Cardano (ADA) just closed a year, trading below the $1 price. The last time the token sold around the $1 region was in April 2022. Since then, the token has struggled to replicate price movement that led to reaching significant price levels during the years 2021 and the first quarter of 2022.
Cardano (ADA) reached an all-time high of $3.10 in September 2021. Its current selling price of approximately $0.63 implies that the token is shy of the peak price by about 80%.
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Despite failing to achieve the highly anticipated $1 price level in 2023, ADA’s price movements were relatively impressive. The token registered a 146.95% increase during the just concluded year, a feat it last achieved in 2017 when it closed the year by registering a 517% price surge.
Notably, ADA’s expansion in 2023 could be linked to the varying degrees of growth registered on its Decentralized Exchange (DEX) and non-fungible tokens (NFTs) platforms.
As 2024 begins, hope seems restored for Cardano (ADA) to attain remarkable prices, especially with the Bitcoin halving event counts down.
Having established the above facts, we shall reveal some top analysts’ price predictions for Cardano (ADA). Will ADA soar in 2024? If yes, to what level?
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Top Analysts’ Opinion On Cardano (ADA) Price Trajeory
LuckSide, a renowned YouTuber and analyst, recently took to the video-sharing app to make some bold claims on ADA’s potential price movement.
According to Luckside, ADA could face critical resistance at price levels between $0.60 and $0.67. Despite some regulatory challenges Cardano hopes to circumvent this year, the crypto expert sounded positive on ADA.
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Luckside highlighted two angles to his prediction. The first is that ADA could witness a surge that could send it to the $0.70 price level. On the other hand, the expert noted that the token might experience a decline, which could plunge the asset’s price to the $0.40 price level.
Jason Appleton, another well-known crypto market analyst, predicted ADA’s potential to reach a $32 price level after the Bitcoin halving event. The market expert noted that the rally would oversee ADA’s ascent to becoming one of the most valuable altcoins.
Meanwhile, ADA’s data on Coincodex revealed that the digital asset has maintained a considerable market capitalization to be ranked the eighth largest cryptocurrency. ADA boasts a market cap of $ 21.08 billion, a 24-hour trading volume of $847.50M, and a market dominance of 0.0402.
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