SPOs Notice Big Improvements in ADA Following 8.1.1 Node Release

  • Andrew Westberg, an ADA enthusiast, tweeted that the 8.1.1 Cardano node has enabled incredible network enhancements.
  • His tweet also noted that BCSH pools experienced no missed slot header checks this epoch.
  • At press time, ADA was trading at $0.2909 after it printed a 24-hour loss of 1.55%.

Yesterday, Cardano (ADA) enthusiast Andrew Westberg shared on Twitter that the new 8.1.1 Cardano node has brought about remarkable enhancements. Several Stake Pool Operators (SPOs) have been reporting that BCSH pools experienced no missed slot leader checks in the current epoch as well.

Although there are a few minor aspects that still require attention, the significant improvement in performance achieved by this update cannot be emphasized enough, according to Westberg. Meanwhile, the price of ADA faced a 1.55% price decrease over the past 24 hours of trading, according to CoinMarketCap.

As a result, the altcoin was trading hands at $0.2909 at press time. This left the crypto trading much closer to its daily low of $0.2865 than its 24-hour high of $0.3031. On the other hand, since the latest version of Node 8.1.1 was rolled out just under a week ago on 20 June 2023, ADA’s price climbed by more than 11%.

Daily chart for ADA/USDT (Source: TradingView)

ADA’s price was trading between the 9-day and 20-day EMA lines at press time, and was able to break above the key resistance level at $0.2755 last week Wednesday – flipping the price mark into support. The altcoin then attempted to break above the next key resistance level at $0.30 over the past week, but was unable to close a daily candle above the level.

There was still some buy support present on ADA’s daily chart, as indicated by the wick that was underneath today’s daily candle at press time. If the crypto’s price can close a daily candle above the previously-mentioned $0.30 resistance, then it will have a clear path to rise to $0.35 in the following week.

On the other hand, a break below the 9-day EMA line in the next 48 hours will put ADA’s price at risk of losing the support of the $0.2755 level. Thereafter, the altcoin’s price could continue to fall to $0.2515 if there is a continuation in sell pressure.

Disclaimer: The views and opinions, as well as all the information shared in this price Analysis, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.

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