This week's Cardano (ADA) price forecast

In the previous issue of Cardano's weekly forecast, we pointed out that ADA prices need to break through the range of US$0.168 - 0.170 to continue to rise, and the next target is US$0.190. At the same time, we also mentioned that if we lose $0.160, the bullish expectation will expire and the price may fall to $0.156, followed by $0.150. However, neither of these conditions occurred.

Although Cardano held the support level of US$0.160, he failed to break through the resistance, so the price was still trapped in the same range.

However, the week started a bit better. ADA prices have risen 2.72% to $0.166 in the past 24 hours, far better than Bitcoin's 0.61% gain. Charles Hoskinson's recent comments on Ethereum and news of the upgrade of Cardano's network have regained market attention, and traders 'targeting of ADA has also increased.

The news that pushed Cardano's price this week

The Van Rossem hard fork is currently the main factor supporting Cardano. This upgrade pushes the network to version 11 of the protocol, reducing the operating costs of Plutus smart contracts through a new cost model. At the same time, the upgrade introduces native array types, better multi-asset processing, and faster encryption operations.

If developers start using these tools to refactor applications, Cardano will be more competitive in DeFi, NFT and real-world assets because it is cheaper to use and faster.

The upgrade also marks the first network upgrade that Cardano has approved entirely through on-chain governance. The entrusted representative, pledge pool operators and the Constitutional Council all voted in favor after meeting the required approval threshold. This milestone demonstrates that Cardano's governance model works exactly as designed and does not require a separate reliance on Input and Output to coordinate upgrades.

Charles Hoskinson also sparked heated debate in the encryption industry again by accusing Ethereum developers of borrowing ideas from Cardano's extended UTXO model-after Ethereum had proposed a native UTXO research proposal. In addition, ARK Invest's head of digital asset research questioned Cardano's relevance also affected market sentiment. Hoskinson publicly responded to these doubts, and ARK's proposed crypto ETF still includes ADA, indicating that despite the criticism, institutional recognition has not been compromised.

What is Cardano's chart saying

We pulled Cardano's chart. The ADA remains trapped in the wide range it has formed since withdrawing from the $0.175 - 0.178 region earlier this month. Buyers have held on to the $0.160 - 0.162 line many times, and the latest K-line shows that the currency is trying to rebound to around $0.168.

The momentum indicator is relatively balanced. The stochastic indicator rebounded from the oversold area to 54.93, and the final oscillation indicator reported 49.33. The buyers and sellers were basically evenly matched. Things have improved in the past few days, but Cardano still needs to exceed $0.170 before buyers can control the short-term direction.

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Where will Cardano prices go this week?

If Cardano rises, buyers need to push the price above $0.170. Once it breaks through, the ADA may rise to US$0.175, and then the US$0.180 - 0.190 area is expected to become the next target, especially as Van Rossem upgrades and governance milestone topics continue to ferment.

Without new news stimulus, Cardano prices will continue to be trapped in the US$0.160 - 0.170 range, consistent with most of July. This means traders are waiting for bigger events to happen before taking action.

The bearish scenario starts with a loss of $0.160. If it falls below this level, the ADA may drop to US$0.156, and buyers will need to hold US$0.150 as the next line of defense.

FAQs

Why are Cardano (ADA) prices rising today?

Cardano's price rose 2.72% in 24 hours, outperforming Bitcoin. The rise stems from positive investor responses to the Van Rossem hard fork (Cardano's first network upgrade fully approved by on-chain governance) and Charles Hoskinson's comments on Ethereum's proposed UTXO model.

Is Van Rossem hard fork bullish on Cardano prices?

The Van Rossem hard fork is seen as a positive development because it reduces Plutus smart contract execution costs, introduces new developer tools, and marks the first time that Cardano has completed an upgrade entirely through on-chain governance. These improvements are expected to increase the network's appeal to DeFi, NFT and real-world asset projects in the long term.