Buy before June could be a good decision?
The fifth-largest cryptocurrency by market capitalization and one of the best and most used blockchain platforms is still getting more attractive for enterprises and developers, unlike its 85% price decline.
The planned VASIL hard fork in summer can push Cardano to a new level from a technology point of view, as it will provide them with the necessary scalability solution. At the same time, it can push the prices even higher.
Since the VASIL hard fork will be implemented in Cardano to provide a considerable amount of utility, increasing its block size limits will allow users to increase the speed and amount of transactions. In contrast, it will enable full-scale intelligent contracts on Cardano, providing better conditions for further use.
From the technical point of view, and while it's losing about 13-14% over the past seven days, it remains bearish. For the short term, we have strong resistance at $0.52, and we can count on bears above this level, but for the longer term, $1.2 is the primary and critical resistance, where the trend can change, and we can look at $3 once again. On the flip side, if we can not breathe above $0.52, bears will be the market leaders, and any number under this level is a bearish signal.
