• Cardano (ADA) is the native token of the Cardano blockchain, which uses the Proof-of-Stake (PoS) consensus mechanism.
• According to CoinGecko, ADA’s current price is $0.372960 and its 24-hour trading volume is $1,037,647,949.
• In Cardano (ADA) price prediction 2023, analysts are predicting a bullish trend with prices ranging from $0.4247 to $0.5697 and possibly reaching as high as $1 soon.
What is Cardano (ADA)?
Cardano (ADA) is the native token of the Cardano blockchain. This sustainable blockchain uses the Proof-of-Stake (PoS) consensus mechanism, Ouroborus. This “third-generation blockchain” initially existed as a layer-1 solution and was eventually integrated onto an existing network in late 2021 to scale up the permissionless nature of DeFi space and help with banking for unbanked individuals.
Cardano (ADA) Price Prediction 2023
Cardano (ADA) holds the 7th position on CoinGecko right now and its current market status includes a 24 – Hour Price Change of 9.0% up with a circulating supply of 35,045,020,830 ADA tokens in circulation at all times. Analysts predict that ADA will follow a bullish trend in 2023 with prices ranging from $0.4247 to $0.5697 and potentially reaching as high as $1 soon based on statistics such as price patterns, RSI readings and RVOL indicators that suggest an upward trajectory for ADA’s price movement in 2023.
Current Market Status
The current market status of ADA includes a 24 – Hour Trading Volume of $1,037,647,949 with an All – Time High Price point set at $3 on September 02nd 2021 according to CoinGecko’s data analysis for ADA/USDT pairings across multiple exchanges over time including Binance USDT markets etc..
Support & Resistance Levels
The chart below shows support and resistance levels for Cardano’s pricing movements over time with an ascending triangle pattern formed by connecting highs at one horizontal upper trendline while lows move upwards along another lower trendline – indicating an ongoing bullish trend if it breaks out past resistance level values at either 0 .3692 or 0 .4523 USDT pairs respectively while falling back down to either 0 .3302 or 0 .3023 under bearish reversal scenarios:
Conclusion
Overall , Cardano’s long term investment outlook looks promising based on its current market performance , upcoming updates , supportive regulations , strong developer community backing & projects funded by IOHK & Emurgo arms respectively & overall sentiment towards cryptocurrency investing in general – making it worthwhile addition to any diversified crypto portfolio regardless of risk appetite & investment goals!