HomeNewscoinquora.comCardano Price Prediction 2021- Will ADA Price hit $10 in 2021?

Cardano Price Prediction 2021- Will ADA Price hit $10 in 2021?

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  • Bullish ADA price prediction ranges from $2 to $5.
  • The ADA price might also reach $10 soon.
  • ADA bearish market price prediction for 2021 is $1.1.

This Cardano Price Prediction 2021 article is based on technical analysis alone. Below, you will see the key metrics that we have taken into consideration upon coming up with our ADA price analysis and prediction.

Cardano is one of the cryptocurrencies that continue to develop its ecosystem technology. It is considered one of the busiest platforms this year. As a result, ADA is one of the altcoins that investors eye in the crypto space.

In the past months, ADA has expressed its plans to collaborate with Litecoin. This partnership aims to bridge the gap between cross-chain communications. Hence, Cardano can easily receive payments from Litecoin and other altcoins in the crypto space instantly.

Now that we’ve seen the developments of Cardano, will it be a profitable cryptocurrency in 2021? Let’s find out in this CoinQuora Cardano Price Analysis and Price Prediction 2021.

Overview

Cryptocurrency Cardano
Ticker Symbol ADA
Price $1.27
All-Time High $2.46
All-Time Low $0.01735
Market Cap $40,639,177,760.42
Trading Volume  $2,329,626,508.34
Circulating Supply 32,041,069,499 ADA
Total Supply 32,844,877,815 ADA

What is Cardano (ADA)?

Cardano is a blockchain-focus network that contains its own mainnet. Moreover, the crypto could perform all the things it thinks necessary for the network without any restrictions. Notably, when it comes to the development of the platform, Cardano is created by the Input-Output Hong Kong firm (IOHK). More so, the Charles Hoskinson, BitShares developer and Ethereum Co-Founder, leads the said company.

In addition, the Cardano network aims on offering a platform for developers where they could create smart contracts and decentralized applications. Recently, Cardano upgraded to Goguen mainnet, which is a blockchain technology that offers token lock network features.

Added to this, ADA is the native cryptocurrency of Cardano. However, it functions as a means to pay for premium services on the platform. Added to this, users in the network could transfer and trade their funds utilizing various crypto exchanges such as Binance, Digifinex and Upbit to name a few. These coins can be safely kept in Daedalus, Cardano’s own crypto wallet.

Now that we already have an idea about what Cardano is, now let’s look into the price analysis of ADA.

Cardano Current Market Status

ADA remains to be one of the most aggressive cryptocurrencies nowadays. According to CoinMarketCap, the ADA price is $1.27. Notably, ADA was able to record an decreased rate of almost -5.45% in the last 24 hours.

In terms of its market standing, ADA market capitalization amounts to almost $40,528,481,208 with a 24-hour trading volume of over $2,342,900,542. As a result, the crypto ranks as one of the top 5 cryptocurrencies in CoinMarketCap. With all these achievements, we can say that ADA has come a long way in developing its technology throughout the years.

Now that you already have an idea about what ADA cryptocurrency is, do you think ADA is a good investment this year? If you are already excited to know, come, and together let us check this ADA price analysis and price prediction article.

Cardano Price Analysis 2021

Cardano continues to be one of the trusted digital assets in the crypto world. In terms of market position, the market capitalization of the crypto amounts to almost $14 billion. As a result, Cardano ranks as one of the top 10 cryptocurrencies in CoinGecko.

Do you think this is enough to maintain Cardano’s uptrend position this year? Are you already curious? Therefore, join me and let us check the chart in this Cardano price analysis to find out.

ADA Ascending Scallop
ADA Ascending Scallop (Source: TradingView)

Based on the chart above, Cardano positions itself along with the raging bulls. Also, the graph displays the crypto’s over +50% surge from January 28 to February 21, 2021. Today, ADA trades at a high price of $.44 with a 7days increased rate of +39.1%.

In addition, we can see that Cardano recently performed an ascending scallop pattern. In other words, ADA is gearing itself for a possible bullish rally in the days to come. If this happens, the crypto might go beyond its $.46 resistance level and reach the bullish price of $.70. Of course, this is most likely to happen if the bullish market continues to reside with Cardano.

Conversely, if the bulls turn against the crypto, the price of ADA might fall. In short, Cardano might break out from its uptrend position and nosedive to a bearish price of $.37 to $.33. Indeed, this price level is not a good picture in the eyes of the investors.

