Cardano (ADA) Price Prediction 2023 — Will ADA Hit $2 Soon?

Cardano (ADA) Price Prediction 2022 - Will ADA Hit $5 Soon?
  • Bullish ADA price prediction for 2023 is $0.3305 to $0.7502.
  • Cardano (ADA) price might also reach $2 soon.
  • Bearish ADA price prediction for 2023 is $0.247.

In Cardano (ADA)  price prediction 2023, we use statistics, price patterns, RSI, RVOL, and other information about ADA to analyze the future movement of the cryptocurrency. 

Cardano (ADA) Current Market Status

Current Price $0.322881
24 – Hour Trading Volume $414,973,344
24 – Hour Price Change 2.3% up
Circulating Supply 35,045,020,830
All – Time High $3.09 (On September 02, 2021) 
ADA Current Market Status (source: CoinGecko)

What is Cardano (ADA)?

Cardano (ADA) is the native token of the Cardano blockchain. This sustainable blockchain uses the Proof-of-Stake (PoS) consensus mechanism, Ouroborus. This “third-generation blockchain” initially existed as a layer-1 solution. Eventually, the layer-2 update, Hydra, was integrated onto the existing network in late 2021.

Cardano has been built as an upgraded version of Ethereum’s smart contracts network. Moreover, it aims to scale the permissionless nature of the DeFi space and aid the mission of banking the unbanked.

Cardano (ADA) Price Prediction 2023

Cardano (ADA) holds the 8th position on CoinGecko right now. ADA price prediction 2023 is explained below with a daily time frame.

   ADA /USDT Descending Channel Pattern (Source: Tradingview)

The above chart of Cardano (ADA) laid out the descending channel pattern, also known as the falling channel. A descending channel is formed by two parallel trendlines. The upper trendline, which joins the highs, and the lower trendline, which joins the lows, run parallelly downwards. This pattern is characteristic of a bearish market.

Currently, Cardano (ADA) is in the range of $0.313. If the pattern continues, the price of ADA  might reach the resistance levels of $0.3235 and $0.4396. If the trend reverses, then the price of ADA may fall to $0.2396. 

Cardano (ADA) Support and Resistance Levels

The chart below shows the support and resistance levels of Cardano (ADA).

ADA /USDT Support and Resistance Levels (Source: Tradingview)

From the above daily time frame, we can clearly interpret the following as the resistance and support levels for Cardano (ADA). 

Resistance Level 1$0.3305
Resistance Level 2$0.4253
Resistance Level 3$0.5689
Resistance Level 4$0.7502
Support Level$0.2521
ADA Support and Resistance Levels

The charts show that Cardano (ADA) has performed a bullish trend over the past month. If this trend continues, ADA might run along with the bulls overtaking its resistance level at $0.7502.

Accordingly, if the investors turn against crypto, the price of Cardano (ADA) might plummet to almost $0.2521, a bearish signal.

Cardano (ADA) Price Prediction 2023 — RVOL, MA, and RSI

The Relative Volume (RVOL) of Cardano (ADA) is shown in the chart below. It is an indicator of how the current trading volume has changed over a period of time from the previous trading volume. Currently, the RVOL of ADA lies below the cutoff line, indicating weak participants in the current trend.

ADA /USDT RVOL, MA, RSI (Source: Tradingview)

Also, the Moving Average (MA) of Cardano (ADA) is shown in the chart above. Notably, the Cardano (ADA) price lies above 50 MA (short-term), so it is in an uptrend. Currently, ADA has entered a bullish state. Therefore, there is a possibility of a reversal trend of ADA at any time.

Meanwhile, the relative strength index (RSI) of the ADA is 72. This means that Cardano (ADA) is in an overbought state. However, this means a major price reversal of ADA may occur in the upcoming days. So, traders need to trade carefully. 

Cardano (ADA) Price Prediction 2023 — ADX, RVI

Let us now look at the Average Directional Index (ADX) of Cardano (ADA). It helps to measure the overall strength of the trend. Generally, the indicator is the average of the expanding price range values. This system attempts to measure the strength of price movement in the positive and negative directions using DMI indicators with ADX.

ADA /USDT ADX, RVI (Source: Tradingview)

The above chart represents the ADX of Cardano (ADA). Currently, the ADX of ADA lies in the range of 33.1166 and thus, it indicates a strong trend. 

The above chart also represents the Relative Volatility Index (RVI) of Cardano (ADA). Accordingly, RVI measures the constant deviation of price changes over a period of time. As the RVI of ADA lies above 50, it indicates high volatility. In fact, the RSI of Cardano (ADA) is at 72.0 thus confirming a potential buy signal.

