Cardano is hailed to be the “Ethereum of Japan,” and the long-term outlook for the token is bullish.  Price discovery benefits all market participants.

Price discovery is the process of identifying the spot price of the asset. This is a method of deriving an accurate price of the asset type by considering the prevailing market information. Price discovery is important for measuring performance to determine taxes. It helps to decide whether the buyers are dominant or if the sellers are dominant. Best of all, it is about identifying the fair market price at a particular point in time.

Price discovery is the process to find a common price. When the markets are moving quickly, it becomes important for investors to identify new trading ranges to stay competitive and profitable.

ADA investors are hoping to see the price cross $3 in a well-sustained manner.  It just looks like ADA is feeling pulled back at $2.95, and this looks like a corrective downside. The reversal from higher levels has led to a powerful support area in the $2.19 through $ 2.15 support area.

There was a recent Forbes article titled, “Crypto Price Prediction:  Ethereum to “Exceed” Bitcoin But Both Could be Left in Dust by Cardano.”

Billy Bambrough, points to how bankers are predicting a seismic financial shift towards crypto. This is obviously a sign of adoption, and cryptocurrency investors are looking at a direction for price.

Cardano ADA September price target is at $3. The broader cryptocurrency market rally is one of the main reasons for the price direction.  The Smart Contract upgrade is expected to give Cardano a place at part with Ethereum Network in terms of functionality. The “Green-ness of Cardano” is also one of the reasons price push factors.

Ethereum is more useful than Bitcoin, and when ADA becomes at par with Ethereum, there is no need for further explanation as it is obvious that the competition is stiffening. After the coming of the smart contract, ADA is expected to make a huge leap further. The price of ADA has been impressive throughout August, 2021.

The Alonzo Hardfork has three stages like an Alonzo Blue, Alonzo White, and Alonzo Purple. Each of the levels comes with several tests for ‘smart contracts.’ The developers will find and remove bugs from the blockchain before the official switch to the new era.

The $3 price for ADA is the best expectation for now.  Some analysts opine that the token will not cross past $4, but we need to wait and see how reality unfolds.