Cardano Price Prediction – Will ADA Price Hit $10 in 2021?

This Cardano (ADA) Price Prediction 2021 article is based on technical analysis alone. Below, you will see the key metrics that we have taken into consideration upon coming up with our ADA price analysis and prediction.

Cardano is one of the cryptocurrencies that continue to develop its ecosystem. It is considered one of the busiest platforms this year. As a result, ADA is one of the altcoins that investors eye in the crypto space.

Moreover, it seems like Cardano’s “Alonzo” upgrade has a significant impact on investor sentiment. In fact, the upgrade is about smart-contract features and addresses what critics have called one of the network’s most glaring deficiencies. To add on, the price of ADA has surged over the past two months. This is mostly because of the successful Alonzo testnet launch and also the imminent arrival of the Alonzo mainnet hard fork.

Now that we’ve seen the developments of Cardano, will it be a profitable cryptocurrency in 2021? Let’s find out in this CoinQuora Cardano Price Analysis and Price Prediction 2021.

What is Cardano (ADA)?

Cardano is a blockchain-focused network that runs its own mainnet. Moreover, the crypto could perform all the things it thinks necessary for the network without any restrictions. Notably, when it comes to the development of the platform, Cardano is created by the Input-Output Hong Kong firm (IOHK). More so, Charles Hoskinson, BitShares developer, and Ethereum Co-Founder, leads the said company.

In addition, the Cardano network aims on offering a platform for developers where they could create smart contracts and decentralized applications. Recently, Cardano upgraded to Goguen mainnet, which is a blockchain technology that offers token lock network features.

Added to this, ADA is the native cryptocurrency of Cardano. However, it functions as a means to pay for premium services on the platform. Added to this, users in the network could transfer and trade their funds utilizing various crypto exchanges such as Binance, Upbit, and Digifinex to name a few. These coins can be safely kept in Daedalus, Cardano’s own crypto wallet.

Now that we already have an idea about what Cardano is, let’s look into the price analysis of ADA.

Technical Aspects of Cardano (ADA)

Cardano is being developed in five phases in order to achieve its goal of creating a development platform with a multi-asset ledger and verifiable smart contracts for decentralized apps (DApps). The five phases are each named after influential historical figures, and together they are known as eras. Here is a list of the five phases:

Byron (Foundation)

Cardano’s Phase 1 or Byron was released in September 2017 and was the first release for the general public. In addition, the company launched the Daedalus desktop wallet and the ADA cryptocurrency.

Shelley (Decentralization)

In the second stage, everyone could participate in the verification process of Cardano transactions, which made it decentralized. Shelley officially began in June 2020.

Goguen (Smart Contracts)

In the third era of Cardano, smart contracts and decentralized applications will be offered. The Alonzo upgrade launch represents the roadmap of the Cardano Goguen era. Alonzo upgrade was launched in August 2021.

Basho (Scaling)

Basho aims to add sidechains to Cardano in order to scale it even further. As a result, the main blockchain will be split up into a number of smaller chains called shards.

Voltaire (Governance)

The long-term goal of Cardano is to build an autonomous system independent of IOHK, its parent company. In the following weeks, Voltaire will launch a full-fledged governance system that users can use to decide on new features. When the first phase is completed, Cardano will subsequently be able to build a truly decentralized platform.

Cardano (ADA) Current Market Status

ADA remains to be one of the most aggressive cryptocurrencies nowadays. According to CoinMarketCap, the ADA price is trading at $1.98. Notably, ADA was able to record a decreased rate of almost 0.61% in the last 24-hours.

In terms of its market standing, ADA market capitalization amounts to almost $66,097,062,556 with a 24-hour trading volume of over $1,730,783,841. As a result, crypto ranks as one of the top 10 cryptocurrencies in CoinMarketCap. With all these achievements, we can say that ADA has come a long way in developing its technology throughout the years.

Now that you already have an idea about what ADA cryptocurrency is, do you think ADA is a good investment this year? If you are already excited to know, come, and together let us check this ADA price analysis and price prediction article.

Cardano (ADA) Price Analysis 2021

Cardano continues to be one of the trusted digital assets in the crypto world. ADA ranks as one of the top 10 cryptocurrencies in CoinMarketCap.

