2021-10-26 09:13:07

ADA Price Prediction 2021, 2022, 2023, 2024 2025 Trading Analysis Chart & Review


With long-term projections of a seismic financial shift towards crypto, after failing to hold the $50,000 threshold, Bitcoin is holding around $45,000 in September. Meanwhile, the second-largest by-value in the crypto block Ethereum is outperforming Bitcoin touching a September high of around $3,900 per ether token. Amidst the search for the concrete direction, when there is projected to outperform bitcoin this year, crypto investors are chasing the hottest in the block Cardano’s ADA, with a price target of $3, with a current price in the range of $2.4 and $2.5 per unit. The announcement of the “Alonzo” upgrade, mainly the smart-contract feature, by CEO Charles Hoskinson, has positively affected investor sentiment.  The price surge of ADA in the last two months or so is mainly backed by the successful launch of the Alonzo test net and the imminent arrival of the Alonzo mainnet hard fork.

Although, bullish price projection of ADA is above $4 per unit, will it hold and rise against the giants in 2021 when geopolitical turmoil is at its peak and global consumer demand is still far below normal? ADA price is expected to hit an all-time high in September, backed by factors like broader crypto market rally, the launch of smart-contract functionality like ethereum, and relatively better green energy credentials against energy-intensive peers like bitcoin. Let’s dig deeper and find what makes Cardano ADA hot crypto in the short and long term.

 

What is Cardano ADA?

Cardano, a blockchain-focus cryptocurrency network, was founded by ex-co-founder of Ethereum Charles Hoskinson in 2017 with a market cap of $600 million. After leaving Ethereum Hoskinson founded a blockchain engineering company named Input-Output Hong Kong firm (IOHK), with a focus on eliminating challenges of slow and inflexibility of Bitcoin, safety, and scalability of Ethereum.

Unlike proof-of-work protocols of Bitcoin and Ethereum, Cardano uses an energy-efficient proof-of-stake protocol named Ouroboros. The biggest proof-of-stake cryptocurrency used just 6 GWh annually as against the 110.53 TWh used by the bitcoin network.

Just like Bitcoin, the Cardano platform has ADA as the settlement layer to keep track of transactions. This native cryptocurrency of Cardano functions as a means to pay for services on the platform. The computational second layer of Cardano is like Ethereum, enabling developers to create smart contracts and decentralized applications.  The technology ecosystem is highly innovative, after the Goguen manner the $78 billion market cap crypto major is implementing decentralized finance (Defi) services, including an upgrade to enable smart contracts and the ability to build decentralized applications (DApps).

It is all about making crypto trade simple, so Cardano offers network users smooth trading and transfer of funds using crypto exchanges like Upbit, Binance, Digiflex, and many more. Since security and scalability are big challenges, users could keep coins safely in Daedalus, the crypto wallet of Cardano.

Cardano (ADA) Technical Analysis

ADA broke the $1 barrier on Feb 20, 2021, and the much anticipated $2 target on May 14, 2021. Currently, it is trading at $2.61 with a trading volume (24 hr) of $8.47 billion. Although Cardano ADA is in red (-4.92%) in the last 24 hours, it is holding in the $2.4 and $2.6. With projections of hitting $3 in September, ADA is currently the most aggressive crypto-currencies in the block.

In terms of its market standing, ADA The market capitalization of ADA touched the $99 billion mark on September 9, but currently at $85.15 with trading volume touching $7.8 billion. Most of the crypto analytics platforms are currently ranking Cardano ADA at no.3, making it the best energy-efficient cryptocurrency with the proof-of-stake protocol. Going forward, in a three-month range, ADA is projected to touch the $4 mark this year if all goes well with broader crypto market sentiment and Cardano’s tech upgrades.

Cardano (ADA) Price Prediction

The 2021 price trend of Cardano ADA is showing strength-to-strength upward movement, making it one of the most trusted players in the crypto space. The Ascending Channel pattern shows Higher Highs and Higher Lows, indicating a bullish rally breaking the resistance level and hitting a new high in the coming months. Helped by the broader bullish crypto market trend added by tech upgrades, ADA is most likely to outperform peers in the short-range. 

cardano

Cardano (ADA)
Rank: 5

Although price level is not the indicator, the Relative Strength Index (RSI) at 56.53 indicates an overbought condition, meaning traders are more confident about upward movement. The Simple Moving Average and the Exponential Moving Average of ADA have several rounds of bullish moves, followed by consolidation, fluctuation, and corrections in the upward trajectory. 

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Cardano Price Prediction 2021

Going by the price movement trend of Cardano, it could be easily said that there are strong bullish signals. Global economic and geopolitical trends indicate that the market will remain favorable for crypto, and this will favor ADA more as the blockchain major is launching the Alonzo mainnet hard fork to enable smart contracts. You will see the coin will hit $4 value by the end of this year.

Cardano Price Prediction 2022

If we go by bullish projection, ADA might break the $3.13 resistance level and go further beyond $6 by the year-end. In the hyper bullish crypto scenario, analysts believe it could go further and reach $7-$10 in 2021.

ADA

Cardano Price Prediction 2023

If the crypto trend reverses, ADA, just like others, could see price fall in short-range to the current resistance level of $12. In the worst-case scenario, it could fall deeper to $10 level before regaining the composure to bounce back to the bullish position. Investors are relying heavily on the success of the third blockchain upgrade, and expecting the ADA price to breach the $15 level before the year-end.  

Cardano Price Prediction 2024

Crypto experts believe momentum is in favor of Cardano, and if the trend continues the ADA could reach $20 level in 2022, with a bullish high of $25 with correction and consolidation around $20. If it breaks the psychological resistance level in 2022, it will grow faster and is likely to reach $18 in 2023 and $25 in 2024.

Cardano Price Prediction 2025

Cryptocurrency is here to stay, no matter what the doomsday experts say. Going by the trend and correction round, it could be easily said that Cardano ADA is holding the fort and gaining ground with a strong tech push. With scheduled upgrades, ADA is likely to maintain the bullish momentum and perform both bitcoin and ethereum. It could easily move to $35 in September and breach the $20 resistance by year-end if broader sentiment remains the same.

FAQ

Will ADA reach $10?

The ADA has had a growth rate of over 650% in the past years. With promising energy-efficient proof-of-stake protocol and smart contract upgrades, it is likely to breach the resistance level of $5 in 2021 and reach $10 next year.  

Is Cardano a good investment?

Cardano is one of the most trusted digital assets backed by advanced technology supporting speed, safety, scalability, and flexibility. Going by the activity, volume, and investor trust it could be easily said that fundamentals are strong, with promising returns.

Is Cardano better than Ethereum?

In terms of scalability and safety, Cardano ADA is technologically better positioned. Both have unique quality features to make the crypto network great. Cardano is relatively young, but evolving fast to be at par with peers.

Will Cardano prices grow/rise/go up?

Going by the track record and supportive upgrade launch, it will unquestionably move upward with rounds of upswing, correction, and consolidation. The year 2021 is so far great for the ADA with price breaching the $1 and $2 levels, and it is projected to reach $3 level in September and $5 level by year-end.

Will Cardano overtake Bitcoin?

Cardano will keep on gaining momentum and outperform, it is for sure. It is projected to reach the $10 level in 2022, but it won’t overtake or surpass in the foreseeable future.

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