Cardano (ADA): $1 Price Prediction in 2023? Bullish Outlook!

• Cardano (ADA) is the native token of the Cardano blockchain and uses Proof-of-Stake consensus mechanism Ouroborus.
• The Current Market Status of ADA is $0.372960 with 24-hour Trading Volume of $1,037,647,949.
• Bullish ADA price prediction for 2023 is $0.4247 to $0.5697 and bearish ADA price prediction for 2023 is $0.2503.

Overview of Cardano (ADA)

Cardano (ADA) is the native token of the Cardano blockchain and uses Proof-of-Stake consensus mechanism Ouroborus. This „third generation“ blockchain initially existed as a layer 1 solution but was later integrated with a layer 2 update called Hydra in late 2021. Cardano has been built as an upgraded version of Ethereum’s smart contracts network and aims to scale the permissionless nature of DeFi space and aid in banking the unbanked population around the world.

Current Market Status

The current market status of ADA is at $0.372960 with a 24 hour trading volume at $1,037,647,949 and a 24 hour price change at 9% up from its initial position. The all time high for ADA was on September 02, 2021 when it reached up to 3$.

Cardano (ADA) Price Prediction 2023

Cardana (ADA) currently holds 7th position on CoinGecko right now with an ascending triangle pattern which indicates that if it breaks through its resistance levels it will continue moving up along this pattern reaching prices between 0.3692$ to 0.4523$. However, if there are any reversals then it will fall back to 0.3302$ or 0.3023$. The support and resistance levels are also listed above which ranges from 0.4224$ – 03920$ respectively

Bullish/Bearish Price Prediction

According to our analysis in cardano(ADA)price prediction for 2023 ,the bullish prediction for ADA stands at 0 .4247 – 0 .5697 while bearish predictions stands at 0 .2503 .

Conclusion

It can be concluded that if Cardanao continues its trend following the ascending triangle pattern then it could reach heights beyond what we have predicted here however if there are any reversals then we must be prepared for falls below what we have calculated here as well