{"id":383156,"date":"2023-04-03T12:00:44","date_gmt":"2023-04-03T12:00:44","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=383156"},"modified":"2023-04-03T17:00:22","modified_gmt":"2023-04-03T17:00:22","slug":"ada-price-prediction-ada-surges-3-27-with-strong-weekly-gains","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/ada-price-prediction-ada-surges-3-27-with-strong-weekly-gains","title":{"rendered":"ADA Price Prediction: ADA Surges 3.27% With Strong Weekly Gains"},"content":{"rendered":"

Despite a slight drop in value, the crypto market is still posting market sentiment. The emerging industry has continued to attract investors, with major market movers such as Bitcoin and Ethereum showing slight increases in the last day.<\/p>\n

Following the strong trend, the popular Ethereum killer Cardano is up 3.27% with a stronger weekly run of 13.44%. With such a strong move, many investors are wondering if now is a good time to buy ADA.<\/p>\n

ADA Keeps Bullish Momentum<\/h2>\n

At press time, the trading price of Cardano (ADA)<\/a> is $0.39, indicating a surge of 3.27%, with a 24-hour trading volume of $410 million.<\/p>\n

The digital asset’s positive movements have been consistent after an 11% surge in the last fourteen days and 12.6% in the last thirty days.<\/p>\n

With a circulating supply of 34 billion ADA tokens<\/a>, the current market capitalization of Cardano is estimated to be $13,859,737,812.<\/p>\n

However, the Cardano token will likely push into new price levels once the market rebounds.<\/p>\n

\"Ada<\/p>\n

Unsurprisingly, the recent price increase continues to impact ADA’s movement positively.<\/p>\n

The current price of the crypto asset sits above the short-term 50-day simple moving average (SMA) value of $0.35. However, it falls short of its 200-day SMA metric of $0.54 for the long term, and a broader crypto market rally could see it catch up to its long-term price.<\/p>\n

\"screenshot-www.tradingview.com-2023.04.03-08_18_30\"<\/p>\n

According to the technical graph, ADA found support at the 50% Fibonacci retracement level of $0.34 before surging. The asset has pushed through the 61.8% Fibonacci retracement level of $0.37 and has the 78.6% retracement level of $0.41 in sight.<\/p>\n

A sustained bullish trend could propel the asset to this level and beyond, but ADA could also encounter resistance here and drop.<\/p>\n

The asset’s relative strength index (RSI) of 61.27 indicates that it is in the underbought region, and its moving average convergence divergence (MACD) metric is in the buy zone.<\/p>\n

ADA’s technical display has been modest. Nonetheless, there is room for improvement, and a market upswing along with a prolonged bullish trend might raise the asset’s price to a new level.<\/p>\n

Cardano’s ADA Upcoming Feature Could See the Asset Price Explode<\/h2>\n

Cardano is on its way to becoming a top-chain compatible with the Ethereum Virtual Machine (EVM) after the impending deployment of a new feature that will enable developers to deploy an EVM contract directly from any ADA wallet.<\/p>\n

The Cardano ecosystem team will implement a paradigm-shifting innovation, elevating ADA to the top of the EVM chain.<\/p>\n

\n

Cardano will be a top EVM chain next month<\/p>\n

Milkomeda (Cardano’s EVM layer) is launching a feature allowing EVERY Cardano user to use EVM contracts directly from ANY Cardano wallet<\/p>\n

All in pure ADA<\/p>\n

This will instantly make Cardano one of the largest EVM chains by user count pic.twitter.com\/fp6WwdFmF4<\/a><\/p>\n

— Sebastien Guillemot (@SebastienGllmt) March 30, 2023<\/a><\/p><\/blockquote>\n