- The Cardano (ADA) price closed the previous day’s trade at $0.436 with a market capitalization of $14.81 billion & a circulating supply of 34.26 billion.
- The ADA price has slumped hard below the crucial levels while an attempt to surpass these levels also stand void and hence an extensive bearish action may eventually lay down a firm uptrend ahead.
Cardano Price Prediction Today
|ADA Price Prediction for Today||$0.45|
|14 Day RSI||43.66|
|Fear and Greed Index||25 (Extreme Fear)|
Additional Read: Top Altcoins 2022
Cardano Technical Analysis
- The Cardano price is stuck up within a bearish descending triangle for quite a long time and the recent price action dragged the price lower within the crucial demand zone
- While the token is attempting very hard to rebound finely, the bearish pressures is restricting the price within the demand zone
- Hence the ADA price may retest the lower support levels before rebounding and slicing through the triangle.
- The upswing may compel the price to test the upper targets initially at $0.51, later at $0.54 & finally at $0.58.
- If the ADA price fail to sustain at the demand zone, then they may eventually drop to the lower support at $0.38 and flip firmly to rise high.
Additional Read: Cardano Vasil Upgrade
Cardano On Chain Analysis
- The active addresses on the Cardano platform have witnessed a significant drop ever since the prices dropped in January 2022. The addresses which were around 280K during the mid of January have dropped to 78K at the moment.
- The Sharpe ratio has turned negative which indicates the investment in the asset could be pretty risky.
- The transaction count of ADA has been constantly dropping ever since the price marked its highs in September 2021. The drop in the transaction count may indicate less participation of the investors or a shift of focus to another platform.
WILL Cardano PRICE REACH $0.5 TODAY?
The Cardano price registered a bearish close for the previous quarter and moved on to mark the lows, a couple of days before. However, with the beginning of the fresh weekly trade, the prices gained some strength and elevated to some extent. However, the bears appear to have gained momentum and hence are compelling the price to remain restricted below $0.43.
While the technicals have turned bearish, the ADA price may continue to flow down towards the south. The prices are expected to retest the local support at $0.426 before making a rebound. As the trade approaches the day’s close, the volatility of the asset may increase to some extent, which may push ADA price higher.
Therefore, the Cardano price prediction for the day is around $0.43 to $0.435.
WILL Cardano Price REACH $1 by the End of October 2022?
Despite an extensive squeeze in the volume, the Cardano price is attempting very hard to sustain above $0.4 levels. Although prices haven’t changed much in the last few months, a steady trend is anticipated until the year’s close. On the other hand, October is believed to be somewhat bullish, and if market sentiments ease a little, ADA price may rise significantly.
The ADA price is believed to rebound slightly during the mid of October and lay down a firm upswing towards the immediate highs of around $0.65. If the bulls manage to sustain above these levels, then a significant uptrend may further raise the price to close to $0.8 by the end of the month. Therefore, the Cardano price prediction for the week is around $0.47 while for the month it is around $0.78.
Cardano Price Prediction 2025-2030
Cardano’s price is closely trading along the lower support for an extended time frame and is hence believed to explode from the consolidation very soon. The ADA price during the final quarter of 2022 is expected to soar high and sustain beyond $0.8 and attempt to rise back above $1.
While the bears may again drag the price below $1, a brief correction may re-install the required strength to regain the lost levels. Furthermore, despite the bearish actions, the price of ADA may keep rising in the upcoming years. The ADA price is anticipated to reach new highs eventually, by the end of 2023 or in the first half of 2024, though a pre-bull rally may allow the price to do so much earlier.
|Year||ADA Price Forecast|
|2022||$0.89 to $1.12|
|2023||$1.5 to $2.24|
|2024||$2.8 to $3.5|
|2025||$4.9 to $6|
Additional Read: Cardano Price Prediction
Cardano News Today
- Cardano’s much awaited Vasil Hard Fork went live on the mainnet which intends to improve the performance, scalability & throughput.
#Vasil mainnet HFC event successful!🍾
We’re happy to announce that today, at 21:44:00 UTC, the IOG team, in collaboration with the @CardanoStiftung, successfully hard forked the Cardano mainnet via a HFC event, thus deploying new #Vasil features to the chain.
— Input Output (@InputOutputHK) September 22, 2022
- Input-Output, the parent organization of Cardano announced its collaboration with Stanford University to fund new research on blockchain technologies
Read about this new partnership here👇 https://t.co/yTEJo2AVdl
— Input Output (@InputOutputHK) August 30, 2022
Read more Top Crypto News