Cardano Price Prediction As ADA Spikes Up 0.8%

As of this writing, the price of Cardano (ADA) is in a precarious position.

Cardano is trying to strike the balance between the significant gains made in the previous week and the possibility of experiencing a decline below the crucial level of $0.40.

It is worth mentioning that the recent lack of massive fluctuations in price is not only subjected to ADA alone.

A similar trend has been replicated by the top 100 cryptocurrencies across the market.

Cardano (ADA) is the world’s seventh-largest cryptocurrency by market capitalization. Last week the price of ADA has seen a hike in its price by 15%.

At press time on Friday, the currency was exchanging hands at around $0.4080.

Moreover, the currency’s 24-hours trade volume has also risen by 25% and is now estimated at $404 million.

The market trend shows that crypto whales are currently accumulating more and more ADA coins in their digital wallets.

This shows that currently ADA is facing high market buying pressure, which suggests that investors are convinced that ADA will be bullish in the future.

Evaluation of Cardano’s (ADA) Bullish Market

When analyzing the current bull market, the experts have voiced that the current bull market will not be identified as price hikes.

But under the current market situation, bullish currencies are those cryptocurrencies that have kept their prices stable.

As the cryptocurrency market is set to be bullish in March 2023, Feds will be finished with the interest rate.

In the upcoming times when the market will be bullish cryptocurrencies will offer greater price stability and more and more crypto initiatives will hit the market.

For some experts, cryptocurrency has been bullish since the start of 2023, but some experts have disputed these claims.

They argued all the price hikes until now are not of that scale which indicates the strong presence of bulls in the market.

Apart from that, experts also argued that a typical crypto-bullish trend will not occur as long as the current economic and regulatory uncertainties are not vanquished.

As far as Cardano’s (ADA) bulls are concerned, its bulls are desperately clinging to the $0.40 support level as if their survival is dependent on it.

Buyers can remain confident as long as the current support level at $0.40 remains unbroken.

But Cardano bulls need to be careful of sellers as sellers will show strong resistance as ADA is trying to go beyond the $0.40 mark to the $0.41 mark.

But if Cardano (ADA) managed to surpass the $0.41 mark, then it soon is aiming at the $0.6107 mark, which would ignite a gain of 45.72% in the currency’s price.

Moreover, it will also put ADA one step closer to achieving the $1 price target by the end of this year.

Investors Might Fancy Buying ADA at a Slightly Higher Price

As ADA’s bulls have already moved and are poised to peak very soon, investors might fancy their chances with ADA and even buy it at slightly higher prices.

According to experts’ opinions, ADA is bound to experience a shift in momentum by surpassing the neckline resistance.

Cardano price has recently formulated a golden cross pattern. The reason that so many people are backing ADA is that the token is about to touch $1 might be sooner than later.

It is important that earlier this month the price of ADA became bearish as interest rates hike concerns circulated.

But the token has quickly recovered from bearish pressure. So, for the short as well as for the long-term investors, ADA  is the best pick right now.

It was predicted before the start of 2023, that Cardano’s native digital token ADA will finish 2023 with a $1 price mark.

So, now is the right time for investors to add more and more ADA tokens to their digital wallets.

Apart from Cardano, there are multiple other good coins that are currently priced under $1, investors need to explore those coins as well.