ADA Price is Climbing Above Key Levels, Could it Reach $1 in 2023?
We have seen Cardano’s ADA climb the cryptocurrency rankings with its current price at $1.12 and market cap of over $34 billion. ADA has achieved double-digit gains in the past 24 hours, climbing to 20th spot on CoinMarketCap – sixth-largest digital asset as of writing.
The coin has risen by 6.21% over the last 7 days and is attempting a sustainable position above the key resistance level of $1.10. If this trend continues and ADA manages to stay above this level, it could potentially reach its next milestone at $1.50.
In addition to this, analysts have predicted that by the end of 2023 ADA’s prices could reach an all-time high of $1 per token.
The CEO and founder of Cardano, Charles Hoskinson is aiming for complete decentralization and mass adoption in 2021. If he succeeds in achieving this goal for Cardano, it would definitely help increase demand for the token and drive up prices.
It must be noted that anything can happen in the crypto world as prices may fluctuate depending on market sentiment. We suggest investors to observe the progress made by Cardano closely before investing as there could be more gains or losses in store for ADA holders.