MarketPredictionPrice Analysis

Cardano Price Prediction 2021- Will ADA Price hit $10 in 2021?

  • Bullish Cardano price prediction 2021 is $10.
  • Bearish Cardano’s price prediction 2021 is $1.1.

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.

In the past months, ADA has expressed its plans to collaborate with Litecoin. This partnership aims to bridge the gap between cross-chain communications. Hence, Cardano can easily receive payments from Litecoin and other altcoins in the crypto space instantly.

Now that we’ve seen the developments of Cardano, will it be a profitable cryptocurrency in 2021? Let’s find out in this CoinQuora Cardano Price Analysis and Price Prediction 2021.

Overview

Cryptocurrency Cardano
Token ADA
ADA Price $ 1.6108
Market cap $ 51,410,055,634
Circulating Supply 31,948,309,441 ADA
Trading Volume  $ 12,824,221,865.0000
All-time high $ 2.46
All-time low $0.01735

Cardano Price Analysis 2021

Cardano continues to be one of the trusted digital assets in the crypto world. In terms of market position, the market capitalization of the crypto amounts to almost $14 billion. As a result, Cardano ranks as one of the top 10 cryptocurrencies in CoinGecko.

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 price analysis 2021
ADA Ascending Scallop (Source: TradingView)

Based on the chart above, Cardano positions itself along with the raging bulls. Also, the graph displays the crypto’s over +50% surge from January 28 to February 21, 2021. Today, ADA trades at a high price of $.44 with a 7 days increased rate of +39.1%.

In addition, we can see that Cardano recently performed an ascending scallop pattern. 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 $.46 resistance level and reach the bullish price of $.70. 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 of $.37 to $.33. Indeed, this price level is not a good picture in the eyes of the investors.

In terms of trading, Cardano positioned itself above the ALMA indicator, a bullish signal. With this in mind, traders, especially scalp and day traders, can trade with confidence without worrying about a major price reversal.

Cardano Price Prediction 2021

The Cardano network is one of the most active crypto this year in terms of technology development. Recently, Cardano released a statement regarding the progress of its Goguen mainnet upgrade. This mainnet upgrade unlocks more features in the network that users can enjoy and experience.

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 uptrend position (Source: TradingView)
ADA uptrend position (Source: TradingView)

The graph above shows how ADA successfully defended its bullish position against the market volatility threats in the past months. It also displays how the crypto manages to recover from its bearish downfall of $0.11 last November 26 to $0.17 after 48 hours. As a result, the trade volume of the crypto boost to over $1.6 billion with a growth rate of +620.72% in the last 6 months.

ADA Fibonacci retracement (Source: TradingView)
ADA Fibonacci retracement (Source: TradingView)

On the other hand, the crypto is showing strong bullish signals against the bulls. In this graph, the crypto trades at a high price of $0.17 with a 24-hour growth rate of over + 13%. If this bullish trend continues, ADA might be able to break its $0.18 resistance level. It could even go further beyond $0.18 before the year ends and likely to reach $2 – $5 in 2021 if the market continues to favor the 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 $0.16 and could even fall deeper near the Fibonacci level of 0.382. 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 $0.18 before 2020 ends. It could climb further to $5 in 2021 if ADA continues to win the trust of its investors.

FAQ

Will ADA reach $10?

In terms of market position, Cardano has had a growth rate of over +665.2% in the past year. If this trend continues, there is a big chance that Cardano can reach the bullish price of $10.

Is Cardano a good investment?

Cardano proved to be one of the active and busiest digital assets in the crypto world in the past year. With this in mind, it is wise to say that ADA is a good choice of investment.

Is Cardano better than Ethereum?

In terms of technology and functions, ADA and ETH both have unique quality features. Therefore, it is too early to tell which one is better than the other.

Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. No information in this article should be interpreted as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies.

Recommended Articles

Jay Manila

A dedicated market analyst focused on the highs and lows of the cryptocurrency market. With a background in Business Administration, he tries to unfold his financial perspective to global readers.

Related Articles

Back to top button