Cardano (ADA) Price Prediction March 14

Cardano is an open-source cryptocurrency and one of the rapidly-growing projects in the entire digital asset sphere. The team’s main objective is to create a decentralized network that is efficient, secure, and scalable through research.

Often, the prices of digital assets, such as ADA, take an upward trend or vice versa. Crypto investors and traders can peek at a cryptocurrency’s price trend to decipher its future price action. 

However, exercising caution remains a critical aspect in any crypto investment due to the volatility of the tokens, including ADA.

Cardano (ADA) Past And Present Trend

ADA has displayed several price actions over the years and recently. The token emerged in 2017, 2 years after Ethereum’s launch. Before the release of the ADA token, its pre-launch sale price stood at $0.0024, more than a 1,700% return, considering its current price.

In October 2017, ADA was already trading at $0.03. it sustained a steady price growth until December, when it hit the $0.77 price mark. It, however, failed to hold on to the consistency in its price surge, as it declined to $0.5 in January 2018.

2018 wasn’t a positive year for the ADA coin. The token price dropped low to $0.04 in December 2018. It maintained this price range until the first 2 months of 2019. ADA remained between the $0.1069 and $0.03 price marks throughout the year.

It launched into 2020 at $0.03283 but only made significant price movements on May 12, when it hit the day’s high of $0.05093. ADA continued with a slow and steady price growth until it reached the year’s peak price of $0.1962 on December 29, 2020.

Entering 2021, ADA started at $0.1814. It saw its price surge significantly most of the year, even reaching its all-time high of $3.0992 on September 2, 2021. 

However, in 2022, ADA saw its gains go down the drain due to the market crash. Today, March 14, 2023, ADA trades at $0.3601, around a -91.83% decline from its all-time high.

 Nevertheless, its 24-hour price increase is 4.33%, with a trading volume of $594,801,973 within the same period.

Cardano (ADA) Price Prediction According To Technical Indicators

ADA has given up its gains over the past couple of days, as it’s creating a bear candlestick, according to the chart. The Relative Strength Index (RSI) is currently at 38.23, signifying a selling pressure as it approaches the oversold region.

However, the MACD (Moving Average Convergence/Divergence) indicator remains slightly above the signal line. While this may indicate a bullish move, the MACD indicator is heading below the signal line, which could initiate a bearish trend. 

Also, the token’s price stands below the 50-Day and 200-Day Simple Moving Averages (SMA), showing a possibility for bearish sentiments in the coming days.

As per the histogram bars, a partial sight of a green bar indicates a weak bullish move. The chart also shows a golden cross on March 3, which could result in bullish pressure.

Major support levels include $0.3572, $0.3052, and $0.2532, while the resistance levels are $0.3232, $0.3535, and $0.4047. The token’s price recently pulled back from the second resistance level and could be heading for the second support level.

Expert Long And Short-Term Cardano (ADA) Price Predictions

In the cryptocurrency space, experts sometimes predict the possible prices of digital assets in the long term or short term. These predictions are a good place for a crypto investor who wishes to venture into the system to start.

Cardano (ADA) Price Prediction By Coincodex

Cardano’s (ADA) short and Long term price prediction from Coincodex reveals that the token will maintain a bullish trend in the coming years. Based on its tech sector growth forecast, ADA will trade between the $0.8381 and $2.52 price levels in 2024 and increase by 517.37% in 2025.

Cardano (ADA) Price Prediction By Crypto Predictions

According to Crypto Predictions, ADA will maintain a downtrend in the remaining months of 2023, with the highest and lowest prices at $0.6733 and $0.4, respectively. For the long-term prediction, Crypto Predictions, the token’s price may reach a maximum price of $0.9696 in December 2026, with a minimum price of $5635.

ICOcreed Cardano (ADA) Price Prediction

In 2027, ICOcreed forecasts the price of ADA to peak at $2.15 in December. ADA will hold a minimum and average price of $1.22 and $1.54. Also, the token may remain between $1.82 and $6.42 from 2028 to 2030.

Factors That Affect The Price Of Cardano (ADA)

Here are some prominent factors that could push or drop the price of ADA over time.

Macroeconomic conditions

Every digital asset is subject to the macroeconomic state of the market, including the Cardano token. These conditions include unemployment, the increment of interest rates, and inflation. 

Regulatory Actions from Governments

Government regulations and policies can significantly impact the price of digital assets like ADA. The price can plummet if a government enforces strict regulations or bans cryptocurrencies altogether. On the other hand, if it adopts a supportive stance toward cryptocurrencies, this can increase their value.

Crypto Investors’ Sentiments

The perception of investors and traders in the market can also affect the price of ADA. Positive news, such as the adoption of cryptocurrencies by mainstream institutions or regulatory clarity, can lead to bullish sentiment, causing the price to rise. Conversely, negative news, such as hacks, scams, or regulatory uncertainty, can cause a bearish sentiment, leading to a price crash.