Cardano Price Prediction: Will ADA Price Hit $1.5 in 2023?

• Bullish Cardano price prediction ranges from $0.3700 to $1.2452.
• The ADA price might also reach $1.5 soon.
• ADA bearish market price prediction for 2023 is $0.2915.

After the first and second-generation cryptocurrencies, Bitcoin and Ethereum, Cardano was introduced in 2017 as a third-generation blockchain. Cardano claims to be a more scalable, secure, and efficient alternative to Ethereum and other decentralized application platforms.

A cryptocurrency like Cardano, which has been around for a while, is one with a growing ecosystem. This year, it has been ranked as one of the busiest. As a result, ADA is one of the altcoins investors are keeping an eye on in the cryptocurrency market.

If you are interested in the future of Cardano (ADA) and want to know the predicted value for 2023, 2024, 2025, and 2030, keep reading!

Cardano (ADA) Market Overview

What Is Cardano?

As a public blockchain, Cardano is available to anybody who wants to use the platform. With its in-house cryptocurrency, ADA, it can facilitate peer-to-peer transactions. The Cardano blockchain employs the Ouroboros proof-of-stake (PoS) consensus process for finding new blocks and adding transaction data to the network. In this PoS system, ADA holders lock up or stake their coins in pools operated by other participants or become stake pool operators.

As the name implies, the “environmentally sustainable, verifiably secure” PoS protocol known as Ouroboros is used to protect Cardano. PoW consensus mechanisms are known for their security assurances, but Ouroboros claims it is four times more energy efficient than Bitcoin.

Cardano also wants to provide developers with a platform where they can design smart contracts and decentralized apps. Goguen mainnet, a blockchain technology with token lock network capabilities, was recently added to the Cardano network as a new upgrade. More than any other blockchain, Cardano’s Github has the most contributing developers, surpassing established ones like Solana. More than 50 additions are made to its repo per day on average.

Charles Hoskinson, one of the co-founders of the Ethereum network, established Cardano. He is the CEO of IOHK, which created Cardano’s blockchain. Although there is a maximum supply of 45 billion ADA, only roughly 31 billion are in circulation at the time of writing.

Technical Aspects of Cardano (ADA)

Cardano is being developed in five stages to create a development platform with a multi-asset ledger and verified smart contracts for decentralized apps (DApps). The five phases are named after prominent historical personalities and are referred to as eras. The following are the five phases:

Byron (Foundation)

Cardano’s Phase 1, or Byron, was the initial release for the general public in September 2017. In addition, the Daedalus desktop wallet and the ADA cryptocurrency were introduced by the business.

Shelley (Decentralization)

In the second stage, anyone could participate in the Cardano transaction verification process, making it decentralized. Shelley officially began in June 2020.

Goguen (Smart Contracts)

Smart contracts and decentralized applications will be available in Cardano’s third era. The Alonzo upgrade launch represents the Cardano Goguen era’s roadmap. The Alonzo update was released in August 2021.

Basho (Scaling)

Basho seeks to build sidechains to Cardano to scale it even further. As a result, the main blockchain will be divided into several smaller chains called shards.

Voltaire (Governance)

The long-term ambition of Cardano is to develop an autonomous system independent of IOHK, its parent company. In the following weeks, Voltaire will unveil a full-fledged governance system that users can utilize to decide on new features. A genuinely decentralized platform can be built on top of Cardano after the first phase.

Analysts View on Cardano (ADA)

Dan Gambardello, the founder of Crypto Capital Ventures, believes that despite the bearish circumstances that have prevailed since the beginning of 2022, long-term opportunities will once again exist in the cryptocurrency space.

Denotably, a few people from the crypto community mentioned that although investors and people are investing on only the mainstream coins such as Bitcoin and Ethereum. Investors often skip their eyes on Cardano.

Also, Cardano founder Charles Hoskinson tweeted that the markets are separated from reality, which is a general fact concerning cryptocurrency. Cardano has never been stronger, and many other projects in the industry are equally strong, but you don’t see it reflected- just a sea of red. Cardano is transforming the world because of all of you, and our finest days are yet to be.

Cardano (ADA) Current Market Status

With over 34.7 billion ADA in circulation, Cardano (ADA) trades at $0.3732 at the time of writing. ADA has a 24-hour trading volume of around $641 million, and during the previous 24 hours, the price of ADA decreased by 0.67%.Binance, Coinbase, Bithumb, Kucoin, and Kraken are currently the most popular cryptocurrency exchanges for trading Cardano (ADA). Let’s continue with our ADA price research for 2023.

Cardano (ADA) Price Analysis 2023

Currently, ADA ranks 7th on CoinMarketCap. Will Cardano’s most recent improvements, additions, and modifications help its price go up? First, let’s focus on the charts in this article’s ADA price forecast.