In terms of trading, Cardano positioned itself above the ALMA indicator, a bullish signal. With this in mind, traders, especially scalp and day traders, can trade with confidence without worrying about a major price reversal.

Cardano Price Prediction 2021

The Cardano network is one of the most active cryptos this year in terms of technology development. Recently, Cardano released a statement regarding the progress of its Goguen mainnet upgrade. This mainnet upgrade unlocks more features in the network that users can enjoy and experience.

Do you think this is enough to make Cardano profitable crypto to invest in 2021? Let’s head to the chart in this Cardano price prediction to check it out.

ADA uptrend position
ADA uptrend position (Source: TradingView)

The graph above shows how ADA successfully defended its bullish position against the market volatility threats in the past months. It also displays how the crypto manages to recover from its bearish downfall of $0.11 last November 26 to $0.17 after 48 hours. As a result, the trade volume of a crypto boost to over $1.6 billion with a growth rate of +620.72% in the last 6 months.

ADA Fibonacci retracement
ADA Fibonacci retracement (Source: TradingView)

On the other hand, the crypto is showing strong bullish signals against the bulls. In this graph, the crypto trades at a high price of $0.17 with a 24-hour growth rate of over + 13%. If this bullish trend continues, ADA might be able to break its $0.18 resistance level. It could even go further beyond $0.18 before the year ends and is likely to reach $2 – $5 in 2021 if the market continues to favor crypto.

However, if the market turns against the crypto, ADA could experience a price decline, an event in favor of the bears. This bearish event could trigger a price rollback below $0.16 and could even fall deeper near the Fibonacci level of 0.382. In this case, the crypto must find a way to regain its composure and recover back to its bullish position. Otherwise, the bears might turn the support level to the new resistance level, an event not favorable to investors.

Moreover, Cardano is on its way to completing its third blockchain upgrade. If this becomes successful, the crypto is likely to go beyond $0.18 before 2020 ends. It could climb further to $5 in 2021 if ADA continues to win the trust of its investors.

Cardano Price Prediction 2022

If this bullish trend continues, Cardano will reach $7 by the end of 2022. Moreover, the first half of 2022 is going to show fast growth, up to $8.5. Then this rise will slow down, but no major falls are expected. With upcoming, partnerships, and developments reaching $7 is quite optimistic in the price point of view but undoubtedly feasible for the near future.

Cardano Price Prediction 2023

The price of Cardano can move even great heights, however reaching $12. Moreover, this is possible only if the market maintains its bullish trend. In addition, only if the cryptocurrency Cardano breaks past the psychological resistance level.

Cardano Price Prediction 2024

As per the latest upgrades, developments, Cardano price prediction, and new project forecasts of the platform. Moreover, this might boost the price of Cardano in the crypto market, and it will be the best investment as the price can spike and reach around $18.

Cardano Price Prediction 2025

In the next four years, Cardano prices could race up to $25. However, reaching this level could not be so difficult for Cardano as additional medium, short-term, and long-term price targets could be found to purchase or sell orders. This indicates that Cardano has a high possibility of reaching a new ATH soon in the next five years as per the prediction.

Conclusion

Cardano has a bright future ahead of it in 2021. With the ongoing developments happening within the Cardano ecosystem, as well as in the overall crypto market, we may see Cardano reach new heights.

Bullish Cardano price prediction 2021 is $2. It may even reach over $10 if investors have decided that Cardano is a good investment in 2021, along with mainstream cryptocurrencies like Bitcoin and Ethereum.

FAQ

Will ADA reach $10?

In terms of market position, Cardano has had a growth rate of over +665.2% in the past year. If this trend continues, there is a big chance that Cardano can reach the bullish price of $10.

Is Cardano a good investment?

Cardano proved to be one of the active and busiest digital assets in the crypto world in the past year. With this in mind, it is wise to say that ADA is a good choice of investment.

Is Cardano better than Ethereum?

In terms of technology and functions, ADA and ETH both have unique quality features. Therefore, it is too early to tell which one is better than the other.

What will be the Cardano price by 2022?

Cardano (ADA) price is expected to reach $7 by 2022.

What will be the Cardano price by 2023?

Cardano (ADA) price is expected to reach $12 by 2023.

What will be the Cardano price by 2024?

Cardano (ADA) price is expected to reach $18 by 2024.

What will be the Cardano price by 2025?

Cardano (ADA) price is expected to reach $25 by 2025.

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

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