Cardano Price Prediction 2023: Here’s Why ADA Price May not Reach Beyond $1

Cardano price prediction after quite a long time turns slightly bullish, displaying a diverse trend compared to previous ones. The token has been falling for more than a year without displaying any possibility of a rebound. The ADA price fell into the liquidity zone, below which buyers remained off-the-shore, hindering the growth in 2020-21. 

However, considering the new trade set-up, the ADA price is attempting to clinch above the bearish pattern and surge with a large margin. The year 2023, is believed to be the starting point wherein the trend is set to change and remain incremental for a larger time. Hence it can be believed that Cardano’s token price may grow at least a little in its value, this year. 

Trading View

The ADA price has been largely bearish ever since the platform marked new highs and failed to maintain a significant upswing. However, the price has been largely trading within a very narrow region throughout H2 2022 and is believed to display a notable bull run very soon. After breaking out from the inner parallel channel, the ADA price is believed to rise beyond $0.40 to $0.42 which is the first target for the upcoming rally. 

Moving ahead, the second potential target for growth is around $0.80 which is believed to be reached somewhere by the end of 2023. However, bears appear to have held a strong grip around the region’s $0.9, and hence a significant rejection may make its way out that may drag the price too as low as $0.23. The Cardano (ADA) price is believed to remain bearish for a larger time which may even compel the price to drop to $0.12 in 2023!

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