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Cardano (ADA) Price Prediction

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Cardano (ADA) is a decentralized cryptocurrency platform that operates on a Proof OF Stake (PoS) consensus mechanism. This consensus mechanism enables users to become a validator by staking a Coin. Users who participate in Cardano’s Staking Pool are rewarded with ADA.

ADA is the native coin of Cardano for blockchain transactions. Today March 17, ADA is gaining in the market. It has grown from the closing price of $0.3254 on March 16 to $0.3254 

Cardano (ADA) Past And Present Trend

The entire Cryptocurrency ecosystem is highly volatile. Since the Launch of Cardano, there have been lots of price actions and volatility. Cardano saw a price spike from $0.3480 to $0.6779 (94.80%) in early February 2021 amid significant investment interest. This was a result of Cardano’s close relationship with Ethereum.

ADA reached an All-Time High of $3.10 on September 2, 2021, increasing the anticipation of its Alonso hard fork to introduce new smart contract compatibility into the Cardano network.

ADA ended 2022 at $0.2465 and entered 2023 at that price level. It recorded some pullbacks and rallies from January 1 to 9, when it climbed to $0.317. The token maintained a steady but gradual growth in price until it hit $0.4043 on February 3. 

The price later dipped again until February 17, when it regained its hold on February 17. Unfortunately, ADA couldn’t sustain the rally, and by March 1, it was trading at $0.3604, kicking off a downtrend.  

But last week, Cardano saw a reversal in its downward trend pushing its price to $0.35 (10%) as of today, March 17. Shortly, ADA will likely try to break through its critical resistance, which might pave the way for $0.3821 next. 

Cardano (ADA) Price Prediction Based On Technical Indicators

Source: Tradingview

The Relative Strength Index (RSI) indicator is 50.00, which signifies “no trend.” The price is trying to cross the 50.00% RSI. And this indicates the market trend is increasing in strength and is seen as a potential buy signal. 

ADA is trading below its 50-day and 200-day Simple Moving Averages (SMA), indicating a short-term and long-term bearish sentiment. The death cross formed on March 04, 2023, still reveals the bearish influence that dragged the price down in the first week of March.

However, the MACD is above its signal line and is indicating bullish. The histogram is turning green today, indicating massive bullish pressure. ADA’s support levels are $0.2949 & $0.2421, while the resistance levels are $0.4200 & $0.4396.

Despite the price fall earlier this month, ADA is building bullish momentum and may also break the $0.4200 resistance level if it continues with strength.

Expert Long And Short Term ADA Price

Top cryptocurrency experts have predicted the possible outcomes to expect from Cardano (ADA) within the next few years. Below are some of Cardano’s (ADA) expert predictions for 2023-2030 

Changelly Cardano (ADA) Price Prediction

Changelly predicts the lowest price of Cardano in 2023 will be $0.459954, based on technical analysis. The ADA price might go up to a maximum of $0.559944 with an anticipated average trading price of $0.479952.

Price Prediction Cardano (ADA) Price Prediction

Based on its thorough artificial intelligence-assisted technical research, PricePrediction issued an ADA price projection that was more positive for the second half of the decade, projecting that the coin might average $6.52 in 2030, up from $0.98 in 2025 and $0.46 in 2023.

Wallet Investor Cardano (ADA) Price Prediction

In terms of its ADA cryptocurrency price forecast, Wallet Investor was quite pessimistic, predicting that the coin might decline significantly from present levels to trade at $0.0234 by March of 2024.

Captain Alt Coin Cardano (ADA) Price Prediction

CaptainAltCoin predicted Cardano’s price to fall to $0.26 in May 2023 before perhaps rising to $0.4974 in March of the following year. The website then predicted that Cardano would trade for $0.8376 in 2025 but warned there would be a drop to $0.761 by March 2028.

Nonetheless, the website predicted that ADA could rise to $2.09 by 2030 and even predicted a potential $4.19 Cardano coin price for 2040.

It’s essential to consider the cryptocurrency markets’ ongoing volatility while looking for an ADA coin price prediction. As such, estimating a coin’s price with any degree of accuracy is challenging for the foreseeable future. Forecasts made by experts and algorithm-based forecasters occasionally turn out to be inaccurate.

Factors That Might Influence Cardano (ADA) Price

These are some of the factors that might affect the price of Cardano.

Network Functionality

One of the ADA’s secondary aspects that affect coin prices is Cardano’s network capabilities. Cardano saw a huge price increase with the announcement of its ability to produce and hedge stablecoins using ADA coins.

Government Policies

Tight regulatory guidelines for cryptocurrencies may harm market sentiment and drive down prices. Cryptocurrencies may be impacted even by governmental crackdowns, such as the SEC case against Ripple, which drove the price of XRP down. 

Cardano is not excluded from this trend. The price of ADA may decrease if regulators take similar action against Cardano.

Macroeconomic Indicators

Prices of cryptocurrencies, including ADA, are frequently impacted by macroeconomic factors, including unemployment, interest rate increases, and inflation. For instance, the US Fed’s inflation control measures have negatively impacted the crypto market. The continuous interest rate hikes also affect the price of ADA as it reacts to market trends.

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