The interest in cryptos is growing steadily. Among the ones that the public is most interested in is Cardano (ADA). An open-source blockchain project created in 2017, Cardano offers a variety of uses for both businesses and consumers, as well as governments.
Vasil hardfork may promote the adoption of Cardano
At the time of writing, the price of Cardano is $0.504 with a total exchange volume of $671,569,034.00. Cardano has risen 3.02% in the past 24 hours. The current ranking is #7, with a live market cap of $17,036,310,681.00. It has an outstanding supply of 33,820,262,544 ADA coins. Cardano’s highest closing price (ADA) in the current month of September was at $0.510 and thus -83.58% below its record high of 02.09.2021 at $3.09.
After years of development and months of testing and optimization, the Shelley technical update has finally arrived. This update will be operational at the time of a fork, the Vasil Hardfork which will occur on September 22, and if all goes well, it should considerably improve the performance of the network and its features, and thus promote the adoption of Cardano.
This update, which is expected by all, will allow developers to get performance as well as scripting efficiency that will be improved, costs will also be reduced. All this work on the testnet will secure the proper functioning of VASIL’s applications, subsequently on the main network.
Important applications around decentralized finance are launched. CARDANO is always appreciated by cryptocurrency enthusiasts. And its fans are on the lookout for the slightest development
However, the current market trend for Cardano (ADA) is currently bearish. The last Doji Star indicator for a trend change was lit 31.08.2022 and was quoted at a price of $0.450. This indicator could be interpreted for a downward trend change.
The last high of 04.09.2022 at $0.510 was with -9.53% below the resistance of $0.560 and could not be exceeded. Support is currently received by the Cardano (ADA) price at the $0.440 support line and is holding with 16.62% above it.
Cardano (ADA) Simple Moving Average
The currently quoted price of Cardano (ADA) is located at $0.504 above the simple moving average and can be considered a bullish signal. One major buy and one major sell signal have been identified.
The buy signal pattern for Cardano (ADA) was detected on 07/21/2022 at a price of $0.474 could be determined. The sell signal pattern for Cardano (ADA) could be determined on 21.08.2022 at the price of $0.514 could be determined.
Long term predictions for ADA
The ADA forecast for 2022 is not uniform among specialists. Some sites expect its price to rise, while other platforms predict a downward trend.
- According to WalletInvestor, Cardano’s price could easily reach a high of $2.12 in 2022, with a minimum price of $1.65. The crypto would end the year at $1.89 according to the site.
- CoinSwitch predicts that by 2023, the project will gain trust as well as user support, with a rise to $2.
- Adam Web, an author at Smartereum thinks it’s possible that Cardano will jump to over $10 in five years.
- The website TradingBeasts.com predicts a price of $0.086 for December 2022.
- Cryptoground.com expects growth to continue at $0.8792 by the end of 2024.
- CoinFan.com‘s long-term forecast suggests that the crypto-currency could possibly reach $0.452 by May 2025.
- Experts at the website Mrvyasidea.com point out that if the project reaches all of its network layer development goals, the cryptocurrency could reach $5 by 2024.
- Finally, according to CoinPriceForecast.com, the crypto may be expected to end the decade at $0.2949.
Should you buy Cardano? As with any other asset, there is actually no definitive answer to this question. It is therefore very difficult to predict the Cardano price in a few hours and even more difficult to give long-term estimates.
However, Cardano does boast an active community of holders and supporters who believe that its value could increase significantly in the foreseeable future. So there is definitely a case for buying Cardano (ADA).