Today, the surge in cryptocurrencies continues. Specifically, altcoins such as Cardano (CCC:ADA-USD) have seen a tremendous amount of momentum. Today, Cardano is up more than 6% at the time of writing, approaching all-time highs set last month. For investors considering where Cardano is headed, looking at Cardano (ADA) price predictions is a great way to gauge how much upside could be on the horizon.
Source: Shutterstock
Among the key headlines Cardano investors are digesting today is news that the Cardano blockchain recently achieved 100% decentralization. What does this mean in layman’s terms? Well, the community’s 2,200 stake pool operators now are now entirely responsible for block production on Cardano’s network.
Indeed, this is a key differentiating factor of Cardano, and one investors seem to like. Larger crypto Bitcoin (CCC:BTC-USD) reportedly relies on 10 major mining pools for 85% of its production. Having a more decentralized network can prevent against 51% attacks and other key risks cryptocurrency investors have their eyes on.
Okay, now let’s get to those Cardano (ADA) price predictions I promised.
Cardano (ADA) Price Predictions
To provide context for readers, Cardano currently trades at $1.26 per token.
- CoinSwitch lists a 2023 price target of $2 for Cardano. This prediction was made a while back, so investors need to keep this in mind. Additionally, CoinSwitch predicts a range of $2.88-$3 in 2025.
- The Economic Forecast Agency is an interesting site in that monthly predictions are provided for altcoins such as Cardano. Accordingly, the April 2022 target for ADA is $1.91, and its two-, three- and four-year targets are $1.20, 64 cents and 95 cents, respectively. This site appears to be bearish on the medium-term outlook for Cardano, so is interesting in this respect.
- InvestingCube’s shorter-term April forecast suggests Cardano could be headed for a key resistance level around $2 as bulls pile into this trade.
- Fxstreet has come in with a near-term price target of $2.18 for Cardano. This analysis relies primarily on technical indicators.
On the date of publication, Chris MacDonald did not have (either directly or indirectly) any positions in the securities mentioned in this article.
Article printed from InvestorPlace Media, https://investorplace.com/2021/04/cardano-ada-price-predictions-where-does-ada-go-after-latest-altcoin-frenzy/.
©2021 InvestorPlace Media, LLC