(Updated 6th April, 2020) Cardano (ADA) first entered into the crypto world in September 2017. Since then, ADA has seen huge price movements—up to its all-time high and back down to around 90% of that where it sits today. Within a period of four months after its launch, the value of ADA gained by 1,520%, and its market cap also rose to $18 billion.
The Cardano blockchain applies a scientific strategy with a methodology driven by research. The open-source technique of ADA passes through a thorough peer assessment process conducted jointly by both scientists and inventors.
Experts’ Opinion On Why Cardano Price Will Rise
This year will be bright for ADA, and we expect the coin to surge upwards to reach the $1 mark. You have to go back to the 2017 bull market to find the last time ADA was trading at that price. With Shelly launched, up next its Goguen, which could be released in 2020. It involves designing IELE, a virtual machine that could end up as the foundation for future blockchain projects.
Mr. Vyas sees the price rising to $5 in the next few years if the platform achieves all its development goals by developing network layers from Bryon phase to Voltaire phase.
However, not everyone is very positive on the price of ADA as an automated forecasting site, which uses technical analysis of the coin’s price history predicts that the value of Cardano will be $0.016 by the end of 2020. The site adds that trend reversal is only expected at the beginning of 2023. While this is possible, we see it highly unlikely unless Cardano fails to achieve its milestones.
In an interview with Finance Magnate, Charles Hoskinson stated that the coin’s position in the market has been earned by popular opinion. He added that people take their bets, they analyze the science, they look at the platform’s team, they look at the developments and progress made, as well as how the firm is going about its business, and they bet that Cardano is a contender. He further stated that in no time, the coin would be pound-for-pound better than the leading currencies.
According to TheOofy.com, the coin’s price might increase following an event in Japan, where three companies will start building on Cardano blockchain system.
The Current Price of Cardano
Cardano is currently trading at $0.05 after a 7% change over the past 24 hours with a market cap of over $1.4 billion. Recently, ADA was moving towards $0.1 after trading at $0.098 but failed to sustain the bullish run.
Cardano (ADA) Price Prediction Updated 1 April 2020
The analyst says that ADA is in an ascending triangle, and if it can get some volume in, a break over 500 sats is in the cards, with much higher potential in the midterm future. However, he notes that many people are frustrated with ADA and its snail pace. To sum up the analysis, the analyst believes the risk-reward is in the rewards favor from this price as after Shelley is finally launched, whoever got in now will stand to benefit.
Alanmasters says Cardano ( ADABTC ) just broke out of a descending channel and is now aiming at MA200 (0.00000508) and higher.
We can see a very strong correction after ADABTC peaked on the 14-Feb., with prices retracing almost by 100%.
Now that we are seeing a break of EMA10, a bullish cross on the MACD and other altcoins starting to wake up, we can expect Cardano to also bless us with some growth.
You can find our targets marked on the chart.
The analyst says that ADA broke the descending channel to the upside but with not enough strong momentum if we see a minor pullback. The potential right buy zone is at 460 sats area and targets up to 510 – 570 sats levels. The analyst is applying a tight stop-loss below 445 sats level.
Cardano (ADA) Price Prediction – A Technical Outlook
The ADA project is very strong, fundamentally with a good team.
There is a breakdown of the accumulation channel in increments of 32%
if the price consolidates above the channel resistance line, then the potential for the first price increase is the width of the previous channel. + 32%
In mid-February, the are big news expected. Perhaps there will be not only a reversal of the local trend but the main one.
This is the second breakdown of the channel in the last couple of months; the previous was false. Therefore, pay attention to the local uptrend so that the situation does not happen again like last time. After the breakdown of the channel resistance, the price could not fix above and thereby form a false breakdown. The price turned around, and, as the analyst described in the previous trading idea, this coin dropped to the bottom of the channel.
From the middle of the channel, the price reached the bottom of the channel with a pin bar (squeeze). This was necessary for the chart and for the upward movement that is happening now. From the bottom of the channel, the price again rose by 32% to the resistance of the channel and pierced it on the buyer’s volume now.
Perhaps we are witnessing the emergence of a new uptrend. If the price consolidates above the previous accumulation channel, we will see a reversal of the main trend.
When we look at the weekly chart up close, we can see the good potential and also the fact that ADABTC is trading at its lows. Bottomed out basically, just moved to pass EMA10, the initial barrier/resistance to break for the bulls to take control.
But if we go further back, we can see up to 2097% potential profits to ATH:
On the next bull run for the altcoins market, we are likely to see new ATH that are many times higher than the last one.
Just as we can hit new lows in a bear market, we can also hit new highs when the bull market enters the bull run phase. This is only a small part of the whole bull market cycle, but it is always a frenzy, and many opportunities open every day. Stay tuned, read up, prepare, buy-up, and wait.
Patience is key is what we always say.
Today we see Cardano ( ADABTC ) bouncing strongly after hitting EMA10 (0.00000506)… This looks like a healthy/strong consolidation.
As the analyst mentioned in his previous analysis, he believes that ADABTC will make a powerful move soon, the type we haven’t seen in many months.
Looking at the chart as it is now, it’s only been four days, but the bullish sentiment continues to grow.
The analyst says we should consider setting up a stop loss a tad higher than the “low” on the “previous” Daily Candle in anticipation for a higher “low” on a pullback. If our stop loss does get triggered, we kept our losses small while also having an opportunity to get in at a lower price to make up for the potential small loss if the stop loss is triggered.
We must respect the white energy in the Daily approaching 50% with a chance of passing up above the 50% level dramatically. The way to avoid missing out on those opportunities is by utilizing a stop loss on a trade that anticipates the potential for this move upward from here.
Don’t fret if our stop loss is triggered. That is part of trading. At least you’re keeping your loss small with a tight stop loss while also allowing yourself the opportunity to get in at a lower price if the stop loss is triggered.
Some may argue to wait for a more definite sign in the price action to correlate with what’s seen in the indicators. Yes, you can do that and still make money doing it that way. The analyst is simply pointing out how one can manage their risk with a stop loss while allowing themselves to avoid potentially missing out on getting in at this price level because it might not drop significantly lower.
He says there are two prices; one where ADA reaches a value of $25.00 (0.0028) and or on a Super Cycle event where Bitcoin reaches a value of $550.000, then ADA could possibly reach a value of $50.00 (0.0058).
Conclusion And Buying Cardano ADA
Cardano has been making progress during the bear market on its technical roadmap and its application to everyday use cases. That’s a good thing and should come to support the coin’s price if and when we see a full market recovery. Enthusiasts with Cardano’s possibilities have likely not faded as the coin’s price has fallen; so community and investor support should return with confidence.
If we see Bticoin recover and head back to levels above $10,000, it should also boost Cardano back to levels where it sees 2-4x price returns, the price has the potential to rise to $.15 and $.3 lavel. The latter seems to be a high side.