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Cardano (ADA) is a decentralized proof of stake (PoS) blockchain that effectively substitutes the proof of work (PoW) networks.
The network is powered by its native token ADA, which facilitates the operations of decentralized systems, applications, and other activities. For instance, users can stake the token to become validators using the consensus technique. Users participating in Cardano’s Staking Pool get rewards in ADA tokens.
As a token, ADA is prone to price fluctuations in the market, just like other crypto assets. Notably, it is gaining gradually today, trading at the $0.461 price level, up from yesterday’s closing price of $0.3980.
Cardano (ADA) Past And Present Trend
Extreme volatility characterizes the entire cryptocurrency ecosystem. There have been numerous price changes and periods of high volatility since Cardano’s launch.
On January 18, 2022, ADA increased from $1.36 to $1.63. As investors sold off assets at the onset of the Russia-Ukraine crisis, it declined to $0.7528 on February 24. The price ranged between $0.4590 and $0.7347 until October 2022.
Following the collapse of FTX (FTT) and the market crash, ADA price dropped badly to $0.2973 on November 21. The token kept falling, ending the year at $0.2465, representing a loss of over 75% in one year.
ADA started 2023 at $0.2464. Since then, there have been some recovery moves in the market and on February 17, ADA reached $0.4039, its highest level since the demise of FTX. It started to decrease significantly below $0.4 from February 21, with the Silvergate bank failure worsening the decline. Then today, April 11, ADA has reclaimed its hold on the $0.4 price mark.
Cardano (ADA) Price Prediction Based On Technical Indicators
Cardano (ADA) trades above the 50 and 200 Simple Moving Average (SMA). This indicates a potential buy signal. Also, the golden cross formed strongly confirms a bullish market. If the bullish momentum continues, we may see Cardano break the resistance zones of $0.42 – $0.44 in a few days.
The MACD is slightly above the signal line while the histogram is building up slowly. This indicates the bulls are trying to take over the market though the momentum is not strong enough.
Moreover, the Relative Strength Index (RSI) indicator is above the neutral level, which indicates that the market is healthy and safe to enter.
Expert Long And Short Term ADA Price
Top cryptocurrency analysts have forecasted what can happen to Cardano (ADA) in the coming years. Here are some predictions for 2023 to 2030.
Price Prediction Cardano (ADA) Price Forecast
Price prediction projected an average ADA price of $6.52 in 2030, up from $0.98 in 2025 and $0.46 in 2023. This prediction is based on its detailed artificial intelligence-assisted technical research.
Wallet Investor Cardano’s Price Forecast
Wallet Investors expect the price of the ADA cryptocurrency to drop drastically from current levels to trade at $0.0234 by March 2024.
Changelly Cardano’s Price Forecast
Using a technical analysis for 2023, Changelly projects that the lowest price of Cardano will be $0.459954. The highest possible price for ADA is $0.559944. The projected average market price is $0.479952.
Captain AltCoin Cardano’s Price Prediction
CaptainAltCoin projected that the price of Cardano would drop to $0.26 in May 2023 and then rise to $0.4974 in March 2024. After that, the website forecasted that Cardano would trade for $0.8376 in 2025 but cautioned that it would fall to $0.761 by March 2028.
Nevertheless, according to the website, ADA might increase to $2.09 by 2030 and reach $4.19 per Cardano coin by 2040.
When looking for an ADA coin price prediction, it’s critical to consider the cryptocurrency markets’ constant volatility. Hence, predictions made by professionals and algorithm-based forecasters may prove to be incorrect.
Factors Influencing ADA’s Price
Several factors could influence the price of ADA. These factors range from events within its ecosystem to macroeconomic events that affect worldwide economic activities.
Supply and Demand
The laws of supply and demand are valid for any trading activity. Having excess tokens in circulation is counter-productive and would reduce the price. However, with scarcity, demand will exceed supply, increasing the token’s price.
Macroeconomic Events
Global events, such as inflation, recession, and conflicts, could hurt cryptocurrencies. The recent Russia-Ukraine conflict has affected crypto mining activities in both countries as they focus on war. Also, high-interest rates often lead to a decrease in crypto prices.
Crypto Regulation
Cryptocurrencies are volatile assets that can reward investors or lose value unexpectedly. Some regulatory bodies, such as the U.S. Securities and Exchange Commission, enforce laws to protect crypto users from Ponzi schemes and dubious projects.
However, the regulatory activities can sometimes seem extreme and increase FUD levels among investors. It will result in a sharp decline in the value of cryptocurrencies in the market. A recent example is the SEC vs XRP lawsuit that has persisted for a while.
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