Cardano (ADA) Price Prediction 2024-2030: Will ADA Price Hit $5 Soon?

• The bullish Cardano (ADA) price prediction ranges from $1 to $3.
• Analysis suggests that the Cardano price might reach above $2.9.
• The Cardano bearish market price prediction for 2024 is $0.4.

After the first and second-generation cryptocurrencies, Bitcoin and Ethereum, Cardano was introduced in 2017 as a third-generation blockchain. Cardano claims to be a more scalable, secure, and efficient alternative to Ethereum and other decentralized application platforms.

A cryptocurrency like Cardano, which has been around for a while, is one with a growing ecosystem. This year, it has been ranked as one of the busiest. As a result, ADA is one of the altcoins investors are keeping an eye on in the cryptocurrency market.

If you are interested in the future of Cardano (ADA) and want to know the predicted value for 2024, 2025, and 2030, keep reading!

Cardano (ADA) Real Time Market Status

What Is Cardano?

Cardano is a decentralized third-generation proof-of-stake blockchain platform. It is the nexus of five principles: People, purpose, technology, research, and opportunity. Built with the rigor of high-assurance formal development methods, Cardano aims to achieve the scalability, interoperability, and sustainability needed for real-world applications. 

With its in-house cryptocurrency, ADA, it can facilitate peer-to-peer transactions. The Cardano blockchain employs the Ouroboros proof-of-stake (PoS) consensus process for finding new blocks and adding transaction data to the network. In this PoS system, ADA holders lock up or stake their coins in pools operated by other participants or become stake pool operators.

As the name implies, the “environmentally sustainable, verifiably secure” PoS protocol known as Ouroboros is used to protect Cardano. PoW consensus mechanisms are known for their security assurances, but Ouroboros claims it is four times more energy efficient than Bitcoin.

Technical Aspects of Cardano (ADA)

Cardano is being developed in five stages to create a development platform with a multi-asset ledger and verified smart contracts for decentralized apps (DApps). The five phases are named after prominent historical personalities and are referred to as eras. The following are the five phases:

Byron (Foundation)

Cardano’s Phase 1, or Byron, was the initial release for the general public in September 2017. In addition, the Daedalus desktop wallet and the ADA cryptocurrency were introduced by the business.

Shelley (Decentralization)

In the second stage, anyone could participate in the Cardano transaction verification process, making it decentralized. Shelley officially began in June 2020.

Goguen (Smart Contracts)

Smart contracts and decentralized applications will be available in Cardano’s third era. The Alonzo upgrade launch represents the Cardano Goguen era’s roadmap. The Alonzo update was released in August 2021.

Basho (Scaling)

Basho seeks to build sidechains to Cardano to scale it even further. As a result, the main blockchain will be divided into several smaller chains called shards.

Voltaire (Governance)

The long-term ambition of Cardano is to develop an autonomous system independent of IOHK, its parent company. In the following weeks, Voltaire will unveil a full-fledged governance system that users can utilize to decide on new features. A genuinely decentralized platform can be built on top of Cardano after the first phase.

Analysts View on Cardano (ADA)

Dan Gambardello, the founder of Crypto Capital Ventures, believes that despite the bearish circumstances that have prevailed since the beginning of 2022, long-term opportunities will once again exist in the cryptocurrency space.

Denotably, a few people from the crypto community mentioned that although investors and people are investing on only the mainstream coins such as Bitcoin and Ethereum. Investors often skip their eyes on Cardano.

Also, Cardano founder Charles Hoskinson tweeted that the markets are separated from reality, which is a general fact concerning cryptocurrency. Cardano has never been stronger, and many other projects in the industry are equally strong, but you don’t see it reflected- just a sea of red. Cardano is transforming the world because of all of you, and our finest days are yet to be.

Cardano (ADA) Price Analysis 2024

Will the Cardano blockchain’s most recent improvements, additions, and modifications help its price rise? Moreover, will the changes in the payment and crypto industries affect ADA’s sentiment over time? Read more to find out about Cardano’s 2024 price analysis.

Cardano (ADA) Price Analysis – Bollinger Bands

The Bollinger bands are a type of price envelope developed by John Bollinger. It gives a range with an upper and lower limit for the price to fluctuate. The Bollinger bands work on the principle of standard deviation and period (time).

The Bollinger bands are sensitive to the volatility in the market. As such, it widens and contracts based on the market dynamics. Currently, ADA is on an uptrend ricocheting off of the upper band and marking higher lows on the Simple Moving Average (SMA). Since the token’s movements are in the upper section of the bands, it could be considered bullish.

Meanwhile, the Bollinger bandwidth indicator reads a value of 58% and it is heading downwards. This shows that there could be reduced volatility in the market in the coming days. Hence, there is a high chance that the bands could contract.

Cardano (ADA) Price Analysis – Relative Strength Index

The Relative Strength Index is an indicator that is used to measure whether the price of a cryptocurrency is over or undervalued. It has two extreme regions known as the overbought and oversold regions. 

When the RSI reads a value (>70) then the crypto is overbought. On the other hand, when it is oversold, many are selling, as such, its price is undervalued.

