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

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  • Bullish ADA price prediction ranges from $3.13 to $4.27.
  • The ADA price might also reach $10 soon.
  • Only one more day for Cardano’s Alonzo mainnet launch.
  • ADA bearish market price prediction for 2021 is $1.87.

This Cardano 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 technology. 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. Only one day away from Cardano’s Alonzo mainnet launch. Charles Hoskinson who is the CEO of Cardano mentioned in a tweet that ‘Tomorrow is the big day! We are entering a new Era of Cardano.’ 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.

What is Cardano (ADA)?

Cardano is a blockchain-focus network that contains 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, Digifinex and Upbit 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, now let’s look into the price analysis of ADA.

ADA Current Market Status

ADA remains to be one of the most aggressive cryptocurrencies nowadays. According to CoinMarketCap, the ADA price is trading at $2.28. Notably, ADA was able to record an increased rate of almost 15% in the last 5-days.

In terms of its market standing, ADA market capitalization amounts to almost $73,081,669,268 with a 24-hour trading volume of over $2,937,509,612. As a result, the crypto ranks as one of the top 5 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 5 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.

ADA USDT Showing Ascending Channel Pattern
ADA/USDT Showing Ascending Channel Pattern (Source: TradingView)

Based on the chart above, Cardano positions itself along with the raging bulls. Today, ADA trades at a high price of $2.67.

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.

ADA USDT Relative Strength Index
ADA/USDT Relative Strength Index (Source: TradingView)

The Relative Strength Index (RSI) of Cardano (ADA) is at 56.52, 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.

ADA 30-day SMA and 50-day EMA (Source: TradingView)

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.

ADA/USDT Price Chart (Source: TradingView)

The crypto is showing strong bullish signals against the bears. In this graph, the crypto trades at a high price of $2.67 with a 5-days growth rate of over +35%. If this bullish trend continues, ADA might be able to break its $3.13 resistance level. It could even go further beyond $4.27 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 roll back below $2.46 and could even fall deeper to $2.026. 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.

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.

Source: coinquora.com

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