After the first and second-generation cryptocurrencies, Bitcoin and Ethereum, Cardano was introduced in 2017 as a third-generation blockchain. Cardano claims to be a more scalable, secure, and efficient alternative to Ethereum and other decentralized application platforms.

A cryptocurrency like Cardano, which has been around for a while, is one with a growing ecosystem. This year, it has been ranked as one of the busiest. As a result, ADA is one of the altcoins investors are keeping an eye on in the cryptocurrency market.

If you are interested in the future of Cardano (ADA) and want to know the predicted value for 2024, 2025, and 2030, keep reading!

Cardano (ADA) Price Analysis 2024

Will the Cardano blockchain’s most recent improvements, additions, and modifications help its price rise? Moreover, will the changes in the payment and crypto industries affect ADA’s sentiment over time? Read more to find out about Cardano’s 2024 price analysis.

Cardano (ADA) Price Analysis – Bollinger Bands

The Bollinger bands are a type of price envelope developed by John Bollinger. It gives a range with an upper and lower limit for the price to fluctuate. The Bollinger bands work on the principle of standard deviation and period (time).

The upper band, as shown in the chart, is calculated by adding two times the standard deviation to the Simple Moving Average (Middle band ) while the lower band is calculated by subtracting two times the standard deviation from the Simple Moving Average. When the bands widen, it shows there’s going to be more volatility and when they contract, there is less volatility.

ADA has been on an uptrend since the third week of October. The token has been testing the upper Bollinger band, while its fluctuation has been above the SMA. This shows that ADA has been going great as it was and is above average. 

After a period of hugging the upper band, ADA seems to have retraced. It is currently falling, as the traders are selling to make profits from the gains that ADA absorbed. There is a high chance that ADA could look for support near the SMA. Although there is a retracement, the uptrend seems to have not ended. 

The above thesis could be supported by the Bollinger bands that are facing in the upper direction. Although the lower band is moving upwards towards the upper band, the upper band is moving further away from the lower band towards the upper direction. This also supports the fact that ADA’s leg up is not yet over. 

The Bollinger Band Width Percentile (BBWP) indicator used in the above chart shows that the Bollinger bands have expanded to their maximum capacity. It has a value of 93%. Although the ADA has retraced, the BBWP has not yet deemed it to have a downtrend. 

Cardano (ADA) Price Prediction 2024-2030 Overview

Cardano (ADA) Price Prediction 2024

Technical Aspects of Cardano (ADA)

Cardano is being developed in five stages to create a development platform with a multi-asset ledger and verified smart contracts for decentralized apps (DApps). The five phases are named after prominent historical personalities and are referred to as eras. The following are the five phases:

Cardano (ADA) Current Market Status

The maximum supply of Cardano (ADA) is 45,000,000,000 ADA, while its circulating supply is 35,337,340,086 ADA, according to CoinMarketCap. At the time of writing, Cardano is trading at $0.574, representing a 24 hours decrease of 5.75%. The trading volume of Cardano in the past 24 hours has been $613,287,150, which represents a 10.48% increase.

Some top cryptocurrency exchanges for trading Cardano are Binance, Bittrex, eToro, and HitBTC. 

Now that you know Cardano and its current market status, we shall discuss the price analysis of  Cardano (ADA) for 2024.