Search ForexCrunch
  • The Cardano Price Is Back Up to The $2.46 Level As A Recovery Seems To Have Started
  • Although There Was Much Expectation On The Alonzo Upgrade, the ‘Ethereum Killer’ Performed in Rather Disappointing Fashion This week
  • Crypto Market Still Unstable With Most Coins Treading Water

The Cardano price was up by around 4% this morning as a recovery of sorts seems to have commenced. Although the Alonzo upgrade was supposed to increase the transaction speed of ADA, this did not have an effect on the price which descended substantially over the past days. However, there appears to be a recovery of sorts on the horizon.

With a crypto market that is experiencing a considerable period of instability, it remains to be seen if Cardano will continue to rise or experience a fall. It is worth noting that ADA was one of the few coins over the last month which managed to reach an All-Time High of around $3.10 and further upside long term remains a considerable possibility.

If you haven’t yet bought some Cardano then take a look at this How To Buy Cryptocurrency Beginner’s Guide.

Short Term Prediction For Cardano Price: More Upside As Broader Crypto Market Recovers

The Cardano price appears to be poised for a considerable rebound in the near term although some pitfalls remain. With the spectre of regulation still on the horizon, uncertainty remains but Cardano does look on a positive uptrend. It has to be remembered that ADA rose by almost 200% from its swing low of $1.06 on July 20 although the recent retracement has had its effect.

If a bullish thesis were to enter the fray, the Cardano price would probably tag the $2.75 level where there is considerable resistance. If that level breaks, then it would probably rise to the $2.90 level, a price last revisited in early September.

If a bearish scenario continues, the Cardano price would probably descend down to the $2.30 level where there is the first level of support. If this falls through and a sell-off occurs, the price will probably fall to the $2.20 mark although this descent looks unlikely at this point.

If you would like to start trading cryptocurrency, you should have a look at these Top Cryptocurrency Brokers.

Long Term Prediction For ADA: More Bullish Upside Expected With New ATH’s By End Of Year

The Cardano price is expected to continue rising in the long term although, as always with crypto, pitfalls and retracements remain a possibility. The vast majority of analysts are looking at the $5 level for Cardano by the end of the year.

With the issue of increased crypto regulation still on the horizon, instability in the markets remains. However, Cardano seems to have been accepted as a valid investment opportunity with parabolic growth a possibility in the long term.

Where to Buy Cardano

If you want to purchase Cardano, you can do so on the following exchanges:

eToro is one of the trusted exchange platforms in the crypto space. eToro supports copy trading, which allows new traders to learn from market experts. eToro also charges low trading fees and commissions.
The other platform where you can buy Cardano is Binance. Binance is one of the largest exchange platforms. It supports a wide range of cryptocurrencies and trading pairs. It also offers user-friendly features.

Looking to buy or trade Cardano now? Invest at eToro!

Capital at risk