Potential growth for $ADA with the release of the Plutus V3 update
The implementation of the Plutus V3 hardfork update could significantly impact the future of Cardano (ADA). ADA's current price of $0.615 is hovering around the $0.61 resistance level, setting the stage for a potential upside. Given the positive momentum indicated by the stochastic RSI and recommended MACD action, ADA may witness a bull run, reaching $0.72 in the short term if the update is well received.
However, with every opportunity comes challenges. Significant updates included in the Plutus V3 hardfork update could trigger initial volatility, testing support levels at $0.42 and $0.34. ADA's long-term prospects depend largely on the success of the update and market reception. The moving averages remain bullish, but in this interim phase we may see slight fluctuations around USD 0.51 and USD 0.56.
