- The Cardano price closed the previous day’s trade at $0.466 with a market capitalization of $15.63 billion and a circulating supply of 33.75 billion
- ADA price is attempting very hard to remain within an ascending trend, but the bears may compel the price to drop by another 10% by the month-end
Cardano (ADA) PRICE & Technical ANALYSIS
|ADA Price Prediction for Today||$0.479|
|14 Day RSI||40.25|
|Fear and Greed Index||25 (Extreme Fear)|
|Green Days||16/30 (53%)|
Cardano Technical Analysis for the Month
- ADA price was on its track to hit $0.6 just a couple of days before, while an extensive bearish pressure dropped the price by nearly 20%
- While the monthly close is fast approaching, the price could slightly increase its volatility but towards the south
- Mainly due to the reason that Cardano is swinging within a bearish pennant and hence primed to drop heavily in the coming days
- Considering the length of the flagpole, it is speculated that the price may drop below $0.37 but only if the support levels at $0.39 fails to hold the rally.
Cardano Technical Analysis at a Glance
The Cardano price, ever since marked the highs, has been constantly forming lower highs and lows, trapping the bulls very often. In the past couple of months, the trend has been more or less stagnant, but held above the support zone. However, in the upcoming days, the rally may face extreme bearish pressure and hence the price could record new lows soon.
|Short-Term||The ADA price has risen nominally but may soon face rejection as no strong buying pressure is materialized|
|Mid-Term||The selling pressure is slowly easing and hence a short-term bounce may be fast approaching|
|Long-Term||Cardano has bottomed hard, therefore, may witness a bullish action in the next couple of weeks|
Read more on Cardano Technical Analysis
Will ADA Price Reach $0.48 Today?
The ADA price closed the previous day’s trade on a bullish note after receiving notable buying pressure. The uptrend continued until the asset tested the daily highs at $0.47 which was further followed by a bearish action. However, the asset is utilizing all its resources to recover fast, but the bears could restrict the price below $0.465.
The asset is expected to trend sideways for another couple of hours until it approaches the day’s close. Similar to the previous day, the price may begin to rise in the last few hours of today’s trade and mark the daily highs above $0.473.
Additional Read: Cardano Price Prediction 2022
Will ADA Price Reach $0.55 by the End of the Month?
The bears appear to have capitulated the entire crypto space and have set up a bearish path for most of the assets. The formed bearish pattern is expected to compel the price to drop harder towards lower support However, fewer chances of a rebound emerge as the RSI & MACD are slightly bullish.
If the price closes the day’s trade on a bullish note, it may maintain an ascending trend further until the end of the month. Therefore, the ADA price could surpass $0.5 in the next couple of days and may attempt to rise beyond these levels as the monthly close approaches. By the end of the month, the asset is expected to hover between $0.49 to $0.51.
Cardano Price Prediction: Price Trend Comparison with Solana
- Cardano & Solana are considered tough competitors within the Smart Contract space and claim to be the ‘Ethereum Killers’
- The price movements of both the assets appear to be much similar, including the upswings and the price plunge, however, SOL displayed a little more strength
- The ADA price rose from the bottoms at around -11% and reached the highs at +24% and currently trading at -3.84%
- Conversely, SOL price surged from the same bottoms and smashed +32% and trading at -2.42% at the moment
Cardano Price Prediction: 2022, 2023, 2024, 2025
Cardano is among those projects which have the potential to attract huge profits in the coming years. Apart from being fundamentally strong, the ecosystem is swelling extensively indicating a significant upside trend fast approaching. No doubt the year 2022 remained pretty passive and consolidated, with the launch of Vasil Hard Fork, the trades may turn bullish ahead.
In the upcoming years, the ADA price may not only reach its ATH but may form a new high beyond $5.
|Year||ADA Price Forecast|
|2022||$0.68 to $0.75|
|2023||$1.12 to $2.2|
|2024||$3 to $4.8|
|2025||$4.5 to $5.9|
Cardano News Today
- Cardano’s Vasil Hard Fork is fast approaching and hence nearly 45% of the nodes have been upgraded to the newest version (V1.35.3)
— Cardano Feed ($ADA) (@CardanoFeed) August 24, 2022
- Cardano beats Paypal, Netflix & Youtube in Annual Energy consumption, offering a significant win for the crypto industry
- Cardano founder Charles Hoskinson defends the Toronado Cash founders saying that the developers wrote code and as it is open source, it was used for heinous activities.