HOW ADA Will MASTER ROLE IN BEARISH MARKET Price Prediction

The cryptocurrency markets, led by bitcoin, attempted to break out at the end of May. They have since retreated but remain above the lows reached in the mid-May sell-off. The Cardano cryptocurrency, ADA, has followed that pattern, gaining more than 21% in the last week of May, then shedding around 9% in the first few days of June.

At the time of making this video bitcoin is trading for just a little over $18,000 defying all predictions and opinions from senior investors as well as experts. And the effects can be seen across the crypto market, so is it a good time to buy ADA? And what should be realistic price target for the project, let’s take an in depth look.

Since it’s inception in 2015, it was launched with a $62.2 million ICO by the co founder of Ethereum, Charles Hoskinson, becoming one of the first block chains to use Proof of stake consensus mechanism Much like Ethereum, which is in the process of a series of upgrades, Cardano is implementing a series of hard forks to expand its feature set. In March 2021, the Mary hard fork enabled the network to become a multi-asset platform.

June will see the implementation of the Vasil hard fork, tentatively scheduled for the 29th of the month. It will bring numerous upgrades to network capacity and Cardano’s smart contract programming language Plutus which enables Cardano decentralized application development.
On 29 May, Cardano reached five million native assets, up from three million on 29 January this year.

The ADA/USD price has tended to track the pattern of cryptocurrency market trends, rising in the late 2017 and early 2021 rallies, and shedding value during the broader sell-offs.

The exception was when the ADA price hit its all-time high of $3.10 on 2 September 2021, ahead of the Alonzo hard fork, which introduced smart contracts to the blockchain. Developers deployed over 100 smart contracts following the launch but then, as the chart shows, the ADA token sold off and failed to participate in the November crypto rally that took bitcoin (BTC) and ether (ETH), the two largest coins, to fresh highs.

ADA started 2022 at $1.36 and moved to $1.63 on 18 January. It then slipped to $0.7528 on 24 February as investors sold off assets at the start of the Russia-Ukraine conflict. The price recovered to the $1.24 level in late March, but was unable to maintain the upward trend, falling back to $0.7424 by the end of April. ADA dropped to an intraday low of $0.4065 on 12 May as the crypto markets reacted to the collapse of the Terra UST and LUNA tokens and the US dollar climbed to a 20-year high against a basket of other currencies, known as the Dollar Index.

ADA rebounded to $0.6823 as crypto prices rose, then pulled back to trade between $0.55-0.60 at the start of June. Today in the third week on june the price of ADA is around $0.46.

The short term outlook for ada is very bearsih, according to the data analyzed by coincodex, There were 16 indicators showing bearish signals and 14 bullish signals. The stochastic relative strength index (RSI), average directional index, and Hull moving average (HMA) oscillators showed sell signals, while the volume-weighted moving average showed a buy signal. However people are still hopeful for a new all time high of $5 per token according to a twitter pole conducted by Dr Shweta, the owner and operator of two KiBloc Cardano stake pools.
Wallet Investor’s ADA crypto price prediction saw the token trading down to $0.43 by the end of 2022 and sliding to $0.333 by the end of 2023. The ADA price prediction generated by the website’s algorithm estimated that the ADA price could fall to $0.143 by the end of 2025 and $0.0277 in five years’ time.

The long-term Cardano coin price prediction from DigitalCoin projected that ADA could average $0.83 in 2022 and $0.94 in 2023, based on historical data. The price could then rise to $1.23 in 2025 and $2.95 in 2030, the ADA prediction showed.

When looking for the price of ADA or any crypto asset keep in mind the volatility of the market and never invest more then 5% of your income. Always do research or analyze the project you want to invest in and consult a professional if needed.