Do you think this is enough to maintain Cardano’s uptrend position this year? Are you already curious? Therefore, join me and let us check the chart in this Cardano price analysis to find out.

Based on the chart above, Cardano positions itself along with the raging bulls. Today, ADA trades at a high price of $1.99.

In addition, we can see that Cardano recently performed an Ascending Channel pattern. An ascending channel is the price action that occurs in an upward direction through a rising parallel line. More so, the chart shows the Higher Highs and Higher Lows from this price pattern. In addition, this pattern represents a short-term bullish.

In other words, ADA is gearing itself for a possible bullish rally in the days to come. If this happens, the crypto might go beyond its resistance level and reach the bullish price. Of course, this is most likely to happen if the bullish market continues to reside with Cardano.

Conversely, if the bulls turn against the crypto, the price of ADA might fall. In short, Cardano might break out from its uptrend position and nosedive to a bearish price. Indeed, this price level is not a good picture in the eyes of the investors.

The Relative Strength Index (RSI) of Cardano (ADA) is at 54.45, indicating a nearly overbought state. With this in mind, traders, especially scalp and day traders, can trade with confidence without worrying about a major price reversal.

Let us also look down for the Simple Moving Average (SMA) and the Exponential Moving Average (EMA) of ADA.

Cardano is one of the potential cryptocurrencies this year. Since the start of 2021, ADA’s price has seen many bullish moves which are higher than the previous one. More so, these are followed by consolidations, fluctuations, and corrections right away.

Cardano (ADA) Price Prediction 2021

The Cardano network is one of the most active crypto this year in terms of technology development. Cardano announced that users will be able to deploy smart contracts once the Cardano hard fork occurs.

Do you think this is enough to make Cardano a profitable network to invest in 2021? Let’s head to the chart in this Cardano price prediction to check it out.

The crypto is showing strong bullish signals against the bears. In this graph, the crypto trades at a high price of $1.99 with a 1-year growth rate of over +2,000%. If this bullish trend continues, ADA might be able to break its $3.11 resistance level. It could even go further beyond $4.031 before the year ends and likely to reach $7 – $10 in 2021 if the market continues to favor crypto.

However, if the market turns against the crypto, ADA could experience price decline, an event in favor of the bears. This bearish event could trigger a price rollback below $1.9 and could even fall deeper to $0.98. In this case, the crypto must find a way to regain its composure and recover back to its bullish position. Otherwise, the bears might turn the support level to the new resistance level, an event not favorable to investors.

Moreover, Cardano is on its way to completing its third blockchain upgrade. If this becomes successful, the crypto is likely to go beyond $5 before 2021 ends. It could climb further to $10 in 2021 if ADA continues to win the trust of its investors.

Cardano (ADA) Price Prediction 2022

If this bullish trend continues, Cardano will reach $12 by the end of 2022. Moreover, the first half of 2022 is going to show fast growth, up to $15. Then this rise will slow down, but no major falls are expected. With upcoming, partnerships, and developments reaching $12 is quite optimistic in the price point of view but undoubtedly feasible for the near future.

Cardano (ADA) Price Prediction 2023

The price of Cardano can move even great heights, however reaching $18. Moreover, this is possible only if the market maintains its bullish trend. In addition, only if the cryptocurrency Cardano breaks past the psychological resistance level.

Cardano (ADA) Price Prediction 2024

As per the latest upgrades, developments, Cardano price prediction, and new project forecasts of the platform. Moreover, this might boost the price of Cardano in the crypto market, and it will be the best investment as the price can spike and reach around $25.

Cardano (ADA) Price Prediction 2025

In the next four years, Cardano prices could race up to $37. However, reaching this level could not be so difficult for Cardano as additional medium, short-term, and long-term price targets could be found to purchase or sell orders. This indicates that Cardano has a high possibility of reaching a new ATH soon in the next five years as per the prediction.

Conclusion

Cardano has a bright future ahead of it in 2021. With the ongoing developments happening within the Cardano ecosystem, as well as in the overall crypto market, we may see Cardano reach new heights.

Bullish Cardano price prediction 2021 is $5. It may even reach over $10 if investors have decided that Cardano is a good investment in 2021, along with mainstream cryptocurrencies like Bitcoin and Ethereum.

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Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. No information in this article should be interpreted as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies.

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