About Cardano
Cardano is a blockchain platform that offers a secure and scalable environment for decentralized applications (DApps) and smart contracts. Charles Hoskinson, the founder, has employed a layered architecture, separating the ledger and computation layers to enhance scalability and maintainability.
It utilizes a proof-of-stake (PoS) consensus algorithm called Ouroboros, providing a more energy-efficient alternative to traditional proof-of-work systems. ADA is the native cryptocurrency of Cardano, serving various purposes such as transactions, staking, and governance participation.
This environmentally-friendly platform also excels in transaction speed compared to Ethereum, attracting users and developers alike.
Initially hailed as an “ETH killer,” Cardano saw rapid price surges, hitting an all-time high of $3.10 in September 2021. However, it has since experienced a sharp 91% drop from its peak, compared to Ethereum’s 66% drop. Cardano network’s Alonzo hard fork failed to meet expectations in 2021, leading to criticism and FUD. However, its September 2022 Vasil upgrade has made up for it, increasing Cardano’s scalability and reducing network transaction fees.
The SEC recently sued Binance and Coinbase, alleging that they had sold unregistered securities. Within the SEC’s allegations, Cardano was listed as a security.
Market Overview
The crypto market has witnessed a significant price rally. The last month saw a 23.45% rise in the price of ADA. Trading activity has also seen monthly highs. This is proof of the renewed interest in crypto since October.
Cardano current price – $0.4221 (35.02INR)
24hr change – +5.29%
Market Cap – $14.98 billion
Trade volume (24h) – $563 million, +14.34% change in 24hrs
24hr low – 0.398
24hr high – 0.428
The crypto fear and greed index is at 72. This has caused investors to become greedy in the market. There are several reasons, such as the pending approval of spot ETFs, increased interest from institutions, and growing open interest.
Technical analysis
According to the observed pattern, we project a potential move up in Cardano’s price with corrections along the way. The moving average currently is acting as the resistance. If the current levels fail to hold, we could witness the price fall to the 0.40 mark.
ADA is in the overbought region, indicating a correction shortly.
Technical indicators
We use a set of 15 technical indicators to help us decide whether buying or selling a particular asset is a good idea. These indicators range from volume, strength index, moving average convergence, oscillators, and Bollinger bands. They give us a sense of the market sentiment around that asset, which can be useful for trading.
As of December 6, 2023, here’s what our indicators tell us about Cardano
Four suggest it’s a good time to buy; Nine are in a neutral zone, meaning they’re not leaning toward buying or selling. The volume activity shows that Cardano is overbought, which suggests upcoming sell pressure.
CARDANO SCORECARD ANALYSIS
| METRIC NAME | ACTION |
|---|---|
| Overall Rating | Buy |
| Mass Index | Neutral |
| On Balance Volume | Buy |
| Moving Average Convergence Divergence | Buy |
| Accumulative Swing Index | Neutral |
| Stoch Relative Strength Index | Neutral |
| Relative Strength Index | Neutral |
| Guppy Multiple Moving Average | Buy |
| Hull Moving Average | Neutral |
| Ultimate Oscillator | Buy |
| Super Trend | Buy |
| Aroon Up Down | Buy |
| Donchian | Buy |
| Chaikin Oscillator | Neutral |
| Chande Momentum | Buy |
| Awesome Oscillator | Neutral |
| Bollinger Bands | Neutral |
Monte Carlo simulation is a computer-based technique for understanding something that is hard to predict. Running multiple ‘what-if’ scenarios helps you see all the possible outcomes.
For example, looking at investment risks will show you the best and worst-case scenarios based on different variables like interest rates and market conditions. It’s like rolling dice many times to know all the possible sums you can get. This helps in making informed investment decisions.
Our Monte Carlo simulations had shown that Cardano would overcome the resistance of 0.40. Now, the bulls are in control over the market. We expect the price to correct before continuing its upward trend.
It is important to note that Monte Carlo simulations are based on statistical and historical data. They provide a range of possible outcomes and their probabilities, which can help traders and investors make more informed decisions. However, the accuracy of these predictions depends on the quality and relevance of the data used in the model.
Cryptocurrency prices are highly volatile and influenced by several factors. Monte Carlo simulations aren’t foolproof, so always use your judgment and invest according to your risk appetite.
