After the slight crypto market adjustment, Cardano managed to increase by more than 10%. ADA prices are eyeing the psychological price of $0.40. Is it a good time to Buy Cardano today? Is Cardano a good buy out of the top 10 cryptos by market cap? Let’s analyze in this Cardano price prediction.
What is Cardano Crypto?
Cardano is an open-source, decentralized blockchain platform that was launched in 2015. It is designed to provide a more secure and scalable platform for developing decentralized applications and smart contracts. Cardano uses a proof-of-stake consensus algorithm, which is more energy-efficient than proof-of-work algorithms used by other blockchains.
Cardano aims to provide a platform for the creation and execution of complex smart contracts and decentralized applications. It also aims to address some of the challenges faced by other blockchains, such as scalability, security, and governance.
Why is Cardano UP?
After retracing from the high of $0.405, Cardano’s price retraced lower and reached the previous support of $0.35. Since the latter is a support area, prices should rebound higher. Coupled with positive crypto market returns, Cardano prices managed to increase heavily, making more than 10% in the past 24 hours.
Cardano Price Prediction: Will Cardano price continue higher?
Cardano increased a lot in the past 24 hours, and it is normal to expect a small retracement. If we plot the Fibonacci retracement as in figure 2, we should expect that ADA retraces lower towards $0.375. However, this might be a good time to buy Cardano before it continues higher to reach $0.40.
Of course, this depends on the general trend of the crypto market as a whole. If the market continues higher, Cardano should break the $0.40 price mark higher.
CryptoTicker Podcast
Every Wednesday, you can tune in to the Podcast on Spotify , Apple and YouTube. The episodes are perfectly tailored for a duration of 20-30 minutes to quickly and effectively familiarize you with new topics in a fun setting on the go.
Subscribe & never miss an Episode
Spotify– Amazon – Apple – YouTube
Recommended posts
-
Big News: Ripple Price is about to TRIPLE? This News Confirms… -
Cardano Price Crash BUT Prices should retrace higher? -
Top 3 Altcoins to BUY in February 2023 – Best Crypto Investment!
-
Cardano Price is about to EXPLODE! Where is ADA reaching next? -
Shiba Inu to Reach 1$ soon? This New Upcoming Development Proves it Right - Don’t Miss Buying Cardano at $0.35! Will Cardano reach 1$ now?
-
ADA looking to flip XRP: Is Cardano better than Ripple currently?
- Cardano Price might drop below $0,30 if THIS Happens! Sell ADA?
- Crypto Prediction for BTC, ETH and MATIC for Feb 2023…Not to MISS!
- Invest in Cardano Now and Watch Your Portfolio Soar: The Most Efficient Blockchain of 2023 Awaits!
- Ripple Price Prediction – How High will XRP reach in 2050?
-
Cryptos are Consolidating! Here are 3 Cryptos to Buy in March 2023 - DO NOT Miss Ethereum Price reaching $2,000…is ETH a Good Buy?
-
Can Shiba Inu Price Reach 10 Cents?
- Bitcoin Price Prediction: 25K reached, what’s next? BTC at 30K?
-
BIG NEWS: Ethereum Breaches its Resistance! Will ETH reach 2K now?
-
SPOT ON Bitcoin Price Prediction: THIS Price is coming NEXT! -
Shiba Inu Price Prediction: How High can SHIB Price reach by 2030? -
Bitcoin Price is NOT Looking Okay…This 4-hour Chart is Alarming!
You might also like
More from Altcoin
Shiba Inu vs Dogecoin: Who Will Hit $5 in the next 90 Days? Potential Scenarios Unveiled!
In this Shiba Inu vs Dogecoin article, we will explore some potential scenarios that could lead to both coins hitting …
Top 3 Cryptocurrencies that can 5x in 2023 – Easy Trades
As part of this crypto rebound, several cryptos started to recover from significant support levels. Here are 3 cryptos that …
Breaking Records: Will Bitcoin Price Break Through the $35,000 Mark Soon?
What is the Bitcoin price forecast for the next few weeks? Can Bitcoin price return to $35,000 soon?
