• Cardano (ADA) is the native token of the Cardano blockchain, a sustainable blockchain that uses Proof-of-Stake (PoS) consensus mechanism.
• Currently, ADA’s price is $0.372960 and its 24-hour trading volume is $1,037,647,949 with a 24-hour price change of 9.0% up.
• In Cardano (ADA) price prediction 2023, analysts predict bullish ADA price of $0.4247 to $0.5697 and bearish ADA price of $0.2503.
What is Cardano (ADA)?
Cardano (ADA) is the native token of the Cardano blockchain which uses the Proof-of-Stake (PoS) consensus mechanism known as Ouroborus. This “third-generation blockchain” was initially designed as a layer-1 solution but then integrated with layer-2 update Hydra in late 2021 in order to scale permissionless nature of DeFi space and help unbanked people access banking services.
Cardano (ADA) Current Market Status
The current market status for Cardano (ADA) shows that its current price is at $0.372960 with a 24 hour trading volume at $1,037,647,949 and an increase in 24 hour prices by 9%. Its circulating supply stands at 35,045,020,830 and its all time high was on September 02 2021 when it hit $3.09 .
Cardano (ADA) Price Prediction 2023
In regards to Cardano’s(ADA’s )price prediction for 2023 , statistics , price patterns , RSI , RVOL and other information about ADA are used to analyze future movements of this cryptocurrency . An ascending triangle pattern has been laid out with the horizontal upper trendline connecting highs while lower trendline connects rising lows . If trend breakout occurs at resistance level , then ADA’s prices can go up to reach resistance levels of 0.3692 & 0.4523 while if trend reverses then it may fall to 0.3302 & 0 .3023 .
Support & Resistance Levels
A chart showing support and resistance levels for ADA can be seen below : From this daily timeframe we can identify that currently resistance levels stand at 0 . 4240 & 0 . 4523 while support levels stand at 0 . 3302 & 0 . 3023 respectively .