**Cardano (ADA) Market Overview**
The current price of Cardano (ADA) is $0.3350, reflecting a decline of 5% in the last 24 hours. Historically, ADA has closed above its opening price on nearly half (49.84%) of trading days. The all-time high for ADA stands at $2.98, recorded over three years ago, marking an 88.74% decrease from that peak.
**Technical Analysis**
Out of 17 technical indicators, only 1 suggests a buy while 12 indicate sell, signaling a bearish sentiment in the short term. The key resistance level is at $0.3954; a close above this level is necessary for a potential uptrend, with support at $0.2838. If the price falls below $0.2838, further declines may follow. Conversely, surpassing $0.3954 could lead to a rise toward the next resistance at $0.4945.
The 14-day relative strength index (RSI) is at 44.39, indicating neutral market conditions, while the weekly RSI is at 46.65, also reflecting a balanced state. On the daily chart, Cardano is currently below all exponential moving averages, reinforcing the bearish outlook.
**Historical Performance**
In the last eight years, ADA has closed above its opening price on the last day of October three times, with five instances showing lower closing prices than at the month's start. April has historically been the best month for Cardano, with four out of eight years seeing price increases, while June has been the worst, with six years of declines.
**Bull Runs and Future Projections**
Cardano experienced two significant bull runs: the first led to an all-time high of $1.33 in January 2018, followed by a prolonged decline to $0.0263 before the next rise. It took approximately four years to reach a new peak. The latest bull run started in September 2021, and it has been over 1,100 days since then. Historical patterns suggest that ADA needed 1,318 days to achieve its last all-time high.
According to our price predictions, ADA could reach $0.3989 within the next 10 days. For 2024, the maximum expected price is $0.8770, with a minimum forecast of $2.17. Looking ahead, projections for 2025 estimate a high of $7.79 and a low of $5.81, while forecasts for 2030 suggest a potential price of $14.99. By 2040, ADA could potentially reach $46.52, based on historical trends and lower time frame analyses.
