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Summary

If the price breaches $0.37 key support level, ADA may test the $0.34 support level. The Cardano community eagerly awaits the much-anticipated Chang Hard Fork update.

Introduction

At the current moment, ADA is trading at $0.3853, experiencing a slight 0.15% decrease in the last 24 hours. Co-founder Charles Hoskinson hinted at the imminent launch of the Chang Hard Fork update scheduled for June.

Main Points

The Cardano Node is expected to reach version 9.0 with the upcoming Chang Hard Fork update. The transition to decentralized governance is well underway to incorporate community feedback for the upgrade. The deployment of Decentralized Representatives (dReps) will play a significant role in changing treasury control.

Cardano (ADA) has witnessed a notable 34% surge in trading volume for open-ended futures on CoinGlass recently. The market is experiencing a bearish trend, with ADA facing selling pressure and trading at $0.3853. The upcoming upgrade is anticipated to influence ADA’s short-term trajectory.

Conclusion

The future price movement of ADA depends on whether it breaches the $0.37 support level or rises above $0.40. The Cardano community is eagerly anticipating the impact of the Chang Hard Fork update on the cryptocurrency’s performance.

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