Cardano Price Prediction for March: Will ADA Price Explode? Would you like to buy ADA now?
While the cryptocurrency world is buzzing with Bitcoin hitting a new all-time high of $69,000, Cardano (ADA) is trying to keep up with the flow, hoping to replicate its previous bull market success. Will ADA prices explode? Let’s take a look at this Cardano price prediction Read the article in more detail.
Cardano price prediction: How has the ADA price moved recently?
As of today, Cardano’s price is $0.711198, boasting a 24-hour trading volume of $1.13 billion. The market capitalization is $24.05 billion and the market dominance is 0.92%. ADA price fell 3.45% in the last 24 hours.
On September 2, 2021, Cardano hit an all-time high of $3.10. Conversely, the lowest price ever hit was $0.017354 on October 1, 2017. After hitting an all-time high, Cardano’s lowest price reached $0.234392 (cycle low) and its highest price hit $0.797962 (cycle high). Currently, the sentiment on Cardano’s price prediction is Neutral, with the Fear and Greed Index sitting at 82 (extreme greed).
On the supply side, there are currently 33.82 billion ADA tokens in circulation out of a maximum supply of 45 billion ADA.
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Cardano Price Prediction: Will ADA Price Rise?
In recent years, Cardano has experienced highs and lows. In particular, blockchain networks have seen a 90% surge in new wallet addresses, indicating increased activity and growing interest in the platform.
Nonetheless, even amidst these positive developments, the blockchain has faced criticism, with several reports suggesting that Cardano’s network activity may have been exaggerated or misrepresented.
Exploring the history of Bitcoin halvings can feel similar to deciphering the movements of celestial bodies when predicting a potential bull market for Cardano. Now let’s take a step back and take a closer look at Cardano’s journey, all the way back to the first Bitcoin halving event.
In November 2012, during Bitcoin’s first halving, Cardano had not yet entered the cryptocurrency market. Skipping the second Bitcoin halving in 2016, Cardano was still in development and its mainnet was only launched in September 2017. So, unfortunately, we don’t have any data to compare at that point.
The third Bitcoin halving of 2020 is approaching. Until then, Cardano was actively operating, with the price hovering around $0.053 in March 2020. What is interesting is that after the Bitcoin halving, the price of Cardano surged to $0.1. However, as of the latest update, Cardano’s trading price has settled down to around $0.5.
So, what’s the takeaway? Looking at this history, it looks like Cardano is tying the bull’s shoes. Despite their differences, Cardano and Bitcoin share an iconic status in the cryptocurrency world. The cryptocurrency market has a rhythmic, propulsive dance that can bring them together on the same stage.
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Cardano Price Prediction: How High Can ADA Price Go?
Over the past year, ADA prices have skyrocketed significantly, with an impressive increase of 132%. This impressive growth has not only established it as one of the best-performing assets in the cryptocurrency market, but also outperformed half of the top 100 cryptocurrencies during this period.
A notable aspect contributing to bullish momentum is its consistent performance above the 200-day simple moving average, indicating sustained upward momentum over the long term. This technical indicator is often used by traders and analysts to gauge the overall trend of an asset, and its sustained positioning above this benchmark indicates strong bullish sentiment.
Moreover, recent market activity reflects a positive trend. The cryptocurrency has recorded 18 green days out of the last 30 days, or 60% of positive trading days. This consistent string of gains highlights the growing investor confidence and interest in the asset.
Another key factor supporting its upward trajectory is its high liquidity, as evidenced by its significant market capitalization. High liquidity ensures that investors can easily buy and sell cryptocurrencies without significantly impacting the price, making it an attractive option for traders and investors alike.
Considering these strong metrics, the cryptocurrency appears poised for continued growth in the near future. Current trends and indicators suggest a favorable outlook for this asset, making it a promising candidate for investors exploring potential opportunities in the cryptocurrency market.
According to the Cardano price prediction for March, the expected range is between a low of $0.69 and a high of $0.80. If the price of Cardano actually reaches the ceiling target, it would represent a notable increase of over 15% from current levels.
Reaching $0.80 by March 31, 2024 would be a significant milestone for Cardano, indicating strong bullish momentum and potentially attracting the attention of more investors.
There is speculation that the price of ADA could potentially surge to the $3 level after the Bitcoin halving. Achieving this upper price target would represent an impressive increase of over 400% from current levels. This rapid rise marks a significant milestone for ADA, reflecting strong bullish sentiment and potentially attracting significant attention from investors and the broader cryptocurrency community.
Is Cardano a good buy?
Cardano fell significantly to its 2024 low of $0.2406 after going through a price consolidation phase. However, given the prevailing bullish trend in the market, this could be an opportune moment to consider investing in ADA. With the price still below double, purchasing ADA coins within the $0.70 price range could potentially result in lucrative profits before the price rises further.
Where to buy Cardano (ADA)?
For those looking to capitalize on Bitcoin’s upward momentum, choosing the right platform is important. Bitget stands out as a reliable option that offers low fees and a powerful, user-friendly platform. As the cryptocurrency market continues to evolve, it is essential to have a trustworthy platform for buying and trading cryptocurrencies, and Bitget provides solutions for both beginners and experienced investors.
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