Cardano (ADA) Price Prediction: Is ADA Set to Surge by 200%? Expert Insights

Cardano ADA is one of the top cryptocurrencies in the market, occupying 7th position on coinmarketpcap. 

ADA recorded some price growth for the past three days, showcased by the green candlesticks on its daily chart. But at the time of writing today, June 26, Cardano is down by 2.86%, keeping its price at $0.2891 

Two factors that could affect ADA price are the Node 8.1.1 update for its network and the US Securities and Exchange Commission (SEC) lawsuits against Binance and Coinbase, where it categorized ADA under securities. 

ADA Spiraled Downwards Following SEC Lawsuit

Cardano (ADA) had a bullish trend at the beginning of June, with $0.3744 on June 1 and $0.3777 on June 5, just in five days.

On June 6, ADA traded at $0.3 ($0.352), but its price began to descend after the SEC lawsuits hit the crypto market. ADA reduced from $0.352 to $0.3232 on June 9 and dropped to $0.2 on June 10.

The asset recorded $0.3537 on June 7 and $0.2632 on June 15. So many attempts to rally didn’t work as investors’ negative thoughts and the crypto market’s bearish pressure affected ADA’s price.

ADA was trading at $0.2632 as of June 17, losing most profits it made in the past months. The June 18, 19, and 20 prices were $0.2669, $0.261, and $0.2631. Then on June 21, a slight increase of 10.11% placed the price back to $0.2703.

On June 22, it improved from $0.27 to $0.28 and increased to $0.29 on June 23 and 24. But by June 25, ADA fell to $0.28, and today, June 26, ADA is also showing a price decrease, currently trading at $0.2891 with a 2.86% decrease. 

Cardano Projects Short-Term Bullish on Tradingview

Cardano (ADA) is trading below its 50-Day and 200-Day Simple Moving Average (SMA), a short and long-term bearish signal, indicating potential price losses within a short and long period.

Considering the death cross on the chart showing ADA’s price weakness, it will likely stagnate within the $0.29 mark for a longer period.

Also, its Relative Strength Index (RSI) is at 42.99, representing the neutral market position of the token as it lingers between 30 (oversold region) and 70 (overbought region). Considering the RSI position slightly pointing down, ADA is prone to more bearish trends in the market.

Notwithstanding, its Moving Average Convergence/Divergence (MACD) is above the signal line, projecting a short-term bullish for the altcoin. Also, the bold green bar on the histogram suggests ADA might record new prices in a short period before the end of its trade. 

Considering the price analysis of Cardano on Tradingview, the asset could commence a price-surging movement if buyers seize the bullish trend today. If this happens, the RSI could push upwards, suggesting a bullish run and a trend reversal in ADA’s market. 

Note that digital currencies are very volatile and can deviate from predicted price actions. Thus, in-depth technical analysis and proper risk management techniques should be in place before investment.

Experts Share Insight on ADA Price in the Short and Long-Term

Cryptonewz made a Cardano price prediction for 2023, suggesting its minimum price to be around $0.36 and its maximum price at $0.88 by the end of the year.

By 2024, the crypto’s minimum and maximum prices will reach $0.76 and $1.10, respectively. In 2025, the minimum and maximum prices for the coin should be around $0.99 and $1.43. 

They further predicted 2026 minimum and maximum prices of $1.26 and $1.82. By 2027, the coin minimum and maximum prices should be $1.64 and $2.36, while its 2028 minimum and maximum prices are expected to reach $2.07 and $2.99.

According to CoinPedia, ADA will record a minimum price of $0.472, an average of $0.552, and a maximum of $0.716 by the end of 2023.

By 2024, the minimum price should be 0.751, an average price of $0.836, and a maximum price of $0.997. They predicted 2025 to have a minimum price of $0.924, an average price of $1.063, and a maximum price of $1.267.

In 2026, the minimum of $1.10, an average of $1.34, and the maximum of $1.59 prices, respectively. By 2027 market prices were predicted to have a minimum of $1.56, an average of $1.75, and a maximum of $1.98.

By 2028, coin prices will have a minimum of $1.93, with an average of $2.16 and a maximum of $2.32. They went further to predict for 2029, a minimum of $2.35, an average of $2.67, and a maximum of $3.02.

Finally, 2030 crypto’s minimum price is $2.99, the average price is $3.52, and the maximum price is $4.10.

Possible Factors Affecting Cardano’s Market Price

Several factors, including market sentiment, macroeconomic activities, ecosystem-related developments, laws of supply and demand, and regulatory crackdowns, affect crypto prices. 

For instance, the current Node update for ADA’s network could be the bullish driver of crypto’s price.

Node 8.1.1 Update Unveiled for ADA Network

The unveiling of Node 8.1.1 by Cardano has brought an important development to the network. This version resolves issues related to P2P/DNS while improving Node performance, especially at the epoch boundary.

Node 8.1.1 release is important as it reveals Cardano’s commitment to revolutionizing its infrastructure to make it user-friendly. The release has gone through a series of tests and is set for deployment. 

SEC Categorization Pushed ADA Price Down

In the SEC’s lawsuit against Binance and Coinbase, the regulator classified ADA as a security, leading to an extreme sell-off. This news affected all assets in the crypto markets, and in seven days, Cardano’s price dropped by more than 30%. 

The price dropped from as high as $0.382 to a low of $0.240- ADA’s lowest trading value since December 2022. 

Cardano (ADA) Alternative

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