Blockchain News

Cardano (ADA) Price Prediction: What to Expect in the Next 48 Hours

Cardano’s DeFi ecosystem has witnessed substantial growth, with a record high of 578 million ADA locked in decentralized finance protocols. The top 10 protocols on Cardano have experienced significant double-digit growth in the past month, indicating increased activity on the blockchain. However, Santiment reported that a substantial amount of ADA was sold at a loss following profitable investments.

In terms of market standing, Cardano (ADA) is currently ranked as the seventh-largest project by market cap. Its price has experienced a 24-hour drop of 1.07%, reaching $0.2833, with a market cap of $9.908 billion. The 24-hour trading volume was $208.107 million, and ADA’s weekly performance showed a 3.98% decline.

Data from IntoTheBlock revealed that the majority of ADA holders are medium-term and long-term investors, with 56% categorized as long-term holders and 40% as medium-term holders. However, on-chain signals were bearish, with Cardano’s net network growth at 0%, the percentage of ADA investors in profit declining over 2%, and a drop of over 30% in the number of large ADA transactions.

Technically, ADA’s price has been trading within a consolidation channel, but a bearish descending triangle pattern has formed on the 4-hour chart. A break below the lower limit of the price channel at $0.2765 may lead to a potential drop to $0.2594. On the other hand, a 4-hour candle close above $0.2910 would invalidate the bearish scenario and open the possibility for a retest of the resistance at $0.3013, with a potential further rise to $0.3115.

The daily chart shows ADA is trading below the 9-day and 20-day EMA lines. Breaking above these indicators could provide support to flip the resistance at $0.3013 into support. However, failing to close a daily candle above the EMAs within the next 48 hours may result in a drop below the support at $0.2765 in the coming week.


Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Crypto is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Crypto market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.