The ADA coin, which runs smart contracts on the Cardano blockchain, has been going up. The cryptocurrency is ranked ninth in the world by market capitalization, and the price of ADA/USD has been fluctuating around $0.39. This gives it a market size of about $13.5 billion.
ADA is getting a boost from the rise of the cryptocurrency market as a whole. On Tuesday, Ethereum was up about 3% and Bitcoin was up 1.7%. Traders were happy that the latest US inflation numbers, while still high, weren’t as bad as some had feared. With the help of its most recent rise, Cardano has gained more than 13% since its previous weekly lows in the $0.34 range. It is now just above its 200-day moving average for the first time in a while.
Cardano Price Prediction
| DATE | ADA | USD |
|---|---|---|
| Today | 01 | 0.4082429 |
A source says that the more times Cardano meets resistance in the range of $0.4250 to $0.44, the more likely it is that the cryptocurrency will break to the north. Cardano can go quickly to $0.68 if ADA can make a strong daily candlestick close above this area, he said, adding that there isn’t much opposition to stop the move right now. Sources say that over the long term, Cardano is likely to rise back above $1.0, which was once a major long-term level of resistance.
Today’s ADA Price
Never ask if it’s too late to buy something. The answer is always “never.” The right question to ask is whether or not to buy a certain asset. And that depends on how an investor thinks the stock’s price will do in the long run.
If your own research shows that you think the price of ADA will go up a lot in the next few years, it might be a good idea to buy some. If not, keep your distance.