ADA was developed as the Cardano blockchain’s native token. Cardano’s blockchain utilizes a proof-of-stake technique, which consumes less energy than proof-of-work.
To ensure the long-term viability of all blockchain processes, it ensures that all proposed modifications are contested via peer-to-peer review. Its recent hard fork to Alonzo enabled users to design and deploy decentralized applications (Dapps) on its blockchain, which is more than 50–100 times more efficient than other blockchains following the Shelley update.
What is the Cardano (ADA)?
Cardano is an open-source blockchain project founded in 2017 and named after Gerolamo Cardano, a 16th-century Italian polymath. Its native token was named after Ada Lovelace, who was widely believed to be the world’s first computer programmer. It was founded by Charles Hoskinson, who was previously a co-founder of the Ethereum blockchain.
The Cardano blockchain’s purpose is to enable the creation of decentralized applications and smart contracts by persons with minimum programming experience.
Cardano blockchain technology protects credentials, identifies counterfeit items, and converts agricultural products from their raw condition to finished products.
Now, let’s look at the ADA price forecast for the next few years.
Cardano Price Analysis (ADA)
Flashback: ADA’s Fundamental Analysis
According to data given by Messari on-chain, the number of public wallets on the Cardano network is approaching 3.5 million. According to this figure, the majority of ADA holders are doing so because they believe in the project’s future, with just roughly 136,800 wallets active. This announcement could result in increased buying activity, as investors choose projects with long-term possibilities.
Additionally, the recent announcement that as of March 11th, 2021, about 517 projects had been developed on the Cardano blockchain since its September 2021 upgrade to Alonzo hard fork came as welcome news to ADA holders. This is because cryptocurrencies operate in a variety of domains, including decentralized finance (DEFI), non-fungible tokens (NFTs), and others. This will result in increased usage of the ADA token, as Cardano developers are already working on the Goguen upgrade.
Now, let’s examine charts to see what some indications are suggesting about Cardano’s future (ADA).
ADA/1-day USDT’s chart indicates that it has a relative strength index (RSI) of 39.11. This indicates that the current trend is modest or neutral, given its range of 30 to 50. However, because it is creating a double bottom, the buyers may prevail, resulting in a powerful bullish run that pushes this RSI above 50.
ADA/USDT 1-day chart with the 200-MA and 100-MA. However, because the 200-day moving average is greater than the 100-day moving average, we may assume that the future price of ADA will be positive.
ADA/USDT 1-day chart utilizing the Keltner Channel indicator. However, ADA’s candlesticks are currently within the first half of the channel from the bottom, indicating that the stock may have a bullish future for a few days.
The section below details Cardano’s (ADA) price forecast for the next five years.
Price Predictions for Cardano (ADA) in 2022
In the first quarter of 2022, the price of ADA is expected to be between $0.75 and $1. It might reach $1.3 by the end of the second quarter. However, it may fall to $1.2 in the third quarter before rebounding to close to $1.8 by the end of 2022.
Price Predictions for Cardano (ADA) in 2023
In the first quarter of 2023, the price of ADA is expected to be between $1.55 and $2. It might reach $2.2 by the end of the second quarter. However, it may grow to $3 in the third quarter before settling at $3.5 by the end of 2023.
Price Predictions for Cardano (ADA) in 2024
In the first quarter of 2024, the price of ADA is expected to be between $2.5 and $4.5. By the second quarter’s end, it might reach $4.9. However, it may grow to $5 in the third quarter before settling at $5.5 at the end of 2024.
Price Predictions for Cardano (ADA) in 2025
ADA will cost between $5 and $6.5 in the first quarter of 2025. It may reach $7 by the end of the second quarter. However, it may grow to $7.5 in the third quarter before settling at $9 by the end of 2025.
Price Prediction for Cardano (ADA) in 2026
In the first quarter of 2026, the price of ADA will be between $6.5 and $12. It may reach $15 by the end of the second quarter. However, it may grow to $16.5 in the third quarter before settling at $20 by the end of 2026.
ADA Price Prediction: Market Sentiment
The section below details how well-known media outlets forecast ADA prices:
Price Predictions forecasts that ADA will cost $1.12 by the end of 2022 and $22.7 in 2020.
ADA’s price is expected to reach $1.01 by 2022 and $3.3 by the end of 2029, according to DigitalCoins.
Investors with a Wallet
Wallet Investors forecasts that the price of ADA will reach $2.28 in February 2023 and $7.45 in February 2027.
Our ADA Price Forecast
Cardano’s (ADA) price may reach $20 by the end of 2026 due to the increase in the number of idle public wallets and the current potentials of its blockchain.
We can deduct from the fundamental analysis and market mood around ADA that all analyses believe ADA will be bullish in the future, which will benefit long-term investors.
Disclaimer: These are the writer’s opinions and should not be considered investment advice. Readers should do their own research.