- Bullish ADA price prediction is $0.7354 to $2.3750.
- The ADA price will also reach $10 soon.
- ADA bearish market price prediction for 2022 is $0.1285.
In Cardano’s (ADA) price prediction 2022, we use statistics, price patterns, RSI, RVOL, and much other information about ADA to analyze the future movement of the cryptocurrency.
What is Cardano (ADA)?
ADA is the native token of the Cardano blockchain. This sustainable blockchain uses the proof-of-stake consensus mechanism, Ouroborus. This “third-generation blockchain” initially existed as a layer-1 solution. Eventually, the layer-2 update, Hydra, was integrated onto the existing network in late 2021.
Cardano has been built as an upgraded version of Ethereum’s smart contracts network. It aims to scale the permissionless nature of the DeFi space and aid the mission of banking the unbanked.
Cardano (ADA) Current Market Status
According to CoinGecko, the price of ADA is $0.5852 with a 24-hour trading volume of $1,300,732,429 at the time of writing. However, ADA has decreased by nearly 6.3% in the last 24 hours.
Moreover, ADA has a circulating supply of 33,820,262,543 ADA. Currently, ADA trades in cryptocurrency exchanges such as Binance, OKX, Coinbase, Bitget, FTX, Bybit, and Nominex.
Cardano (ADA) Price Prediction 2022
Cardano holds the 6th position on CoinGecko right now. ADA price prediction 2022 is explained below with a weekly time frame.
The ADA weekly chart shows the descending channel pattern, also known as the falling channel. A descending channel is formed by two parallel trendlines. The upper trendline, which joins the highs, and the lower trendline, which joins the lows, run parallelly downwards. This pattern is the characteristic of a bearish market.
Currently, ADA is in the range of $0.5970. If the pattern continues, the price of ADA might reach the resistance level of $1.25 & $3.16. If the trend reverses, then the price of ADA may fall to $0.4040.
Cardano (ADA) Price Prediction 2022 — Support and Resistance
The below chart shows the support and resistance level of ADA.
From the above daily time frame, it is clear the following are the resistance and support levels of ADA.
- Resistance Level 1 – $0.7354
- Resistance Level 2 – $1.0242
- Resistance Level 3 – $1.4860
- Resistance Level 4- $2.3750
- Support Level – $0.4130
The charts show that ADA has performed a bullish trend over the past month. If this trend continues, ADA might run along with the bulls overtaking its resistance level at $1.4860.
Accordingly, if the investors turn against the crypto, the price of the ADA might plummet to almost $0.4130, a bearish signal.
Cardano Price Prediction 2022 — RVOL, MA, and RSI
The Relative Volume (RVOL) of ADA is shown in the following chart. It is an indicator of how the current trading volume has changed over a period of time from the previous volume for traders. Currently, RVOL of ADA is below the cutoff line, it indicates weaker participants in the current trend.
Moreover, the ADA’s Moving Average (MA) is shown in the chart above. Currently, ADA is in a bearish state. Notably, the ADA price lies below 50 MA (short-term), so it is completely in a downward trend. Therefore, there is a possibility of a reversal trend of ADA at any time.
Meanwhile, the relative strength index (RSI) of the ADA is at the level of 52.87. This means that ADA is in neither an oversold state nor an overbought state. However, this means a major price reversal of ADA may occur in the upcoming days. So, traders need to trade carefully.
Cardano Price Prediction 2022 — ADX, RVI
Let us now look at Cardano’s Average Directional Index (ADX). It helps to measure the overall strength of the current trend. The indicator is the average of the expanding price range values. This system attempts to measure the strength of price movement in the positive and negative directions using DMI indicators with ADX.
The above chart represents the ADX of Cardano. Currently, ADA lies in the range of 26.0430 so it indicates a strong trend.
From the above chart, the Relative Volatility Index (RVI) of ADA can be interpreted. RVI measures the constant deviation of price changes over a period of time rather than price changes. The RVI of ADA lies above the 50 levels, indicating that the direction of volatility is high. In fact, ADA’s RSI is at 52.87 level thus confirming a potential buy signal.
Comparison of ADA with BTC, ETH
The below chart shows the price comparison between Bitcoin, Ethereum and Cardano.
From the above chart, we can identify the trend of the ETH, BTC, and ADA are moving at the same level as the trend. This indicates that when the price of BTC increases or decreases, the price of ETH and ADA also increases or decreases respectively.
Conclusion
With continuous improvements in the Cardano ecosystem, we can say that 2022 is a good year for ADA. For this reason, the bullish price prediction of Cardano in 2022 is $4.49. On the other hand, the bearish ADA price prediction for 2022 is $1.26.
Furthermore, with the advancements and upgrades to the ADA ecosystem, the performance of ADA would help to reach above its current all-time high (ATH) of $3.09 very soon. But, it might also reach $10 if the investors believe that ADA is a good investment in 2022.
FAQ
1. What is Cardano?
Cardano is a third-generation blockchain based on proof-of-stake (PoS) consensus that uses smart contracts.
2. Where can you purchase ADA?
ADA has listed on many crypto exchanges which include Binance, OKX, Coinbase, Bitget, FTX, Bybit, and Nominex.
3. Will ADA reach a new ATH soon?
With the ongoing developments and upgrades within the ADA platform, it is highly likely to reach its ATH soon.
4. What is the current all-time high (ATH) of Cardano?
On September 02, 2021, ADA reached its new all-time high (ATH) of $3.09.
5. Is ADA a good investment in 2022?
Cardano (ADA) seems to be one of the top-gaining cryptocurrencies this year. According to the recorded achievements of ADA in the past few months, ADA is considered a good investment in 2022.
6. Can Cardano (ADA) reach $10?
Cardano (ADA) is one of the active crypto that continues to maintain its Bullish state. Eventually, if this bullish trend continues then Cardano (ADA) will hit $10 soon.
7. How much will the Cardano price reach by 2023?
As per deep analysis the Cardano (ADA) price prediction 2023 is up to $25.
8. How much will the Cardano price reach by 2024?
As per deep analysis the Cardano (ADA) price prediction 2024 is up to $50.
9. How much will the Cardano price reach by 2025?
As per deep analysis the Cardano (ADA) price prediction 2025 is up to $85.
10. How much will the Cardano price reach by 2026?
As per deep analysis the Cardano (ADA) price prediction 2025 is up to $100.
Disclaimer: The opinion expressed in this chart solely author’s. It does not interpreted as investment advice. TheNewsCrypto team encourages all to do their own research before investing.
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Source: https://thenewscrypto.com/ada-cardano-price-prediction