Chart of the Day
The broader market regained some lost ground on Thursday despite U.S. equities closing lower as many central banks echoed the Federal Reserve’s decision to boost rates to curb inflation. As of the time of writing, BTC is well-bid above the $19k handle after posting a 3.5% increase in the last 24 hours. A key contracting triangle with support near $19.2k is taking shape on BTC’s hourly chart. On the upside, BTC is facing an immediate resistance near the $19.4k to $19.7k zone, and a clear break above the zone would likely open the door to a new rally.
Talk of the Town
The Cardano network has kicked off the five-day Vasil hard fork, a much-anticipated fork that is described as “the hardest update” ever done since the project’s inception in 2017. The Vasil hard fork will leverage Cardano’s hard fork combinator technology that introduces new features without losing data from the older version. Once completed, the Vasil upgrade will enhance Cardano’s smart contract capabilities, reducing script execution costs and transaction size, and thus improving the blockchain’s throughput.
Source: Bybit Blog