Investing.com – Cardano is down 3.16% on Friday, April 29, 2022 at a price of $0.8237. The cryptocurrency thus does a little less well than some of its competitors like and .
Cardano fails to take advantage of the current good news. The blockchain Vasil update, announced for June 29th, is steadily approaching, as the core development work is fully completed.
Project manager for the Cardano architecture, John Woods, recently said that all new functions are now officially scheduled. Developers have the opportunity to review the changes in detail on the blockchain’s GitHub repository.
The next few months will be devoted to quality control of the novelties. This should help prevent bugs from appearing as the rollout progresses.
Basically, it’s about increasing the scalability of the blockchain so that complex DeFi applications can rely on a high-performance architecture in the future.
However, all this will not happen on the day of the hardfork, because already developed dApps will need, depending on their complexity, several months before the new functions are implemented. So the performance improvements brought about by the upgrade shouldn’t be visible until the fall.
This may also be the reason why investors are currently still reluctant.
Cardano Technical Course Marks
Cardano failed to overcome the resistance of the 78.6% Fibo retracement of $0.8540. This increases the likelihood that the starting point of the rally towards $1.2439 to $0.7478 will be tested.
Along the way, another support can be found in the area of the March 7-14 lows around $0.7805.
The RSI is not yet in the oversold zone and therefore further losses are possible before a near-term consolidation.
An increase in losses can only be avoided if the daily closing price is above the 78.6% fibo retracement. If the bulls manage to outrun the bears, then further gains towards the 61.8% Fibo retracement of $0.9373 would be possible.
By Marco Oehrl