Cardano to Plunge Hard at the Start of October! Analyst Maps Entry and Exit Levels For ADA Price

The Vasil Hard Fork seems to bring no change in the price action for Cardano (ADA) as Cardano is continuously facing rejection at $0.5. The price of Cardano has been trading below its resistance level throughout this month. However, some analysts mark this as a good entry point for a tremendous return on your investment.

Timeline of Cardano

Charles Hoskinson, the co-founder of IOHK and Cardano, has criticized Ethereum for ‘hurting' the crypto industry and the Ethereum Foundation's attitude towards him and the Cardano project.

Cardano (ADA) Price Analysis Cardano's price has continued to trade along the lower support around $0.434 ever since the price collapsed from $1.2 in May. While the volume & volatility diminished heavily, the price remained consolidated below $0.6.

Earlier today, Charles Hoskinson, Co-Founder and CEO of IO Global (aka “IOG”, formerly known as “IOHK”), the company responsible for Cardano's R&D, talked about Ethereum Foundation's attitude toward him and Cardano.

Crypto projects like Axie Infinity are known as Game-Fi platforms because they reward members for participating and being active within their ecosystem. The Cardano project also aims to become a fully decentralized platform with proof-of-stake functionality.

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With the current crypto market condition, long-term crypto assets purchase could be a smart investment move. Most crypto assets have suffered a great price decline, but the track record of the crypto market shows that these periods don't last forever.  However, it's essential to prepare for the good times.

In a recent interview, Charles Hoskinson, Founder and Co-CEO of Input Output Global (“IOG”), the blockchain technology firm behind Cardano's R&D, talked abut layer 2 (L2) scaling solution Hydra, which should launch in H1 2023.

With a decrease in the Cardano price, the environment flipped to bearish for a week. The asset is trading at $0.4586 as the bears took control of the market at the beginning of the week. The last three days have been overwhelmingly bullish, so the bulls still have a chance.

According to Charles Hoskinson, the US Financial Innovation Act can trigger a massive bull market run  In a 90-minute long interview with Cheeky Crypto, Hoskinson shared his views on possible factors that could end the current bear market phase of the crypto domain. Per Hoskinson, the Financial Innovation Act proposed by the US is capable of triggering a “mega bull crypto market run,” which can help the prices of leading cryptocurrencies surge past their usual price threshold.

Barely a week after Ethereum's transition to Proof-of-Stake, Cardano (ADA) has replied to its critics with the widely anticipated Vasil upgrade as it looks to lure more projects to its network with improved features.