Cardano (ADA) Price Prediction and Analysis in April 2020
Cardano is a next-gen blockchain platform that was intended to facilitate financial apps for both institutions and individuals. The ADA cryptocurrency is the coin that powers the Cardano ecosystem, which is used as a means to transfer funds.
The Cardano blockchain has a multi-layered architecture which is unique in the crypto world, as it allows that platform to support future implementation and upgrades without complications.
The ADA coin has a current rank of 14, with a market cap of $836,108,827, and a 24-hour volume of $104,635,493. It is priced at $0.032248, and there are currently 25.927.070.538 ADA in circulation out of a total supply of 31.112.483.745 ADA.
Cardano Price Prediction: Analysis
The crypto market has experienced massive price fluctuations this March, with almost all the market going under the 52-week low. While some coins managed to recover, they have still not got back to their pre-crash levels.
Cardano also lost a lot of gains, and then recovered slightly. On March 1st, Cardano coin was trading at $0.0479, and throughout the day, suffered a loss of 4.24%, which brought the coin to $0.0459. The next days saw some positive movements in the ADA price, with the coin trading on March 6th at $0.0517.
The price then swiftly corrected to $0.0395, with a 23.70% drop during the course of 2 days. The coin then tried to climb back, reaching $0.0425 on March 10. But then came the massive crash in Cardano’s price, as within the next 2 days the coin reached $0.0197. ADA quickly recovered to $0.0289 on March 13 and traded around that same value until March 15.
The coin once again fell to $0.0218 by 24.64%, and in the following 3 days, the price went up to $0.0382. The price corrected itself on March 20 and reached $0.0278. The price continued trading around the $0.0300 tightly.
On March 29, Cardano went up to $0.0306 and closed the month at $0.030553. Today, April 3rd, Cardano is trading at $0.032270, with an increase of 3.09% in the last 24-hours.
The bullish movement Cardano had for consecutive days helped the coin in surpassing the crucial level of $0.030. A drop under $0.028 will be detrimental to ADA, as it will trigger a further downward trend to $0.025 level. However, the bullish momentum managed to drive the price past the crucial mark of $0.30.
The technical oscillators indicated that ADA intends to remain stable over the price point of $0.030.
The calculated resistance, pivot, and support levels of WalletInvestor are:
- Resistance Level (R3): 0.0318
- Resistance Level (R2): 0.0312
- Resistance Level (R1): 0.03087
- Pivot Point: 0.03028
- Support Level (S1): 0.0299
- Support Level (S2): 0.0293
- Support Level (S3): 0.0290
The founder of the project revealed in late March that the project will launch a series of important updates in the upcoming few months. The Cardano (ADA) team has already rolled out the Byron Reboot and Daedalus Flight.
Charles Hoskinson tweeted on April 1, 2020:
Byron Reboot is out https://t.co/Ah0C2fdEcD spread those wings and take flight!
— Charles Hoskinson (@IOHK_Charles) April 1, 2020
The Byron Reboot consists of a set of features that will make the upcoming transition into the Shelley era as seamless as possible.
Byron reboot comprises of updated features on the Cardano node, Cardano explorer, Daedalus wallet, among others.
Cardano’s developer explained why the Byron reboot was necessary:
“To prepare for the future, and for Shelley. The node that launched at the start of the Byron era was only ever going to take us so far. The new node implementation has been designed from the ground up to support not only imminent Shelley features, such as delegation and decentralization, but anything else that the future has in store.”
According to the Daedalus website, Daedalus Flight represents a “pre-production” version of the Daedalus wallet. The main purpose of Daedalus Flight is to allow ADA token holders to test out Daedalus’ wallet and its new features.
Cardano Price Prediction: Market Opinion for April 2020
A number of crypto forecasting sites have issued their own Cardano price prediction for April, and as usual, we will feature some of the most relevant ones to give you a better sense of the market sentiment for this coin.
