Cardano ADA Price Prediction for March 14

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Cardano is an open-source cryptocurrency and one of the fastest growing projects in the entire digital asset space. The team's main goal is to create an efficient, secure, and scalable decentralized network through research.

The price of digital assets such as ADA often shows an upward or downward trend. Cryptocurrency investors and traders can observe the price trend of cryptocurrencies to speculate on their future price direction.

However, due to the high volatility of coins including ADA, exercising caution remains a key factor in any cryptocurrency investment.

Cardano (ADA) price trends past and present

ADA has shown multiple price fluctuations over the past few years and recently. The coin came out in 2017, two years after Ethereum. Before the ADA token was released, its pre-sale price was $0.0024, which, considering the current price, represents a return of more than 1,700%.

In October 2017, ADA was already trading at $0.03. It maintained a steady price growth until December, when the price reached $0.77. However, it failed to maintain consistency in price increases and subsequently fell to $0.5 in January 2018.

2018 was not a positive year for the ADA coin. The coin price dropped to a low of $0.04 in December 2018 and remained in this price range for the first two months of 2019. Throughout 2019, the price of ADA remained between $0.1069 and $0.03.

ADA was worth $0.03283 at the beginning of 2020, but did not see significant price movement until May 12, when it reached a high of $0.05093 on that day. ADA continued its slow and steady price increase until it reached its highest price of the year at $0.1962 on December 29, 2020.

ADA started 2021 at a price of $0.1814. Throughout the year, its price rose significantly most of the time, even reaching an all-time high of $3.0992 on September 2, 2021.

However, in 2022, ADA saw its earnings drastically reduced due to the market crash. As of March 14, 2023, ADA is trading at $0.3601, down 91.83% from its all-time high. Despite this, its price increase in 24 hours was 4.33%, and its trading volume reached $594.8 million.

Cardano (ADA) Price Prediction by Technical Indicators

Source: Tradingview

According to the chart, ADA has recently formed a bear candle pattern, and the relative strength index (RSI) is currently at 38.23, indicating selling pressure close to the oversold zone. However, the MACD (moving average convergence/divergence) indicator is still slightly above the signal line. Although this may indicate an upcoming bull run, the MACD indicator is trending downwards, which may trigger a bear market.

Moreover, the price of ADA is trading below the 50-day and 200-day Simple Moving Averages (SMA), showing the possibility of bearish sentiment in the coming days.

According to the histogram bar chart, some green bars suggest a weak bullish trend. The chart also shows that a golden cross occurred on March 3, which may bring bullish pressure.

The major support levels include $0.3572, $0.3052, and $0.2532 while the resistance levels include $0.3232, $0.3535, and $0.4047. Recently, the price of ADA turned down from the second resistance level and it may move towards the second support level.

Experts predict Cardano (ADA) price in the long and short term

In the cryptocurrency space, experts sometimes predict the possible price movements of digital assets in the long or short term. These predictions are a good reference for cryptocurrency investors who want to enter the system.

Cardano (ADA) Price Prediction by Coincodex

According to Coincodex’s short-term and long-term price predictions, ADA will maintain a bullish trend in the coming years based on its technology sector growth forecasts. ADA is expected to trade between $0.8381 and $2.52 in 2024 and grow by 517.37% in 2025.

Cardano (ADA) Price Prediction by Crypto Predictions

According to the analysis of Crypto Predictions, ADA will maintain a downward trend for the rest of 2023, with the highest and lowest prices being $0.6733 and $0.4 respectively. The long-term forecast shows that the price of ADA may reach a maximum price of $0.9696 and a minimum price of $5635 in December 2026.

ICOcreed Price Prediction for Cardano (ADA)

ICOcreed predicts that the price of ADA in 2027 may reach a peak of $2.15 in December. ADA will maintain a minimum and average price of $1.22 to $1.54. Moreover, the coin may remain between $1.82 and $6.42 between 2028 and 2030.

Factors Affecting Cardano (ADA) Price

Here are some important factors that could drive or suppress the price of ADA over time:

Macroeconomic Conditions: Each digital asset is affected by the macroeconomic conditions of the market, including unemployment, interest rate growth, and inflation.

Regulatory actions by governments: Regulatory policies and actions by governments can have a significant impact on the price of digital assets like ADA. If a government imposes strict regulations or bans cryptocurrencies outright, prices could plummet. On the other hand, if a government takes a supportive stance, this could increase the value of digital assets.

Cryptocurrency investor sentiment: The perception of market investors and traders may also affect the price of ADA. Positive news, such as mainstream institutional adoption of cryptocurrencies or regulatory clarity, can lead to bullish sentiment, driving prices up. Conversely, negative news, such as hacks, scams, or regulatory uncertainty, can lead to bearish sentiment, triggering a price drop.