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Cardano (ADA) Price Prediction: Will We See A Return To $0.4 Soon?

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Cardano ADA
Cardano ADA

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Cardano has enjoyed positive price movement in 2023 despite its recent retracement on the daily price charts. ADA traded at $0.2474 on January 1, 2023, and increased to $0.3171 by January 9. February ushered in another price jump, reaching $0.4039 on February 17. However, the bears are back in March, driving the price back to $0.3.

ADA seems to have rallied in the past few days trading at $0.372 on March 23 and currently at the $0.35 price level. However, a return to the $0.4 price level depends on macroeconomic factors and investor sentiments.

ADA Price Prediction

Cardano (ADA) Price Prediction: Will We See A Return To $0.4 Soon?
Source: Tradingview.com

ADA formed a red candle on the daily chart today, reflecting bearish pressure in the market. The Death Cross formation on March 2 was a bearish signal, with a downtrend immediately observed. The Death Cross formed as the 200-day Simple Moving Average (SMA) fell below the 50-day SMA, a bearish signal.

 The Relative Strength Index (RSI) value is 50.43, which is in the neutral zone. The RSI indicator is on a sideways trend, showing that the bulls and bears are evenly matched in the market.

 However, despite the bearish trend, the candles have formed a rising wedge pattern on the daily chart. This gradual price increase signals an uptrend for the asset. The 50-day SMA seems to rise again to cross over the 200-day SMA, indicating a possible break to the upside. 

ADA’s Moving Average Convergence/Divergence (MACD) is above its signal line and still rising, which is bullish. However, the bullish pressure is still forming and might not be sufficient for a rally.

The current support levels are $0.3375, $0.3434, and $0.3497, and the resistance levels are $0.3620, $0.3679, and $0.3743. ADA is facing resistance from the $0.3620 resistance level. Although a rally above $0.3620 is possible, it will likely trade below $0.4 for the coming weeks. 

ADA Long-Term Price Prediction

  • ADA Price Prediction 2023

Business2Community is bullish on Cardano’s chances in 2023. They predict it will attain $1 and turn the resistance level to support if all ADA upgrades are successfully executed. Bitcoinwisdom is more conservative with its predictions. They predict ADA to increase significantly in the second half of 2023 to $0.5254, trading at an average of $0.4904 and a minimum of $0.4203.

  • ADA Price Prediction 2025

Changelly predict a significant price increase in 2025. According to the prediction, ADA will trade at a maximum of $1.13 and a minimum of $0.9399. Also, ADA’s average predicted price is $0.9799. Bitnation predicts a maximum price of $1.33, a minimum of $1.12, and an average price of $1.22.

  • ADA Price Prediction 2030

Tradersunion is optimistic about Cardano’s long-term price prediction. They believe it will trade at $4.4005 by the middle of the year and $5.8673 by the end of the year. Coinpedia is more reserved with its predictions. They believe ADA will trade at a maximum of $4.10, a minimum of $2.99, and an average price of $3.52.

Factors Influencing Cardano (ADA’s) Price

Several factors could be responsible for ADA’s current price action. Recently, U.S. President Joe Biden called for more crypto regulations, which he believes are necessary if crypto will serve the economy. 

Strict regulations seem to be in contrast with the decentralized vision of cryptocurrencies. The recent collapse of crypto-affiliated banks seems to justify these claims for better regulations. Other cases like the FTX saga also reduced investors’ trust in the system.

However, some big players in the crypto industry feel victimized by the regulation process. Coinbase is under investigation by the U.S. Security and Exchange Commission (SEC). Also, the U.S. Federal Reserve recently raised interest rates by a quarter point. 

Such events increase market volatility for cryptocurrencies. Also, recent trends on a network could influence an asset’s price. Here are the latest trends that could be beneficial to the ADA community.

Latest Trends On The Cardano Network 

Dynamic P2P Now Available on Cardano

Cardano recently announced the release of Cardano’s latest node software version, 1.35.6. It comes with a dynamic peer-to-peer (P2P) function. This upgrade will boost the network’s performance and promote decentralization. P2P enables nodes to connect directly to each other on the Cardano network.

The upgrade is easy to activate, with the network providing a guide on the process for its users. This is a massive step forward in Cardano’s decentralization drive.

Cardano NFT New York Party Coming Soon

To celebrate the NFT week, Cardano is hosting a party in New York in recognition of the growing NFT ecosystem. Community members will have networking opportunities with the Cardano Foundation ambassadors at the event.

The event will take place on April 12, 2023, by 6: 00 pm, with donations welcomed from those who wish to participate.

Cardano Launches NFT For Refugees As Humanitarian Aid

The Cardano Foundation has launched an NFT for refugees’ charity program to assist people in need in Ukraine and other regions.

Participants in the ParisBlockWeek will mint these limited edition NFTs. 

There are two donation tiers,

  • $20, a random NFT from a chosen collection.
  • $120 for all NFTs in a chosen collection (6 NFTs) plus a special gold edition NFT. 

The benefitting parties are chronically underreported and underfunded in crisis, and people, fleeing the war in Ukraine. Some of these Limited edition NFTs carry maps representing cities and countries with the refugee crisis.

Countdown To Cardano Summit 2023

Cardano announced its summit on 2-4 November 2023. The main event will occur in Dubai, while there will be Community-led events and virtual attendance. Attendees at the main event will participate in presentations and other events. Also, the Community-led events will take place at different locations worldwide.

However, details for virtual attendance are still unavailable. Cardano continues to prove its commitment to development and community growth.

Cardano Alternatives that Will Reward Investors

While Cardano retraces today, investors can take advantage of these exciting presales. 

Fight Out (FGHT) 

Fight Out is a Move-to-Earn (M2E) and Play-to-Earn (P2E) platform that rewards users for engaging in physical activities. Users can compete in several game modes for rewards and digital assets. 

Fight Out listing on exchanges will launch its mobile app to help users monitor their fitness stats. The platform has rich training and instructional videos and mentorship from professional athletes. 

The training ground is the entry point to Fight Out, where users develop their skills over time. Also, every player has a soul-bound avatar that reflects the training gains and is used in competition mode.

FGHT, the token that powers this ecosystem, is in the last stages of its presale in less than four days. The presale has raked in over $5.6 million, and the tokens will increase in value once they list on exchanges.

Love Hate Inu 

This platform allows users to earn rewards for expressing their opinions in polls. The surveying market may expand in the next few years. Love Hate Inu is the meme coin initiative that uses the unique Vote-to-Earn (V2E) model.

Votes on the platform are secured using blockchain technology for results. Participants must stake their tokens at least 30 days before they are eligible to cast a vote. 

Users partake in trending discussions by staking LHINU tokens for votes and other digital incentives. The LHINU token is currently on presale and is purchased using BNB and USDT. 90% of the total supply of 100 billion LHINU tokens will be available in presale. The presale is $1.9 million, and each token is worth $0.000095. This price increase will continue until it eventually lists on exchanges.

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