• Cardano (ADA) is a third-generation blockchain using the Proof-of-Stake (PoS) consensus mechanism.
• The current ADA price is $0.372960 and there is a bullish triangle pattern with resistance levels of $0.3692 and $0.4523, and support levels of $0.3302 and $0.3023 in the market.
• Cardano (ADA) Price Prediction 2023 suggests that ADA may reach up to $0.4247 to 0.5697 and might even reach to $1 soon according to statistics, price patterns, RSI, RVOL, and other information about ADA.
What is Cardano (ADA)?
Cardano (ADA) is the native token of the Cardano blockchain which uses the Proof-of-Stake (PoS) consensus mechanism called Ouroborus as a layer 1 solution which was later updated with layer 2 solution Hydra in late 2021 aiming to scale permissionless nature of DeFi space and help banking unbanked people.
Cardano (ADA) Current Market Status
The current ADA price is at $0.372960 with 24 hour trading volume at $1, 037,647,949 and 24 hour price change of 9% up circulating supply of 35,045,020,830 with an all time high of$3.09 on September 02 2021 according to CoinGecko data.
Cardano (ADA) Price Prediction 2023
Cardano holds 7th position on Coingecko currently with an ascending triangle pattern forming in its chart layout connecting horizontal upper trendline connecting highs and lower trendline connecting rising lows indicating a bullish trend if it breaks out at resistance level making way for prices reaching upto $0.3692 or even higher to 0$.4523 but could reverse cause prices to fall till 0$.3302 or 0$.3023 as per daily time frame analysis done by TradingViewdata..
Support & Resistance Levels
The daily time frame shows us clear support and resistance levels for Cardano(ADA). These are set as resistance level 1: 0$.42 ,resistance level 2: 0$.4523 ,support level 1: 0$.3302 ,support level 2 : 0$.3062 respectively according to TradingView data .
In conclusion we can say thatr regarding ADA’s future performance ,with its trendy ascending triangles coupled with favourable support and resistances levels put forward by Trading View data ,it has potentials of reaching upto highs like that of previous all time high i e upto 3$ sometime in 2023 while also providing chances of lows dipping down like that near December 2020 i e going below -$1 too .