Altcoins View Non-AMP

While Cardano Community Awaits For Vasil Hard Fork, Here is How June Looks For ADA Price

Written by: Qadir AK

May 25, 2022

It can be difficult to get your bearings and predict when the tide will flip next when some coins and tokens are swimming in crimson while others are still green. Here’s what the signs had to say about Cardano [ADA] to that end.

Bullish Signals On The Way

At the time of publication, ADA is trading at $0.511 with a fall of 6.62% over the last 24hrs. Cardano was one of the assets defying the trend during a week dominated by outflows, according to CoinShares’ latest Digital Asset Fund Flows weekly report.

The report claims that Minor inflows were witnessed in a variety of altcoins, the most famous of which were Cardano and Polkadot, which both received $1 million in inflows.

However, an asset’s success is more than just its price and cash flows. Cardano’s development activities have been on the decline since the beginning of May, according to Santiment data. Despite significant improvement since the middle of the month, the metric is still well below its late-2021 highs.

Cardano’s price indicators, on the other hand, were more optimistic. The Bollinger Bands appeared to be shrinking, indicating that volatility may be decreasing. Furthermore, the Relative Volatility Index [RVI] was above 50, implying that future volatility could drive ADA’s price higher.

On the whole, even if ADA’s price was decreasing at the time of publication, this could be good news for bulls. However, keep in mind that, as indicated in CoinShares’ research, the overall sentiment is unfavorable.

What’s In For June ?

Finally, June could bring a very different assessment of ADA’s movements. With the Cardano community excitedly awaiting the Vasil hard fork that is currently scheduled for June 2022, some key metrics such as price, weighted sentiment, and development activity could see drastic changes – either upwards or downwards.

If the delivery of Alonzo in 2021 is any indicator, media coverage of Cardano updates could have an impact on investor sentiment.

Qadir AK

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

Recent Posts

Celsius (CEL) Price Prediction 2022: Will It Cross The $15 Mark This Year?

Algorithms and cryptos have been commanding the blockchain industry. Meanwhile, the decentralized finance (DeFi) sector…

June 28, 2022

Unizen Announces $200 Million Capital Commitment Deal From Global Emerging Markets (GEM) 

Crypto exchange aggregator Unizen has today successfully acquired a $200 million capital commitment from Global…

June 27, 2022

Cardano (ADA) Price To Bottom 50% Or More If This Happens, Claims Crypto Expert

While Ethereum (ETH) competitor Cardano price maintains its multi-month decline, well respected crypto expert Benjamin…

June 27, 2022

This Is How Bitcoin Price Is Expected To End The June Month

Bitcoin is expected to resume its price history following closing the drop below the 200-weekly…

June 27, 2022

Did Celsius Network CEO Attempt To Flee? Here Is What You Need To Know

2022 will undoubtedly be remembered as one of the worst years for the crypto industry.…

June 27, 2022

Bear Market To Resume For Stocks, Bitcoin Price & Overall Crypto Market, Alerts Expert

According to widely respected crypto expert Justin Bennett, the stock and cryptocurrency markets, particularly Bitcoin…

June 27, 2022