• Many believe that the ADA price will be around $0.4788 by the end of 2022.
• The community also believes that ADA could remain in the green for the first six months of 2023.
• ADA is currently trading at $0.3024 after a 0.59% drop in price.

Cardano (ADA) was one of the cryptos that suffered the most throughout the bear market of 2022. Despite this, the community behind Cardano still strongly believes in the potential of ADA and they are surprisingly still extremely bullish on the crypto.

The Price Estimates Feature on CoinMarketCap allows the community to share their guesses on what the price of a crypto might be by a certain time. More than 5,000 Cardano fans have taken advantage of this feature, and on average they believe that the ADA price will be around $0.4788 by the end of 2022.

In other words, the ADA community believes that the Ethereum killer will see a 57% increase in price before the end of this month.

The bullish beliefs of the community continue for the new year. Some people even estimate that the ADA price could reach $0.5, which is a 65% increase. The community also believes that the crypto will remain in the green for the first six months of 2023.

ADA / US Dollar 1D (Source: TradingView)

Despite the community’s optimism, some technical indicators suggest a very bearish trend for ADA. One of these indicators is the fact that the crypto continues to trade below its 50-day moving average, which is a very crucial indicator to record a bullish trend.

CoinMarketCap indicates that ADA is currently trading at $0.3024 after a 0.59% drop in price over the last 24 hours. ADA also weakened against BTC and ETH by about 2% and 2.13% respectively over the last day.

Disclaimer: The views and opinions, as well as all the information shared in this price analysis, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.