Cardano (ADA) Technical analyses & Price prediction

Cardano is the first blockchain platform established through peer-reviewed research. Its security is strong enough to protect data, it has enough scalability potential to adapt to the global system, and it has enough robustness to support basic changes. ADA was created by former Ethereum co-founder Charles Hoskinson. It is considered a third-generation blockchain, which is different from Bitcoin or other Bitcoins. Cardano was launched in September 2017 and has quickly become one of the top cryptocurrencies. The programming language used by Cardano is the native language of military infrastructure and other well-known industries, making it very valuable and interesting for various industries. It can also be used to prevent counterfeiting in the future.

Cardano Technical Analysis

Cardano has achieved amazing success in entering the market. To help raise funds for the development of the project, Cardano’s team raised more than $63 million during the ICO. Within the first week of its release, ADA experienced significant growth and its value soared, with a market value of more than $600 million as of October 1, 2017. It will soon be listed on multiple top cryptocurrency exchanges. On November 29, 2017, the token soared by 142.4%, and its market value increased to $3.5 billion.

In early January 2018, the value of cryptocurrency hit a record high of $1.162, peaking when the market value exceeded $33 billion.

The first half of 2019 is very optimistic. The price initially fell after reaching $0.05 on January 9, and then found support at $0.035 on February 6. Buyers showed increased interest and pushed ADA to $0.10 on April 3. After falling back slightly to $0.057, Cardano tried five times to break the resistance at $0.10. On June 26, 2019, ADA managed to reach $0.11, but sellers stepped in and lowered the price. For the rest of the year, Cardano is bearish. It wasn’t until December that ADA found support at a price of $0.03.

ADA continued to trade at $0.03 in early January. With certain changes, the price reached $0.06 in mid-February. Later, the coins began to fall. Shockingly, due to the collapse of the cryptocurrency market due to the Covid-19 outbreak, the price fell to $0.02 in March. As the price recovered steadily, the price rose to $0.15 at the end of July. Later, the price fell again to $0.07 at the end of September. In addition, as Bitcoin continued to rise at a high level, the price managed to rise and reached a substantial $0.17 at the end of November. After some changes, ADA will trade at $0.17 at the end of 2020.

Cardano is called the Ethereum of Japan and was founded by Charles Hoskinson, the co-founder of Ethereum. According to the report, the Japanese hold 95% of ADA coins. The average forecast indicates that ADA will start to rise sharply from the beginning of 2021. Cardano will achieve its highest value growth throughout the year and may hit a record high. By the end of 2021, the price of ADA may reach $10. Cardano price prediction 2022 ADA will be launched in 2022 at a price of $12. If it focuses on certain developments and attracts more investors, then the price may reach a higher level. By the end of 2022, Cardano’s transaction price may reach around $22.

In 5 years or more, Cardano may achieve greater victory because there are many partners and integration plans in the plan. In the long run, this will have a positive impact on ADA. In 5 years, Cardano can reach $100. 

As the market fluctuates, predicting the price of cryptocurrencies is indeed one of the most difficult tasks. Let us consider well-known publications and personalities, and their statements about the Cardano (ADA) price prediction, which will give us a fairer idea.

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