Cardano (ADA) has had one of the best price gains this year, up by 137% from its price point of $0.2464 at the beginning of the year. Various predictions have come in on ADA’s future price trajectory as investors begin to wonder if the altcoin can continue to lead market gains. Changelly’s long-term forecasts indicate that the value of ADA may continue to rise steadily, finally surpassing its all-time high in the years to come and reaching over $7 by the end of the decade.
Cardano Price Predictions From Top Crypto Analysts
Cardano has had 17 green days in the past 30 days. At the time of writing, the altcoin is trading at $0.5845, down 81.19% from its all-time high of $3.09 in September 2021. However, crypto exchange Changelly’s prediction indicates this is poised to change soon, with technical indicators now indicating an 82% bullish market sentiment. According to the prediction, the bullish sentiment could as well push ADA to $0.628404 by the end of the year.
The bullish outlook of the crypto exchange extends well beyond the scope of the current year’s forecast, approaching a slow but steady prediction basis. Changelly predicted that ADA could break the $1 mark again by December 2025, and break above its current all-time high of $3.09 by October 2028.
Assuming the trend of price appreciation continues, ADA might end the decade around the $7 price point. This represents a staggering 1100% increase from its current price. If this happens, this would mean Cardano’s total market cap would grow well over $300 billion. Additionally, Changelly projects ADA reaching an average price of $13.23 by December 2032.
ADA market cap currently at $20.826 billion on the daily chart: TradingView.com
How Feasible Is This Price Point?
$7 may look like a lofty price point for ADA in this decade, but several factors point to this happening, especially if development and adoption continue at the current pace of the last quarter in 2023. CoinMarketCap’s Fear and Greed Index now points to an extreme greed of 80, indicating that the entire market is set for a strong bullish run in 2024.
According to a crypto analyst, Cardano (ADA) is on the verge of a bullish weekly cross for the first time since June 2020. The last time this happened, the crypto went on a 6000% run over the next 66 weeks. A repeat would see Cardano (ADA) reach $35 from its current price.
#ADA is about to get a bullish weekly cross for the first time since JUNE 2020
— Tyler Strejilevich (@TylerSCrypto) December 9, 2023
On the other hand, crypto analyst Ali Martinez warns of a potential short-term pullback before the restart of an uptrend.
Watch out! ⚠️ Sell signals have emerged on both the 3-day and 1-day $ADA charts, suggesting a potential correction of one to four candlesticks.
— Ali (@ali_charts) December 9, 2023
Featured image from Shutterstock
Scott Matherson is a prominent crypto writer at NewsBTC with a knack for capturing the pulse of the market, covering pivotal shifts, technological advancements, and regulatory changes with precision. Having witnessed the evolving landscape of the crypto world firsthand, Scott is able to dissect complex crypto topics and present them in an accessible and engaging manner. Scott's dedication to clarity and accuracy has made him an indispensable asset, helping to demystify the complex world of cryptocurrency for countless readers.
TapTax - Cardano Crypto Taxes Made Simple. Available Now!
Simplify your Crypto Tax experience! From a passive holder, to day trader, to NFT project, we have your taxes covered.BUY NOW!