2021-12-13 22:00:02

Cardano Price Predictions: Where Will the ADA Crypto Go After Today’s Crash?

Crypto investors have not been having a great week as the crypto downturn continues. Crypto benchmark Bitcoin (CCC:BTC-USD) is down 5% the past week, while Cardano (CCC:ADA-USD) is down 11% during the same period. Making matters worse, Cardano has lost 11% of its value in the past 24 hours alone. As of today, Cardano has a market capitalization of $40 billion, making it the seventh-largest cryptocurrency. But investors are anxiously seeking out Cardano price predictions to see where the crypto is going next.

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Cardano operates as a proof-of-stake (PoS) blockchain platform that seeks to be a decentralized application. The Cardano platform runs on the Ouroboros consensus protocol, which was the first PoS protocol to be proven secure. Additionally, the platform provides a multi-asset ledger and verifiable smart contracts. ADA is the digital currency of Cardano. The name is an homage to Ada Lovelace, an English mathematician and the world’s first computer programmer.

Charles Hoskinson originally launched Cardano in 2017 to provide a better alternative to proof-of-work (PoW) blockchains. Interestingly, Hoskinson was also the co-founder of the PoW Ethereum (CCC:ETH-USD) blockchain. He noticed several inefficiencies of PoW that could be improved on, such as energy use and slow transaction times.

With the recent price decline in mind, let’s take a look at some Cardano price predictions made by crypto analysts.

Cardano Price Predictions: Where Will ADA Go Next?

  • FXStreet has a near-term price prediction of $1.75. This prediction implies an upside of 44% from current prices. Analyst Akash Girimath believes that Cardano is currently undergoing a retracement that will support a run to $1.75 based on technical analysis. Furthermore, he stated that $1.60 is a point of resistance that should flip to support after Cardano passes that price. He also noted that the average transaction size for Cardano since the end of November has increased from $23,877 to $83,704. This is a sign that investors are buying more as prices fall. On a bearish note, Girimath explained that his bullish prediction will likely be invalid if Cardano falls below $1.12. If this occurs, Cardano could slip further down to test the $1.02 support.
  • Wallet Investor has a 2026 price prediction of $10.94. Impressively, this price prediction represents an upside of 804%. The prediction is based on technical analysis indicators and trend lines.
  • Digitalcoin has a 2026 price prediction of $4.23. This prediction represents an upside of 249%. Digitalcoin developed its price prediction based on its own proprietary algorithm and historical data.
  • CoinPriceForecast has a 2026 price prediction of $3.68. Notably, this prediction implies an upside of 204%. The prediction is based on “deep learning technology” that takes into account media news, time-series data, coin events and volume.

On the date of publication, Eddie Pan did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

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