Cardano (ADA) Price Analysis – Keltner Channel

When volatility bands are positioned on either side of an asset’s price, it is possible to determine the direction of a trend with the help of Keltner Channel. The price of Cardano (ADA) can be predicted using the Keltner Channel indications for ADA/USDT. The current bullish trend might continue as Cardano is currently in the first half of the Keltner Channel. The move will usually continue bullish, however, the price could face a bearish momentum if it reaches the second half of the Keltner Channel.

Cardano (ADA) Price Analysis – Relative Strength Index

In technical analysis, the Relative Strength Index (RSI) is a momentum indicator. The RSI examines the speed and amplitude of a security’s recent price swings to determine if it is overvalued or undervalued. The RSI value of the 1-Day chart is 57.95. A movement above 50 indicates that ADA has a strong trend, and could continue till it reaches the overbought region.

Cardano (ADA) Price Analysis – Moving Average

Above is a daily chart of Cardano ADA’s 200-day and 50-day Moving Average (MA). ADA price has been falling drastically over the past few months. Notably, the ADA 50-day MA is above the 200-day MA (long-term), indicating that the market is bullish. However, the distance between the two moving averages is narrow, meaning there’s a chance of reversal, indicating that the bears could come into power.

Cardano (ADA) Price Prediction 2023

By looking at the daily chart of ADA/USDT, ADA price was swinging inside the flag. Moreover, ADA is moving close to the resistance level at $0.4166 and $0.4265. If ADA tends to reverse after touching its primary resistance at the 1D chart, ADA price could likely shoot straight to $0.5872. 

Meanwhile, our long-term ADA price prediction for 2023 is bullish since it cannot break the support level. We can expect ADA to reach $0.7 in 2023.

Cardano (ADA) Price Prediction – Resistance and Support Levels

This chart above shows that the ADA price has decreased significantly in the past few months. Moreover, the price of ADA has been down by 0.67% in the past 24 hours. However, ADA is trading upwards to the resistance level. If the bullish price movement continues, ADA might keep breaking its current resistance level at $0.4481 and eventually move upwards to the $0.6230 resistance level.

If ADA reverses from its current trajectory and faces downtrend. The bears may seize control and dethrone ADA to the support level. In simple terms, the price of ADA might fall to almost $0.2915 in the support level.

Cardano (ADA) Price Prediction 2024

The Bitcoin supply will be cut in half by 2024. Consequently, we should anticipate a favourable market trend due to user sentiment and investors’ desire to acquire more of the coin. Due to the impact of Bitcoin’s price swings on the value of other cryptocurrencies, it is reasonable to anticipate that ADA will be worth at least $1.083 by 2025. 

Cardano (ADA) Price Prediction 2025

If most cryptocurrencies can overcome psychological barriers in the aftermath of Bitcoin’s price halving in 2024, we can expect ADA to trade at a premium to its 2024 pricing. As a result, ADA may be worth roughly $1.457 by the end of 2025.

Cardano (ADA) Price Prediction 2026

As more and more institutional investors flock to the ADA platform, the cryptocurrency price will likely fall after a prolonged bull run ends in 2026. It would be a significant reversal of the trend, suggesting that the price of ADA may reach $2.178 by 2026, even though the coin has generally depreciated during the same period. 

Cardano (ADA) Price Prediction 2027

The halving of Bitcoin in 2028 will likely trigger a bull market. As a result, if investors remain hopeful, the price of ADA may continue to rise and may even breach previously established hurdles. Cardano (ADA) may be worth $6.684.

Cardano (ADA) Price Prediction 2028

Bitcoin will be halved in 2028. A bullish run is anticipated before the market settles down in 2027. As a result, ADA’s potential value of $9.524 by 2027 is still being determined.

Cardano (ADA) Price Prediction 2029

By 2029, the majority of cryptocurrency values may have been stable for nearly a decade, owing to the application of lessons learned to secure the sustained faith of investors in the project. Because of this effect and the additional price increase that occurs a year after Bitcoin’s price halves, the price of ADA might reach $12.494 by 2029.

Cardano (ADA) Price Prediction 2030

The cryptocurrency market was stable because early investors held on to their assets so they would take advantage of future price gains. By the end of 2030, the price of Cardano (ADA) could be around $15.428, despite the bearish market that followed a market boom in the early few years ago.

Cardano (ADA) Price Prediction 2040

According to our long-term Cardano price estimate, Cardano prices could reach a new all-time high this year. If the current growth rate continues, we could anticipate an average price of $38 by 2040. If the market turns bullish, the price of Cardano could go up beyond what we predicted for 2040.

Cardano (ADA) Price Prediction 2050

According to our Cardano forecast, the average price of Cardano in 2050 might be above $84. If more investors are drawn to Cardano between these years, the price of Cardano in 2050 could be far higher than our projection.

Conclusion

ADA might reach $0.7 in 2023 and $15 by 2030 if investors have decided that Cardano is a good investment, along with mainstream cryptocurrencies like Bitcoin and Cardano.

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Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of Coin Edition. No information in this article should be interpreted as investment advice. Coin Edition encourages all users to do their own research before investing in cryptocurrencies.

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