Comparison of ADA with BTC, ETH

The below chart shows the price comparison between Bitcoin (BTC), Ethereum (ETH), and  Cardano (ADA).

BTC Vs ETH Vs ADA Price Comparison (Source: Tradingview)

From the above chart, it can be interpreted that ETH, BTC, and ADA are moving in a similar trend. This indicates that when the price of BTC increases or decreases, the price of ETH and ADA also increase or decrease respectively.

Cardano (ADA) Price Prediction 2024-2030

Numerous factors are taken into account when forecasting prices including volume changes, price variations, market cycles, and similar coins. Let’s predict the price of Cardano (ADA) between 2024 and 2030.

Cardano (ADA) Price Prediction 2024

With several upgrades in the network, Cardano (ADA) might enter a bullish trajectory. If the coin grabs the attention of major investors, ADA might also rally to hit $4 by 2024. 

Cardano (ADA) Price Prediction 2025

If Cardano (ADA) sustains major resistance levels and continues to be recognized as a better investment option among investors for the next 3 years, ADA would rally to hit $6. 

Cardano (ADA) Price Prediction 2026

If Cardano (ADA) sustains major resistance levels and continues to be recognized as a better investment option among investors for the next 4 years, ADA would rally to hit $8. 

Cardano (ADA) Price Prediction 2027

If Cardano (ADA) sustains major resistance levels and continues to be recognized as a better investment option among investors for the next 5 years, ADA would rally to hit $12.

Cardano (ADA) Price Prediction 2028

If Cardano (ADA) holds up a strong stance as a better investment option for the next 6 years amid the trends in the highly-volatile crypto market, it would hit $15 in 2028.

Cardano (ADA) Price Prediction 2029

If investors flock in and continue to place their bets on Cardano (ADA), it would witness major spikes. Eventually, ADA might hit $19 by 2029.

Cardano (ADA) Price Prediction 2030

With greater advancements in the Cardano ecosystem, the crypto community might continue to invest in ADA for the next 8 years and drive significant price rallies for the token. Hence, Cardano (ADA) might hit $21 by 2030.

Conclusion

With continuous improvements in the Cardano network, we can say that 2023 is a good year for ADA. For this reason, the bullish price prediction of Cardano (ADA) in 2023 is $0.7502. On the other hand, the bearish price prediction of Cardano (ADA) price prediction for 2023 is $0.2521.

Furthermore, with the advancements and upgrades to the Cardano ecosystem, the performance of ADA would help to reach above its current all-time high (ATH) of $3.09 very soon. But, it might also reach $2 if the investors believe that ADA is a good investment in 2023.

FAQ

1. What is Cardano (ADA)?

Cardano (ADA) is the native cryptocurrency of Cardano. Cardano is a smart contract-based blockchain operating on the proof-of-stake (PoS) consensus launched in 2017. 

2. Where can you purchase Cardano (ADA)?

Cardano (ADA) has been listed on many crypto exchanges which include Binance, Coinbase Exchange, OKX, KuCoin, Bybit and Huobi

3. Will Cardano (ADA) reach a new ATH soon?

With the ongoing developments and upgrades within the Cardano Platform, ADA has a high possibility of reaching its ATH soon.

4. What is the current all-time high (ATH) of Cardano (ADA)?

On September 02, 2021, Cardano (ADA) reached its new all-time high (ATH) of $3.09.

5. Is Cardano (ADA) a good investment in 2023?

Cardano (ADA) seems to be one of the top-gaining cryptocurrencies this year. According to the recorded achievements of Cardano in the past few months, ADA is considered a good investment in 2023.

6. Can Cardano (ADA) reach $2?

Cardano (ADA) is one of the active cryptos that continues to maintain its bullish state. Eventually, if this bullish trend continues then Cardano (ADA) will hit $2 soon.

7. What will be Cardano (ADA) price by 2024?

 Cardano (ADA) price is expected to reach $4 by 2024.

8. What will be Cardano (ADA) price by 2025?

 Cardano (ADA) price is expected to reach $6 by 2025.

9. What will be Cardano (ADA) price by 2026?

 Cardano (ADA) price is expected to reach $8 by 2026.

10. What will be Cardano (ADA) price by 2027?

Cardano (ADA) price is expected to reach $12 by 2027.          

Disclaimer: The opinion expressed in this chart is solely the author’s. It does not represent any investment advice. TheNewsCrypto team encourages all to do their own research before investing.

A devoted content specialist who is inquisitive on exploring crypto and blockchain technology. She is fond of providing innovative contents that tugged her to write for NewsCrypto.