Cardano price prediction: ADA/USD back to 50 cents in 2023? – Buy cheap IMPT in pre-sale

Cardano Vision

The price of Cardano has been going down steadily for a long time. Investors wondering how long downside and when Ada / USD can turn around. According to price forecasts by analysts, the bottom could be reached soon.

As of this writing, ADA/USD is trading at around $0.37. Although the altcoin has recovered slightly since the weekend, it is still close to the annual low of around $0.35.

Cardano price drops from $3 to almost 30 cents

This means there is still a long way to go before a trend reversal is confirmed. In light of rising inflation and interest rates, economic policy signals remain weak. As long as the US Federal Reserve does not ease tight monetary policy and inflation falls, it will be difficult for ADA/USD to see a big pump in the near term.

Cardano’s price was last at its current low in January 2021. ADA buyers should know what follows. Within eight months, the price exploded to more than $3, a growth of almost 10X. Those investors who sold their investment around these highs should now enjoy their huge returns.

Is Cardano worth owning?

But what about the buyers who don’t just see Cardano as speculative, but are fundamentally sure about the idea and the project and are also keeping their investment in the bear market. Can they expect ADA to rise back to $3 or higher sooner or later and be rewarded for their loyalty? Or does the current correction go even further and should you sell now?

In addition to the price forecasts, it is worth looking at the chart analysis and plans of the Cardano Foundation.

From a technological point of view, experts confirm that the Cardano project has potential. The blockchain was one of the first on the crypto market that relied on the proof-of-concept consensus mechanism. This form of validating new blocks is much more energy efficient than the proof-of-work method used by Bitcoin.

Green blockchain: Cardano pioneer for Ethereum

Many other blockchains have since followed Cardano’s example. Along with many startups, the Ethereum blockchain, probably the most famous Bitcoin alternative, has recently changed from proof of work to proof of proof.

In order to live up to its claim as a “green” blockchain and perhaps a better alternative to Ethereum, the Cardano Foundation, led by the founder Charles Hoskinson, who himself was one of the co-founders of Ethereum, made several i far-. achieve updates in the network in recent years.

So the Cardano blockchain has become much faster in transactions, scalability has increased and interoperability has increased. Cardano is now a multi-asset platform for decentralized applications.

ADA/USD cannot take advantage of a hard fork

But recently there have been problems and delays with the latest “Vasil” upgrade. Although the hard fork was made late, it couldn’t deliver the expected pump for the ADA course.

It can therefore be said that while there is great potential for the Cardano blockchain to continue to grow and attract more applications to its platform, the course will probably not benefit from this in the short term due to the overall economic situation.

As for the Cardano price forecast, the technical aspect is quite negligible at the moment. Technical analysis of the charts can provide additional clues to the ADA/USD trend.

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Price Analysis: Key support at $0.35, resistance at $0.54

On the daily chart, the analysis shows that the price has been in a major consolidation phase since mid-May. Inside a falling parallel channel, ADA/USD has repeatedly tested the support and resistance area. Currently, the altcoin is close to the support zone again. If this is missed, another sale is expected. Therefore, it is crucial for ADA/USD to maintain the $0.35 level to prevent the price slide.

On the other hand, it would be bullish if ADA/USD could leave this trend channel to the upside. The resistance zone is currently in the $0.54 area. So there is still a long way to go to get here. From its current price, the altcoin needs a rise of more than 45 percent to even be able to test the resistance area. And only when this mark is broken will the opportunities for further growth increase.

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A large chart pattern is bullish

Meanwhile, a second chart pattern in the ADA/USD rate is giving bulls hope. Therefore, since the top of September 2021, the altcoin has formed a large falling wedge, which is a bullish pattern according to technical analysis.

In early September, ADA/USD managed to break the resistance area. Since then, however, there has been no further rise and a retest of the previous resistance as new support is yet to come. If this were to succeed, it would be a clear bullish signal that could start a trend reversal.

For this bullish iteration, however, ADA would first have to undergo a massive correction. Because $0.16 is the new support right now. That is another drop of more than 50 percent. This correction would have to be made by the beginning of November at the latest so that this case could still be made.

Digital prices

Forecast for Cardano: $2 again in 2030?

The expectations of the various analysts regarding the ADA/USD exchange rate tend to be cautious. Digital Coin Price believes that the Altcoin will be able to jump above $0.5 again in 2023, but a huge increase like in 2021 is no longer expected. Cardano could reach $1 in 2025 and reach $2 by 2030. However, a new all-time high is not in sight.

The forecast at Coin Price Forecast is even more cautious. After increasing to 50 cents by 2023, the exchange rate should not reach one dollar until 2028. Even in 2024, analysts do not expect ADA to rise above $1.5. That’s not even half the all-time high.

Wallet Investor’s forecast is dire. They expect the price of ADA/USD to fall by 99 percent over the next 5 years. That would be a total loss.

Buy another IMPT on Ethereum blockchain

The new crypto project IMPT, dedicated to the mega-topic of climate protection, may offer a better investment opportunity right now. Based on the Ethereum blockchain, buyers of IMPT tokens can trade carbon credits. NFTs are also rarely an incentive system.

The new cryptocurrency is still in pre-sale and is already attracting a lot of interest before it can be bought on crypto exchanges. Investors have already invested more than 4 million dollars in the token.


Cardano (ADA): price forecasts that do not look good

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