#Cardano (ADA) is regarded as one of the most promising cryptocurrencies today. According to CoinMarketCap, the value of the token has been gradually increasing, and the current trading price is $0.45, an increase of 1% in the past 24 hours. Despite the slow progress, the ADA ecosystem is growing steadily, focusing on core development to ensure a steady rise in value.
### Cardano's June forecast
CoinCodex said ADA's bearish sentiment, which may last throughout June. The price is expected to rise moderately and may reach $0.48 by the end of this month. The forecast shows that the price of ADA may rise by 4.92% to about $0.48 by July 4, 2024. The current technical indicators show a bearish trend, while the fear and greed index is 73 (indicating greed). In the past 30 days, Cardano has experienced 40% positive trading days, with a price volatility of 3.22%.
However, the price is also expected to fall slightly. By June 11, 2024, ADA may trade around $0.43, down 5.59%. Despite the mixed signals, the Cardano community is still optimistic. Some forecasts indicate that by the end of 2024, ADA may break through several price barriers, possibly reaching $1.8. If the ADA reaches this goal, it may increase by 302.02%.
### Cardano Ecosystem Development
Despite the slow price trend, Cardano is still focusing on expanding its ecosystem. Recently, the ADA ecosystem updated its UTXO HD version to 0.10.0, aiming to improve developers' contributions and increase on-chain activities. This major update is expected to promote on-chain activities, which may help restore the value of tokens.