WalletInvestor made available a Cardano price prediction for the next 10 days of April, along with their minimum and maximum prices for each respective day.
|Date||Price||Min Price||Max Price|
Longforecast forecasted that the maximum price for the month would be around $0.042, while the minimum price would be at $0.027. The monthly average for the coin was estimated at $0.033. The closing price was calculated at $0.032, change for April 3.2%.
According to 30rates, ADA will be trading on April 30th at $0.030, with a maximum of $0.034 and a closing price of $0.032.
Digitalcoinprice’s Cardano price prediction for April 2020 is that the coin will see a trading price of $0.05930496, with a change of 96.14%.
Altcoinforecast predicted that the coin will have a closing price for April of $0.022.
Gov.capital anticipated that ADA will have a mid-month price of $0.00942, with a maximum price of $0.00951 and a minimum possible value of around $0.009325.
Coinpredictor projected that in one week, Cardano will be trading at $0.045973, with a 9.8% raise, and in one month, the price of ADA will see a drop of 33.2%, which would place the coin at $0.027969.
Cryptoground expects that ADA will have, in one day, a value of $0.0463, with an increase of 54.28%, and the site also expects Cardano to trade at $0.0477, in one week, signifying an increase of 58.81%.
Cryptorating’s Cardano price prediction for the next day is $0.029979, which signifies a decrease of -0.31%, and in one week, it sees the coin losing -53.04% of its value, placing it around $0.014121.
Bitverzo’s Cardano price prediction for April 30th, 2020, was that ADA would have an average trading price of $-0.001021, with a minimum of $-0.103956 and a maximum of $0.111574.
|Friday, April 3, 2020||0.000706||-0.108141||0.101583|
|Saturday, April 4, 2020||0.003881||-0.104597||0.112907|
|Sunday, April 5, 2020||0.002805||-0.102301||0.103338|
|Monday, April 6, 2020||-0.000643||-0.101533||0.097423|
|Tuesday, April 7, 2020||-0.004586||-0.111659||0.103460|
|Wednesday, April 8, 2020||0.000424||-0.103404||0.102921|
|Thursday, April 9, 2020||-0.000979||-0.097585||0.107491|
|Friday, April 10, 2020||0.000690||-0.108532||0.109187|
|Saturday, April 11, 2020||0.003865||-0.100606||0.102216|
|Sunday, April 12, 2020||0.002790||-0.098288||0.112690|
|Monday, April 13, 2020||-0.000659||-0.105633||0.097279|
|Tuesday, April 14, 2020||-0.004602||-0.118151||0.100031|
|Wednesday, April 15, 2020||0.000409||-0.104237||0.106932|
|Thursday, April 16, 2020||-0.000994||-0.106421||0.100088|
|Friday, April 17, 2020||0.000675||-0.105005||0.112645|
|Saturday, April 18, 2020||0.003851||-0.094934||0.112465|
|Sunday, April 19, 2020||0.002775||-0.106222||0.103056|
|Monday, April 20, 2020||-0.000674||-0.107513||0.099597|
|Tuesday, April 21, 2020||-0.004616||-0.110077||0.091213|
|Wednesday, April 22, 2020||0.000395||-0.111607||0.102408|
|Thursday, April 23, 2020||-0.001008||-0.102536||0.103140|
|Friday, April 24, 2020||0.000661||-0.093860||0.105136|
|Saturday, April 25, 2020||0.003837||-0.093363||0.105127|
|Sunday, April 26, 2020||0.002761||-0.105112||0.108659|
|Monday, April 27, 2020||-0.000687||-0.102311||0.108553|
|Tuesday, April 28, 2020||-0.004630||-0.107769||0.097588|
|Wednesday, April 29, 2020||0.000381||-0.101334||0.110253|
|Thursday, April 30, 2020||-0.001021||-0.103956||0.111574|
Cardano Price Prediction: Verdict
This has been our Cardano price prediction for April 2020. We hope that the information we have featured will be of help to you in your future ADA trading decisions.
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