Cardano (ADA) rolled out its Valentine’s Update on Feb. 14, 2023, but its price failed to capitalize on the development. ADA dropped significantly in the last two weeks, shedding nearly 13% of its value by falling from $0.41 to $0.36. Nearly $1.5 billion in ADA’s market cap got wiped away during the same period, making the leading altcoin remain on the back foot. ADA, on the other hand, briefly returned to the green this week after a 10-day slump.
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Cardano: ADA price prediction for March 2023
During the weekend, Cardano published a report confirming that the team ramped up major key network updates. The updates include fixing the peer-to-peer code along with integrating the Cardano node master branch. ADA’s price briefly recovered after the update was published, suggesting that investors are looking for progress and not stagnancy.
ADA may remain on the front foot, with the latest updates helping it scale up in March 2023. On-chain metrics and price prediction firm Changelly’s latest prediction for Cardano’s ADA remains bearish for March 2023.
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According to Changelly, Cardano’s native token, ADA, could climb to a maximum high of $0.41 before retracing to $0.38. Therefore, the forecast suggests that ADA could briefly see a spurt in price before quickly heading back to its previous lows. That’s an uptick of 15% from its current levels.
“The minimum trading cost might be $0.379962, while the maximum might reach $0.419958 during this month. On average, it is expected that the value of Cardano might be around $0.389961,” they predicted.
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At press time, ADA was trading at $0.36 and was up 0.3% in the 24-hour day trade. ADA is down 88.14% from its all-time high of $3.09, which it reached in September 2021.