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Cardano (ADA) price prediction | Will Cardano hit $10?
In this post, we want to predict the price of Cardano while increasing ADA by 50% from the price floor. The ultimate question will be: Will the ADA hit $10 soon?
The value of the Cardano token, the eighth largest digital currency with a market cap of $13.2 billion, has grown by 45.5% in the past 30 days. However, this growth has slowed recently, with the token currently up just 0.9% over the past 24 hours. This is where the ADA comes in next.
which hopes to use the crypto platform as an alternative approach to supporting the homeless. Through this platform, this humanitarian organization will raise funds in an innovative way. With this development, UNHCR will use blockchain technology for the first time to connect other humanitarian communities to achieve positive goals.
UNHCR stated via a blog post: “The adoption of the Cardano blockchain is primarily a new and innovative way to help raise funds using investments to support people who are forced to leave their homes. A stock pool opportunity that generates rewards. and enabling the larger community to help make a difference and provide life-saving assistance.
Although this may seem like a purely philanthropic effort, the Cardano token may be beneficial. Because people all over the world buy ADA token for equity purposes. This app allows crypto users to donate while still holding ADA in a smart contract for a period of time.
In other news, Djed, a stablecoin expected to go live on the Cardano blockchain next week, will gain support from decentralized exchanges (DEX) in the ecosystem. The DEXs that are going to list the much hyped stablecoins and sovereign tokens of Shen are MinSwap and MueliSwap.
Djed is the brainchild of Global Input Output (IOG).
The price of Cardano is relatively bullish. However, the upward trend stopped after reaching the highest three-month price of $0.39. Its quick coverage is a downtrend line shown in a continuous line on the daily time frame chart.
ADA should break this barrier and the next seller congestion zone at $0.40. In this way, it will increase its upward trend in the short term by $0.6 to $1.0 in the coming weeks. A positive outlook from the Moving Average Divergence (MACD) index is helping to maintain investors’ optimistic outlook on the Cardano price.
ADA price is significantly above two of the three main moving averages applied to the daily chart. That starts with the 50-day EMA on the red line at $0.326 and the 100-day EMA charted on the blue line at $0.34. This arrangement is bullish for the Cardano price. But to confirm a long-term deal, the bull market needs to be overcome again. and hold the ground above the 100-day EMA (in purple) at $0.427.
Cardano price is above strong support provided by investors who bought ADA between $0.3675 and $0.3764. 77,000 addresses that previously bought 4.35 billion ADA tokens in this range are now profiting.
Investors in this group are willing to support ADA price increases. Especially considering the IOMAP model that shines on areas of weak resistance. Therefore, with a slight push, Cardano price can quickly close the gap to the 200-day EMA. and then open the path to $0.60.
The bullish outlook of the IOMAP model is supported by the number of new addresses created in the Cardano network. Cardano has welcomed new address holders amid a price recovery around $0.239. The “Daily Active Addresses” metric shows that 28,100 addresses joined the protocol on January 26th, up from 18,500 addresses on January 24th.
A similar growth pattern was seen in the number of active addresses transacting on the Cardano blockchain. From the same graph, 76 thousand addresses were active on Thursday, which was 50.3 thousand addresses compared to the same period.
It’s worth noting that 736.82K Cardano addresses are in the money or profit based on year-to-date data provided by IntoTheBlock. This is significantly less than the 3.45 million addresses. who currently have no money or are facing unrealized losses.
However, most investors in ADA are unlikely to sell now. Because they will incur a loss if they sell. Alternatively, more than 3.45 million addresses may purchase ADA tokens as the price improves. Thus creating a move to an all-time high of $3.15 – later $10.
The price of Cardano has the potential to reach an all-time high in the next uptrend. However, the crypto market must first confirm a bull market, which some experts believe could happen at the end of 2023. and start working in 2024. Therefore, reaching $10 for Cardano may not be easy. But if he can b
To reach this goal. It regains its record high of $3.15.
However, impossible does not mean never, especially in the cryptocurrency space. With the improvements that IOG has planned for the ecosystem. A breakthrough to $10 is still available for the Cardano price.
Before investing in Cardano, you may want to consider other high-potential cryptocurrency projects alongside ADA.
In digital currency, we have prepared a list of the best altcoins that you can invest in this year. We suggest you read it.
