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11/26/2024

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Cardano (ADA) Predicted to Breach All-Time High of $3.09

The Cardano blockchain’s native cryptocurrency, ADA, climbed above the $1 mark this month after nearly two and a half years. It dipped below $1 in April 2022 and took 30 months to reclaim its lost territory....

Cardano (ADA) Predicted to Breach All-Time High of $3.09

The Cardano blockchain’s native cryptocurrency, ADA, climbed above the $1 mark this month after nearly two and a half years. It dipped below $1 in April 2022 and took 30 months to reclaim its lost territory. Its price has once again dipped to $0.92 this week, sending fears that a slump might occur.

Cardano’s ADA hit an all-time high of $3.09 in September 2021 and is down 70% from its ATH. It still has a long way to go before breaching its ATH, requiring the support of many more bull runs. However, a leading analytical firm has predicted that Cardano’s native token ADA could breach its ATH before the decade’s end.

In this article, we will highlight a tentative timeline for when Cardano’s ADA could trade above its ATH.

Also Read: XRP Forecasted to Breach All-Time High of $3.40: Here’s When

Cardano: When Will ADA Breach It’s All-Time High of $3.09?

Cardano Weekend Price Prediction: How High Can ADA Surge?
Source: Capital.com

Leading on-chain metrics and price prediction firm CoinCodex has painted a rosy picture for Cardano’s ADA. According to the price prediction, the altcoin could breach its ATH of $3.09 five years from today in 2029. The forecast estimates that ADA could trade at an average price of $3.32 in 2029.

Also Read: Crypto Chaos: PNUT Token Owner Sparks Lawsuit Against the Community

Source: Coincodex

That’s an uptick and return on investment (ROI) of approximately 300% from its current price of $0.92. Therefore, if the prediction is accurate, an investment of $1,000 could turn into $4,000 in the next five years.

“Forecasts for 2029 suggest that ADA will experience significant growth, with expected fluctuation ranging from $2.85 to $3.32. Investors might anticipate a potential ROI of 300%, aligning with a bullish outlook for the year,” read the price prediction.

Also Read: AI Sets PEPE Price For Thanksgiving 2024

Nonetheless, the cryptocurrency market is highly volatile and can cut both ways, causing investors to lose money. It is advised to do thorough research before taking an entry position into Cardano’s ADA and to trade at your own risk.

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Disclaimer: Cardano Feed is a Decentralized News Aggregator that enables journalists, influencers, editors, publishers, websites and community members to share news about the Cardano Ecosystem. User must always do their own research and none of those articles are financial advices. The content is for informational purposes only and does not necessarily reflect our opinion.


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