Cardano ADA Price Prediction: Will We See Further Increase Ahead?

Cardano has gained slightly on the charts today, trading at $0.346, an increase from yesterday’s closing price of $0.3377. 

The Cardano network is widely regarded as a developers’ hub delving into blockchain development and advancement projects. Also, the network supports charitable courses giving out donations to less privileged people globally.

Cardano Price Trends In 2023

ADA moved into 2023, trading at $0.2498 on January 1, 2023, fresh from the crypto winter of 2022. It increased to $0.2952 in a week on January 8 and claimed the $0.3 price level the next day on January 9. 

ADA stayed within the $0.3 price range in February while closing at $0.4 occasionally. However, the bears pushed the price down to $0.3176 on March 8. 

ADA is currently trading at $0.346, a slight increase on the daily charts.

Cardano (ADA) Price Prediction With Technical Indicators

ADA is on the road to recovery today, forming a green candle on the daily chart. It is trading below its 50-day and 200-day Simple Moving Averages (SMA), which have converged on the chart. This indicates a bearish sentiment in the short term and long term.

The Relative Strength Index (RSI) is at 50.62, displaying price neutrality. Also, the indicator is moving sideways, implying that the bulls and bears are evenly matched.

A close look at ADA’s Moving Average Convergence/ divergence (MACD) shows some possibilities. The MACD is giving off negative values but is currently above its signal line. This indicates a possible recovery for the asset ahead. 

However, market forces and trader sentiments will impact its next price move. Expect ADA to pull back slightly before it likely moves to an uptrend.

Expert Long And Short-Term Cardano Price Prediction

Changelly Cardano Price Prediction

Changelly tips ADA to trade at a peak level of $0.559944, a minimum of $0.459954, and an average price of $0.479952 in 2023. Also, they believe that ADA will improve its performance in 2025 to trade at a maximum of $1.15, a minimum of $0.929907, and an average price of $0.959904.

Changelly states that by 2030, ADA will hit $7.01 as its maximum price and a minimum of $6.00. The average expected price for the asset is $6.17.

CryptoNewsZ Cardano Price Prediction

CryptoNewsZ predicts that ADA will trade with a maximum price of $0.80, a minimum of $0.33, and an average price of $0.56 in 2023. In 2025, ADA will likely cross the $1 mark to trade at a maximum of $1.32 and a minimum of $0.86. The average expected price is $1.09.

Also, CryptoNewsZ believes that in 2030, ADA will trade at a maximum of $3.96 and a minimum of $2.59, with an average expected price of $3.28. 

Coinpedia Cardano Price Prediction

Coinpedia is bullish on ADA’s chances in 2023. They believe that ADA will trade at a maximum of $0.716, a minimum of $0.472, and an average price of $0.554 in 2023. In 2025, they also believe that ADA will reclaim the $1 price level. The 2025 prediction is a maximum price of $1.267, a minimum of $0.924, and an average price of $1.063 for the asset.

Also, Coinpedia predicts that by 2030, ADA will trade at a maximum price of $4.10, a minimum of $2.99, and an average price of $3.52. 

Factors That Might Influence Cardano’s Price

Several factors influence Cardano’s price. These factors range from activities and events within its network to external factors that affect the economy. Here are the top factors that might influence the asset’s price.

Fiscal policies

Every year, the crypto market is affected by Consumer Price Index (CPI) data that reflect inflation rates. The decisions taken by the authorities to raise inflation rates could harm an asset price. 

Macroeconomic events

Despite the difference in geographical locations, some events might cause a ripple effect on economic activities worldwide. For instance, the Ukraine-Russia war has persisted for over a year leading to casualties and displacements. 

These countries previously regarded as mining hubs are now in the midst of chaos since the war. Such events could make the price of digital assets decline sharply. Also, natural disasters like floods and economic problems like recession could influence crypto prices.

Crypto Regulation

Due to the crypto crisis in 2022, with companies like FTX and Three arrows capital, investors lost millions of dollars. These losses automatically put cryptocurrencies under regulatory pressure, with the U.S. Security and Exchange Commission (SEC) driving the charge.

The SEC has filed cases against several top crypto projects leading to mixed reactions from customers. Crypto developers believe that it is essential to strike a balance between regulation and unwarranted attacks. Also, in some regions, cryptocurrencies are still illegal and attract sanctions from authorities.

Investor sentiment

Investors are essential to the success of a crypto project with trading, staking, and other community events. However, some events, like the crash of FTX in November 2022 and the arrest of Terra’s CEO, Do Kwon, can increase FUD levels in the market.

When FUD is high, herd mentality is activated, where traders might uniformly dump tokens causing the price to drop drastically. 

Notable Events On The Cardano Network

Cardano Foundation Launches Webinars

?‍? ? Calling all #Blockchain enthusiasts! ? ?‍?

Don't miss the Women of #Cardano Webinar on 8 March, 2023. Join us for this inspiring event celebrating innovation and women's contributions to Blockchain.

Register now: https://t.co/4DhpBBRqhB#CardanoCommunity #Web3 pic.twitter.com/IzioZ8cyxK

— Cardano Foundation (@Cardano_CF) March 3, 2023

Cardano Foundation now hosts a new webinar series tagged Let’s Talk Cardano. This series will handle a broad range of topics in the Cardano ecosystem, focusing on the Women of Cardano.

These women are vital to the growth and development of the ecosystem. Also, registered users can join the discussion on Cardano for business building and the present and future of cNFTs (Cardano NFTs).