- Bulls must not place too much faith in the news hype.
- The falling wedge breakout can see an 80% rally from $0.4.
Cardano [ADA] is set to post triple-digit gains next month if historical trends repeat themselves. IntoTheBlock observed in a post on X (formerly Twitter) that the blockchain has been preparing for the Chang Hard Fork.
Reportedly, the price went up 130% from $1.35 to $3.1 during the previous hard fork, the Alonzo hard fork of August 2021. Since then, the blockchain has had two other hard forks with varying degrees of market impact.
Not an automatic 100% price gain
The previous Cardano hard fork was the Valentine upgrade, which went live on the 14th of February, 2023. Coming in the depths of the bear market, it gave ADA holders a lukewarm 16.9% gain over two days.
Thereafter, the price plunged from $0.42 to $0.315, a 28.5% drop in three weeks. Therefore, a hard fork does not automatically guarantee a price…
