Cardano's ADA token saw a solid 3.16% price increase over the past 24 hours to $0.3115. With a market cap of $10.94 billion, Cardano remains one of the top 10 cryptocurrencies. In this report, we analyze the latest Cardano metrics and trends to uncover opportunities.

The 24-hour trading volume was $174.84 million, indicating steady interest and liquidity. Over the past hour, Cardano's price increased slightly by 0.07%, continuing its upward momentum.

Zooming out, ADA price has fallen 3.88% over the past week, which could be attributed to broader market conditions. However, the 1-month and 6-month metrics reveal a positive long-term outlook.

Cardano has surged 10.44% over the past month. And despite declining 20.06% in the last 6 months, most major cryptos have seen steeper losses over this timeframe.

My Prediction

Based on the analysis, I expect Cardano to continue trading in the $0.30 to $0.35 range short-term. Strong support appears to have formed around $0.30. If Bitcoin resumes its uptrend, Cardano could target the psychological $0.40 level this summer. However, major resistance stands at its all-time high of around $3.

Should You Buy Cardano in July 2023?

Cardano remains one of the most actively developed blockchain projects, recently rolling out Vasil, its major network upgrade. With robust staking rewards and strong fundamentals, ADA looks attractive for long-term holders.

However, short-term traders may want to wait for a clear breakout above resistance levels before entering new positions. Overall, Cardano seems a solid addition for well-diversified crypto portfolios.

Is Cardano a Good Investment Compared to Ethereum?

While Ethereum dominates in smart contracts and DeFi now, Cardano aims to compete directly with its focus on scalability, security and affordability. However, Ethereum enjoys a massive lead in adoption currently.

Ultimately, both projects can succeed in different niches long-term. Investing in both ADA and ETH allows benefiting from their respective strengths while hedging one's bets. Overall, Cardano remains an intriguing blockchain project to watch.

In summary, Cardano shows positive momentum despite recent volatility. However, prudent position sizing and risk management remain essential.