2024 Cardano Price Prediction
Cardano is expected to maintain a steady growth trajectory in 2024, with an anticipated return of 10%. The projected price range for the year remains relatively stable, hovering around $0.41 per ADA. However, there is potential for the price to surge to $0.53, showcasing opportunities for investors, while a low of $0.32 represents a lower boundary of market fluctuations.
2025 Cardano Price Prediction
In 2025, Cardano is poised for more substantial gains with an expected return of 43%. The price range expectation is around $0.53 per ADA, indicating the potential for notable growth. The upper limit reaches $0.74, offering promising highs, and a lower range of $0.42, which might be a more conservative estimate for the year.
2026 Cardano Price Prediction
Cardano’s value is anticipated to surge significantly in 2026, with an impressive expected return of 89%. The price range expectation is approximately $0.70 per ADA, reflecting a bullish sentiment. The upper projection soars to $0.98, indicating the potential for substantial gains, while the lower limit stands at $0.56, suggesting some room for market fluctuations.
2027 Cardano Price Prediction
2027 promises to be a year of substantial growth for Cardano, with an estimated return of 151%. The price range expectation is around $0.93 per ADA, highlighting a bullish outlook. The upper boundary extends to $1.30, signifying potential significant increases, and a lower range of $0.74, underscoring the likelihood of market volatility.
2028 Cardano Price Prediction
Cardano’s value is predicted to experience significant gains in 2028, with an impressive expected return of 230%. The expected price range is approximately $1.22 per ADA, indicating robust growth potential. The upper projection reaches $1.71, while the lower range is around $0.98, indicating the potential for price fluctuations.
2029 Cardano Price Prediction
For 2029, Cardano’s value is projected to surge, with an estimated return of 319%. The expected price range is about $1.55 per ADA, reflecting strong bullish sentiment. The high-end projection reaches $2.17, while the lower end is approximately $1.24, highlighting the potential for significant price swings.
2030 Cardano Price Prediction
In 2030, Cardano is anticipated to experience remarkable growth, with an approximate 457% expected rate of return. The expected price range is around $2.06 per ADA, signaling robust bullish sentiment. The upper range projection is $2.89, and the lower range is approximately $1.65, underlining the potential for substantial price fluctuations. These predictions suggest a positive outlook for Cardano in the coming years, with significant growth potential and the possibility of price volatility.
According to Coinpedia,
| Year | Minimum Price | Average Price | Maximum Price |
| 2025 | $1.81 | $2.11 | $2.42 |
| 2026 | $2.76 | $3.03 | $3.30 |
| 2027 | $4.56 | $4.79 | $5.03 |
| 2028 | $5.29 | $5.51 | $5.73 |
| 2029 | $6.68 | $7.23 | $7.79 |
| 2030 | $9.12 | $9.72 | $10.32 |
As for Cryptonewsz,
| Year | Minimum Price | Maximum Price |
| 2023 | $0.36 | $0.88 |
| 2024 | $0.76 | $1.10 |
| 2025 | $0.99 | $1.43 |
| 2026 | $1.26 | $1.82 |
| 2027 | $1.64 | $2.36 |
| 2028 | $2.07 | $2.99 |
| 2029 | $2.65 | $3.81 |
| 2030 | $3.43 | $4.94 |
- Dan Gambardello, founder of Crypto Capital Venture predicted that Cardano’s price would hit a new all-time high of at least $7.80
There is clear optimism surrounding Cardano. The projected path suggests that ADA could do a 10-fold increase over the next seven years.
Note that this outlook is speculative and derived from historical data and should not be considered financial advice.
These potential returns would outperform traditional market indexes, underscoring the immense global adoption expected for cryptocurrencies. Additionally, there’s a prevailing belief that the total cryptocurrency market capitalization could reach $10 trillion in the coming years, which would likely see more penetration in terms of crypto users.
Is this a good time to buy Cardano?
The market sentiment is bullish. Investors are confident in the market.
Overall, the ADA price forecast is optimistic, but we don’t have any solid proof of this growth.
ADA’s utility and real-world application suggest that the adoption levels should rise with penetration.
We suggest dollar cost averaging. It helps you accumulate the asset consistently without worrying about daily market rates. We recommend that you follow a systematic investment plan to start investing.
Markets Ahead
With Bitcoin and crypto gaining popularity among institutions, it should not be long before people start to identify altcoins for their utility. Experts predict the crypto market cap could surpass $10 trillion as soon as the likelihood of a spot ETF approval grows. Many people think the SEC will listen to the market because cryptocurrency is expected to grow significantly in the next few years. The upcoming halving event will help this growth.
