Polygon (MATIC) and Cardano (ADA) Spike Higher as Market Sentiment Turns Bullish

The polygon network crypto MATIC spiked to 60 60-day-high following the upcoming migraine from MATIC To POL and increased whale activity. Sharing similar movements as Polygon, Caradno asset ADA has started moving ahead of the upcoming Chang Hard Fork

Polygon (MATIC) cryptocurrency price reached a new 60-day high of 0.60 following the upcoming MATIC To POL migration and increased whale activity.

The Cardano asset ADA, which exhibits similar movements with Polygon, started to mobilize before the upcoming Chang Hard Fork.

ADA has not been a favorite coin of traders lately, its return shows this. During this month, the coins recorded a 10-month low at $0.2799, and those who bought ADA coins in March lost more than 60%.

However, ADA managed to pull back to its current price of $0.3813, which is also a physiological resistance that is now reversing and market sentiment on Cardano remains bullish.

Carano Technicals show that the rally continues.

As seen on the ADA/USDT 4-hour chart, the RSI is allowing more buying pressure and the MACD is in a bullish range with the 9 EMA crossing the 20 EMA.

ADA price is approaching the 50-Day SMA and the 100-Day is holding at $0.4048.

Chang Hard Fork is Coming

Cardano's upcoming hard fork, Chang Hard Fork, will take place on August 27 and could be a boost for Cardano Coin (ADA). The new upgrade aims to introduce a new management system to improve the decentralized community experience on the network.

Optimism about ADA with the above-mentioned technical indicators being positive and the upcoming event is evident as the asset enters the $0.40 region.

On the other hand, ADA, which was rejected below the $0.3904 resistance, will see $0.36 and lower levels.

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