The RSI on the chart above reads a value of 63. Since the RSI is neither in the overbought nor oversold zone, the trend is neutral. As the very recent movement of the RSI has been to make lower lows, there is a possibility that the RSI could make another lower low. 

Meanwhile, the RSI indicator shows a divergence. In particular, it is a hidden bullish divergence, where the RSI makes lower highs while the token makes higher highs. This depicts that there could be more room for ADA to gain value and move higher.

Cardano (ADA) Price Analysis – Volume Accumulation Percentage Indicator (VAPI)

The VAPI is an indicator that is similar to the On Balance Volume (OBV)indicator which predicts the price movement based on the volume, except it assigns volume weights based on intraday volatility.

Joseph Granville who first developed the OBV believes that when volume increases sharply without a significant change in the stock’s price, the price will eventually jump upward or fall downward.

The Volume accumulation indicator is currently reading a value of 29. This indicator at the bottom of the chart has been making lower highs while ADA has been making higher highs. This shows that the reduction in volume has caused a price increase. However, since there seems to be distribution than accumulation we may see the price of ADA fall soon. 

Moreover, the thick lines in the chart show the resistance and support levels based on the volume. If the price of ADA falls it may reach out for support between $0.5 and $0.6. However, if ADA gains value, it may reach $1.4.

Cardano (ADA) Price Prediction 2024-2030 Overview

Cardano (ADA) Price Prediction 2024

The above chart shows that ADA has been rising exponentially as shown by the arc in the chart. Suppose this motion of rising exponentially is continued. ADA has a high chance of hitting the resistance level at $1.2 and thereafter it could reach the $1.48 level. 

Thereafter the next resistance level is available at $2.38. However, the $2.38 level is just another stop-over for ADA’s journey toward the $3.00 resistance level. In the unfortunate event that ADA’s current exponential rise is hindered by the bears, ADA could be looking to land on the $0.42 support level.

Cardano (ADA) Price Prediction – Resistance and Support Levels

The above chart shows how ADA climbed through the resistance levels to reach resistance level 3 which is at around $2.3. The Support level in blue has acted as a support and a resistance in the past. Since ADA is currently, moving towards it, now the Support level may act as a Resistance level.  

Cardano (ADA) Price Prediction 2025

Cardano may experience the after-effects of the Bitcoin halving and is expected to trade much higher than its 2024 price. Many trade analysts speculate that BTC halving could create a huge impact on the crypto market. Moreover, similar to many altcoins, Cardano will continue to rise in 2025, forming new resistance levels. It is expected that Cardano (ADA) will trade beyond the $15 level.

Cardano (ADA) Price Prediction 2026

It is expected that after a long period of bull run, the bears will come into power and start negatively impacting the cryptocurrencies. During this bearish sentiment, Cardano could tumble into its support regions. During this period of price correction, Cardano could lose momentum and be way below its 2025 price. As such, it could be trading at $9 by 2026. 

Cardano (ADA) Price Prediction 2027

Naturally, traders expect a bullish market sentiment after the crypto industry was affected negatively by the bears’ claw. Moreover, the build-up to the next Bitcoin halving in 2028 could evoke excitement in traders. However, there’ll be a dip in price before the excitement will be reciprocated in ADA. As such, we could expect Cardano (ADA) to trade at around $18 by the end of 2027.

Cardano (ADA) Price Prediction 2028

As the crypto community’s hope will be re-ignited looking forward to Bitcoin halving like many altcoins, Cardano may reciprocate its past behavior during the BTC halving. Hence, Cardano  (ADA) would be trading at $23 after experiencing a considerable surge by the end of 2028.

Cardano (ADA) Price Prediction 2029

2029 is expected to be another bull run due to the aftermath of the BTC halving. However, traders speculate that the crypto market will gradually become stable by this year. In tandem with the stable market sentiment, Cardano (ADA) could be trading at $35 by the end of 2029.

Cardano (ADA) Price Prediction 2030

After witnessing a bullish run in the market, Cardano and many altcoins would show signs of consolidation and might trade sideways and move downwards for some time while experiencing minor spikes. Therefore, by the end of 2030, Cardano (ADA) could be trading at $45.

Cardano (ADA) Price Prediction 2040

The long-term forecast for Cardano indicates that this altcoin could reach a new all-time high(ATH). This would be one of the key moments as HODLERS may expect to sell some of their Coins at the ATH point. 

If they start selling then Cardano could fall in value. It is expected that the average price of Cardano (ADA) could reach $58 by 2040.

Cardano (ADA) Price Prediction 2050

Since Cryptocurrency will be revered and widely accepted by most people during the 2050s, we will see the masses believe more in it. As such Cardano (ADA) could reach $65.

Conclusion

If investors continue showing their interest in Cardano and add these Coins to their portfolio, it could continue to rise. ADA’s bullish price prediction shows that it could reach the $3 level.

FAQ

Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of Coin Edition. No information in this article should be interpreted as investment advice. Coin Edition encourages all users to do their own research before investing in cryptocurrencies.

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