Cardano (ADA) is trading at the $0.38 price level, down 0.43% in the last 24 hours. The token has long been consolidating between the $0.35 and $0.45 levels, unable to break past the critical price juncture to break into a bullish run. Will September prove fruitful for the token’s price trajectory? Let’s find out.
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Cardano’s Chang Hard Fork: Update
The widely anticipated update for ADA, the Chang Hard Fork, will go live on August 27. It will introduce major changes to Cardano’s anatomical infrastructure.
Governance Functionalities
The update is set to bring crucial governance functionalities to Cardano, which will help its investors explore new facilities. These include the ability to vote on critical matters related to Cardano’s future growth and access to a dedicated Treasury.
Investors Hope
The new fork deployment is fueling hopes for ADA investors about how the update can usher in monumental changes for ADA. With facilities related to on-chain voting and advanced smart contract capabilities, Cardano may undergo a massive price change, which may help improve its price trajectory.
ADA Price Prediction for September
According to CoinCodex, Cardano may experience a notable price uptick in September. CC shares that the token may surge by 15% in September, helping ADA trade at a new price threshold of $0.44.
“According to our current Cardano price prediction. The price of Cardano is predicted to rise by 15.77% and reach $0.446873 by September 24, 2024. Per our technical indicators, the current sentiment is neutral, while the Fear & Greed Index is showing 54 (neutral). Cardano recorded 16/30 (53%) green days with 8.60% price volatility over the last 30 days.”
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The Token’s $1 Dream
ADA investors look forward to Cardano’s future price path despite the odds. Despite the token’s bearish stance, investors hope that the new Chang update for ADA can help bring in significant price changes for Cardano. This includes improving consumer sentiment so that the token can commence its path towards claiming the coveted $1 mark.
According to CoinCodex, ADA may claim the $1 mark by the end of the year 2024.
“Cardano is forecasted to trade within a range of $0.359167 and $1.077657. If it reaches the upper price target, ADA could increase by 179.90% and reach $1.077657.”
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