Cardano (ADA) Price Prediction 2023: Will ADA Hit $1 Soon?

• Cardano (ADA) is a native token of the Cardano blockchain.
• The current market status of ADA suggests that it may reach a resistance level of $0.424 and support level of $0.303 in 2023.
• The article predicts that ADA might reach up to $1 soon due to its bullish trend.

What is Cardano (ADA)?

Cardano (ADA) is the native token of the Cardano blockchain, which is a sustainable blockchain that uses Proof-of-Stake consensus mechanism called Ouroborus. This “third-generation blockchain” initially existed as a layer-1 solution and eventually Hydra was integrated onto it in late 2021 for layer 2 update, aiming to scale the permissionless nature of DeFi space and provide banking solutions for unbanked people.

Cardano (ADA) Current Market Status

As on March 22, 2023, the current market status of ADA shows its price at $0.372960 with 24 – hour trading volume at $1, 037,647,949 and 24 – hour price change at 9% up with circulating supply at 35,045,020,830 tokens and all – time high recorded on September 02, 2021at $3.09 per token.

Cardano (ADA) Price Prediction 2023

In Cardano (ADA) price prediction 2023 , statistics ,price patterns ,RSI , RVOL are used to analyze the future movement of the cryptocurrency . According to this analysis an ascending triangle pattern has been laid out with Resistance Levels at $0.3692 and $ 0 .4523 while Support levels being located at $ 0 .3302 &$ 0 .3023 respectively .

Conclusion

Overall , Cardano’s(ADA ) bullish trend may help it reach higher levels in near future along with reaching its predicted resistance level at $0 .424 & support level being marked as low as $ 0 .303 by 2023 . The article also predicts that ADA might reach up to 1$ soon due to its bullish trend making it a profitable investment option for investors looking forward into investing in cryptocurrencies other than Bitcoin or Ethereum

References CoinGecko website & TradingView