ADA – the cryptocurrency that powers Dash’s decentralized governance and budgeting system. It can be bought and sold on various cryptocurrency exchanges, including Bittrex and Poloniex, but its true value is in use and adoption on the Dash network. It is important to remember that the price of ADA is only relevant relative to its trading value in Dash.
ADA has long been one of the most anticipated cryptocurrency ever since its launch in 2016. The project received a lot of press and attention for being a next-generation decentralized digital currency with a focus on cost and speed. As of today, the coin is sitting at around $0.06 and even received a favorable price prediction by famed cryptocurrency analyst, Tone Vays. Vays believes that ADA could reach $1.50, a price level that would make it valued at $1.43 billion.
ADA (the original digital currency) has had a rough go of it for the last year or so, and investors are wanting to know if this coin is about to reverse its trend and return to glory. Right now, it is sitting at a price of $0.25, and the market is looking for the price to rise to somewhere between $0.50 and $1.50. If this price target is reached, the coin will have succeeded in stabilizing itself.. Read more about cardano and let us know what you think.
After a recent surge, the cryptocurrency market is consolidating, but ADA’s gradual rebound may lead to another significant milestone.
Over the weekend, the cryptocurrency market performed very well, with Bitcoin eventually breaking the $43,000 barrier and now aiming for the $45,000 resistance level. Ether, on the other hand, hit $3,000 over the weekend but has since fallen to $2,900.
ADA rose throughout the weekend as well, but is now down over 3% in the last 24 hours. Cardano’s price is rising again, and it may aim another rise in the next hours and days, so the consolidation may not last long.
Price forecast for ADA
The 4-hour chart of ADA/USD is presently positive, with Cardano’s price up more than 1% in the last four hours. ADA has cleared the $1.42 barrier level and is now aiming for the next resistance level at $1.45.
Over the following several hours, a rise in the wider cryptocurrency market may push the first resistance level at $1.45 into play. However, until the positive mood in the market persists, the second key resistance level around $1.50 may limit further higher momentum.
4-hour chart of the ADA/USD currency pair. Source: Coinalyze
ADA may challenge the $1.75 barrier level in the next days if a bullish breakout occurs. The RSI is presently above 50, indicating that Cardano’s technical indications are positive. The MACD line is in positive zone as well.
Failure to break through the $1.45 resistance level, on the other hand, may enable the bears to reclaim control of the market. In that case, the bulls would have to defend the $1.33 support level, which is also the 4-hour 100 simple moving average for Cardano (SMA).
The weekly low of $1.27 may come into focus during the following several days if there is a prolonged market sell-off. The success of ADA, on the other hand, may be influenced by the wider market and how it responds to the current rebound.
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Frequently Asked Questions
Can Cardano surpass ethereum?
Cardano is a cryptocurrency that has been designed to be scalable, secure and sustainable. It is currently the third largest cryptocurrency in terms of market cap.
Will Ada reach $1000?
Ada is currently at $898.
Will Cardano reach $20?
It is impossible to say for sure what the price of Cardano will be in the future.
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