Cardano Price Prediction 2023: ADA Price Regains Strength, Can it Reach $1?

Key Takeaways

• The Cardano price has been trading in a significant ascending trend after rebounding from the lows during the middle of June.
• Despite a bullish upswing, the ADA price continues to remain under a bearish influence in the short term but flashes bullish signals in the long term.
• The volume is rising slowly, flipping the technicals and the on-chain fractals under a bullish influence, which may offer the token a needed boost to propel higher.

Cardano Overview as of July 28, 2023

Cardano Price	$0.3071
24 Price Change	-1.37%
7D Price Change	-2.56%
Market Cap	$10.57 billion
Circulating Supply	~35 billion
Trading Volume (24-Hour)	$155.76 million
ATH	$3.09
Fear-Greed Index	52 (Neutral)
Sentiment	Bearish
Volatility	5.60%
Green Days	13/30 (43%)

ADA Price Forecast For This Week

The crypto market spiked just before the end of the first fortnight, keeping the token’s price higher for a while. The rally remained short-lived as the bears dragged the prices lower and successfully restricted the rally below the pivotal resistance levels. However, the price levels are trying to set up a fine upswing as the bulls are slowly gearing up, displaying significant bullish momentum. Therefore, the upcoming weekend could be important in determining the next course of action for the crypto token. 

The volume is slowly rising, and the daily RSI is also maintaining a fine upswing. Therefore, the ADA price is believed to undergo massive price action during the weekend, while the direction may be depending on the induced volume. The bears have hindered the rally and failed to create notable selling pressure; hence the bulls are believed to flip the trend in the coming days. By the end of the week, the ADA price could sustain above $0.3 and try to close above $0.31.

Read More: Solana Price Prediction

Cardano Price Prediction for July 2023

The ADA price has displayed enough strength since the beginning of the year, but the collapse in June slashed the strength to a large extent. Since then, the price has been rising at a slower pace but with increased strength. ADA has been trading with constant higher highs and lows within an ascending trend, which is believed to continue until the end of the month. 

The weekly close is fast approaching, which may play a vital role in determining the behavior of the token during the monthly close. The weekend trade is believed to flip the prevailing trend, and if a fine upswing is laid down, the ADA price may close the monthly trade on a bullish note. The levels may be around $0.326 to $0.33 in such cases. Otherwise, if the bears intensify their action, the price may remain consolidated below $0.31.

Cardano Price Prediction 2023-2024

Cardano, known for its rigid fundamentals and slow-progressive development activity, manifests acute strength compared to the other altcoins. Although the price failed to record huge spikes, the bearish actions were also limited. The price is now acquiring notable strength, which may settle bullish closes in the coming days. With a slight change in market sentiments, the price may lay down a fine upswing and close the yearly trade between $0.5 and $0.65. 

The third-generation crypto is speculated to begin the 2024 trade on a bullish note, with prices heading to reclaim the $1 milestone. The price may mark yearly highs at $1.5 to $2.2 by the end of Q1 and encounter a bearish attack throughout Q2. Initially, it may appear to be a healthy pullback but may end up being a correction while the levels sustain above $1. During the second half, the market sentiments may flip in bullish favor and could trigger a healthy upswing. The price may record a new ATH above $4 with a bull run beginning by the end of 2024. 

ADA Price Prediction 2023-2050

Year	Cardano Price Forecast
2023	$0.5 and $0.65
2024	$3.85 to $4.2
2025	$4.5 to $4.8
2026	$1.8 to $2.2
2030	$8.5 to $10.3
2040	$22 to $25
2050	$42 to $45

Cardano Technical Analysis

Source: Tradingview

• After rebounding from recent lows, the ADA price is trading within a rising wedge pattern but pretty distinct from the apex.
• Hence, the price is believed to maintain a consolidated upswing as the RSI is maintaining a significant upswing and may soon reach overbought levels.
• The price may reach the interim resistance at $0.359 and undergo a minor pullback but may sustain within the triangle. 
• Once ADA price surges beyond the first target placed at $0.389, then the rally might be able to trigger a healthy upswing to test the upper targets in the coming days. 

Additional Read: Polkadot Price Prediction

Will the Cardano Price Rise Again in 2023?

The third-generation crypto, Cardano, is known for its slow and steady rally, much like that of Ethereum. In such a case, the price could continue on a healthy upswing for the rest of the year, attracting significant buying pressure. However, the bearish action cannot be eliminated, but the bulls could manage to hold the price above pivotal support. Therefore, the Cardano price may certainly not trigger a bull run but may maintain a healthy price rise in 2023.

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