Investing.com – The has performed well lately. This is explained in the first place by the imminence of the important hardfork Vasil. This final upgrade should make it possible to technically materialize the scalability of the platform and offer new possibilities to developers in the field of DeFi.
However, it has been announced that this important project will be postponed for at least a month. There’s a lot of disappointment in the community, as the huge performance improvement promised won’t happen for a long time.
In a blog post, IOHK Delivery and Project Manager Nigel Hemsley wrote:
“IOG’s engineering team is close to completing the most important work. Only seven bugs remain to be resolved to complete work on the hardfork, none of which are currently rated as ‘serious’. “After some consideration, we have decided NOT to send the hardfork update proposal to the Testnet today, in order to have more time for testing.”
Since the launch of the Vasil Developer Testnet, 35 developers from 27 different projects have tested their dApps, as have 16 stake pool operators. This type of testing is important to detect possible sources of errors before the mainnet is subject to upgrade.
It remains to be seen if all the bugs will be fixed by the last week of July. There is also another stumbling block to overcome. The exchanges should keep all their functionality with the new update, because no one wants to incur the displeasure of the community:
“Today, the IOG and the Cardano Foundation agreed on a new target date for the testnet hard fork at the end of June. Once completed, we will give exchanges and PSOs four weeks to complete all necessary integration and testing work. This is only common sense and should not be rushed. We therefore assume that the hardfork for the Cardano mainnet will take place during the last week of July”.
Cardano price technical benchmarks
After Cardano was able to rally briefly above the 23.6 percent Fibo retracement of $0.5214, it fell directly below that level the next day.
Since then, the oscillates in a range which is limited upwards, on the basis of the daily closing price, by the psychological threshold of 0.5000 dollar.
As long as there is no sustainable move above the 23.6% Fibo retracement, expect further sideways movement and a test of the cycle low of $0.4029. .
Above this resistance, a continuation of the upside move towards the 38.2 percent Fibo retracement of $0.5947 would be possible. This zone is reinforced by the psychological threshold of $0.60.
By Marco Oehrl