Cardano, a project with immense potential beyond mere trading, has captivated the crypto community with its robust technical foundation and visionary team. Rooted in peer-reviewed academic research, Cardano has steadily built a loyal and passionate community, propelling ADA to the top cryptocurrencies globally.
As we delve deeper into Cardano’s intricacies, we uncover the factors that have driven its rise and explore what the future holds for ADA. Could this be the next big leap in the crypto world? Our detailed ADA price forecast reveals the possibilities ahead, shedding light on the potential growth and market trends surrounding this project.
Table of contents
Cardano (ADA) Real-Time Market Status
 Name | Cardano |
 Symbol | ADA |
 Rank | #11 |
 Price | $0.36535384980584 |
 Price Change (1h) | -0.28 % |
| Price Change (24h) | 1.46 % |
| Price Change (7d) | 8.88 % |
 Market Cap | $13135238888.983 |
 Circulating Supply | 35952102040.156 ADA |
 Total Supply | 37143587993.987 ADA |
Cardano (ADA) is currently trading at $0.36535384980584 and sits at number #11 on CoinMarketCap in terms of market capitalization. There are 35952102040.156 ADA coins currently in circulation, bringing the total market cap to $13135238888.983.
Over the past 24 hours, Cardano has increased by 1.46%. Looking at the last week, the coin is up by 8.88%.
What is Cardano (ADA)?
Cardano (ADA) emerges as a blockchain contender with a vision for enhanced security, scalability, and sustainability. Launched in 2017 after its inception in 2014, Cardano offers a platform for smart contracts and decentralized applications, aiming to outpace competitors in efficiency and security.
However, the road to adoption hasn’t been easy. The rise of Ethereum’s Layer 2 solutions has diminished some of Cardano’s once-distinct advantages. Despite these challenges, the Cardano ecosystem is far from stagnant.
With 135 live projects and over 1,200 in development, the network is bustling with activity. But it’s not all success stories—some projects have struggled, facing regulatory hurdles and rapid advancements in the blockchain world.
Delving deeper, Cardano’s focus on education, the development of stablecoins, and multi-chain solutions signal its intent to remain a key player in the blockchain space. But the question remains: Can Cardano overcome these obstacles and fulfill its potential? The future of ADA’s price hangs in the balance, driven by the promise of innovation and the weight of competition.
Cardano (ADA) Current Market Overview
Over the past week, Cardano’s ADA token has taken investors on a wild ride, with its price fluctuating tightly between a high of $0.3455 and a low of $0.321. Despite this volatility, ADA bulls have asserted control, driving the token’s price upward with a 1.29% increase from an opening price of $0.3319. This positive momentum has further been reflected on the daily chart.
ADA traded at $0.3433 as of press time, marking a 3.15% gain in just 24 hours. This surge has also boosted its market cap to $12.34 billion, solidifying its position as the 11th largest cryptocurrency by market ranking.
The trading volume has followed suit, spiking by 33.25% to reach $219.58 million, signaling growing investor interest and heightened activity around the token. However, despite these encouraging signs, Cardano has not yet shaken off the bearish sentiment entirely.
The monthly chart reveals that ADA has struggled, dipping to a low of $0.2799 before finding stability above the $0.33 support level. For ADA to fully overcome this negative outlook, market analysts suggest it must break through the monthly opening price of $0.4316—a level that could determine the token’s near-term future.
ADA’s Long-Term Projections
Despite signs of a broader market recovery, Cardano’s price movement has remained sluggish, stuck within a narrow range. The bulls have struggled to generate sufficient buying pressure, leaving the altcoin stagnant.
This lackluster performance is mirrored in its profitability metrics. According to data from IntoTheBlock, only 20.57% of Cardano holders are currently in profit. This suggests a scarcity of strong holders, potentially stifling any upward momentum.
The data further shows that 76.12% of addresses hold ADA at a loss. If prices rise, this large pool of underwater positions could trigger a sell-off, as investors may rush to exit at breakeven.
Adding to the cautious outlook, Cardano’s liquidation data points to potential volatility, even in this seemingly dull market. Numerous liquidation levels are clustered around the $0.35 mark.
Should this level be decisively breached, it could spark a cascade of liquidations, propelling prices higher. However, sellers eager to recover their losses may obstruct the path to such a rally, particularly given the low percentage of profitable addresses.
Cardano (ADA) Price Analysis
ADA’s price has caught the attention of traders across the market. Despite recent fluctuations, the token’s future growth and development prospects remain compelling. In this segment, Coin Edition delves into the future of this intriguing asset, keeping traders and investors on the edge of their seats.
Cardano (ADA) Price Analysis – Bollinger Bands
ADA’s Bollinger Bands are decreasing in size, indicating a period of consolidation and decreased volatility in the price movement. This could potentially signal a breakout or a trend reversal in the near future. Presently trading around the middle band at $0.345, ADA may experience a period of sideways movement before a significant price shift.
Should a reversal occur, ADA is anticipated to reach the lower band at the $0.307 for potential support before attempting another bull run. Conversely, the token might challenge the Bollinger Band’s upper arm around the $0.376 mark should the bullish momentum persist in the near future.
Cardano (ADA) Price Analysis – Relative Strength Index
Cardano’s (ADA) price against the US Dollar (USD) experienced a notable rise in late 2023, only to be followed by a sharp decline that persisted into 2024, marking a strong bearish trend. However, recent data hints at a potential shift, with the RSI beginning to tilt upward.
