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Recently, Cardano (ADA) has made a bullish move by joining Bitcoin and the rest of the market. At the time of writing, its price was trading at $0.32. Artificial intelligence machine learning algorithms have made price predictions for its future.
Latest Developments on Cardano (ADA) Coin
Cardano recently presented a new research on Mithril scaling solution to crypto and blockchain enthusiasts, stating:
To increase the efficiency of node synchronization, to enhance decentralization through blockchain snapshot verification by multiple pools that sign a specific certificate, and to provide a collector for creating certificate chains and presenting snapshots using a stake-based signature protocol.
Investors are curious about whether the notable innovations presented by Cardano recently, before the expected bull season, will bring a positive price movement in the near future.
To address investors’ curiosity, machine learning algorithms were consulted to predict the price of ADA at the end of November. As previously mentioned, PricePredictions offers the use of artificial intelligence to predict possible price movements of a cryptocurrency within a specified period.
Future of ADA Coin
According to data obtained on November 4th, it is predicted that the ADA price will maintain its current value and settle at $0.32 with a slight increase during the month.
Cardano is currently finding buyers at $0.32. It has experienced a positive change of 2.34% in its 24-hour trading, resulting in a 10.80% positive weekly rise. ADA, ranked eighth in terms of market capitalization, experienced a 20% contraction last year, which disappointed its investors.
At the time of writing, the ADA price was trading above its 200-day simple moving average, which is a sign of an upward trend. In the past 30 days, 16 days were spent in an upward momentum, representing 53% of the period. It is also worth noting that Cardano is significantly distant from its all-time high, by 90%.
Lastly, it is worth mentioning that ADA has outperformed more than 57% of the top 100 cryptocurrencies in the past year. Particularly, Bitcoin and Ethereum have surpassed Cardano during this period.
