Cardano Price Prediction – Will ADA Price Hit $10 in 2022?
- Bullish ADA price prediction ranges from $1.52 to $3.18.
- The ADA price might also reach $10 soon.
- ADA bearish market price prediction for 2022 is $0.084..
This Cardano (ADA) Price Prediction 2022 article is based on technical analysis alone. Below, you will see the key metrics that we have taken into consideration upon coming up with our ADA price analysis and prediction.
Cardano is one of the cryptocurrencies that continue to develop its ecosystem. It is considered one of the busiest platforms this year. As a result, ADA is one of the altcoins that investors eye in the crypto space.
In the midst of the present bearish market, one of the cryptocurrencies that investors are looking forward to for a bullish run is Cardano native token ADA. Due to the increase of the global crypto population by 178% in 2021, Cardano has positioned itself to be adopted through the ability of users to create other native assets in the blockchain and complete transactions without the smart contract. This has enabled to have over 2.5 million native tokens presently. This has enabled ADA investors to receive over 200% return on investment (ROI) in 2021.
Moreover, it seems like Cardano’s “Alonzo” upgrade has a significant impact on investor sentiment. In fact, the upgrade is about smart-contract features and addresses what critics have called one of the network’s most glaring deficiencies. To add on, the price of ADA has surged over the past two months. This is mostly because of the successful Alonzo testnet launch and also the imminent arrival of the Alonzo mainnet hard fork.
Now that we’ve seen the developments of Cardano, will it be a profitable cryptocurrency in 2022? Let’s find out in this CoinQuora Cardano Price Analysis and Price Prediction 2022.
What is Cardano (ADA)?
Cardano is a blockchain-focused network that runs its own mainnet. Moreover, the crypto could perform all the things it thinks necessary for the network without any restrictions. Notably, when it comes to the development of the platform, Cardano is created by the Input-Output Hong Kong firm (IOHK). More so, Charles Hoskinson, BitShares developer, and Ethereum Co-Founder, leads the said company. Charles launched Cardano in 2017 and named its blockchain after Gerolamo Cardano a 16th century Italian polymath and its native token ADA after ADA Lovelace a mathematician in the 19th century.
In addition, the Cardano network aims on offering a platform for developers where they could create smart contracts and decentralized applications. Recently, Cardano upgraded to Goguen mainnet, which is a blockchain technology that offers token lock network features.
Added to this, ADA is the native cryptocurrency of Cardano. However, it functions as a means to pay for premium services on the platform. Added to this, users in the network could transfer and trade their funds utilizing various crypto exchanges such as Binance, Upbit, and Digifinex to name a few. These coins can be safely kept in Daedalus, Cardano’s own crypto wallet.
Now that we already have an idea about what Cardano is, let’s look into the price analysis of ADA.
Technical Aspects of Cardano (ADA)
Cardano is being developed in five phases in order to achieve its goal of creating a development platform with a multi-asset ledger and verifiable smart contracts for decentralized apps (DApps). The five phases are each named after influential historical figures, and together they are known as eras. Here is a list of the five phases:
Byron (Foundation)
Cardano’s Phase 1 or Byron was released in September 2017 and was the first release for the general public. In addition, the company launched the Daedalus desktop wallet and the ADA cryptocurrency.
Shelley (Decentralization)
In the second stage, everyone could participate in the verification process of Cardano transactions, which made it decentralized. Shelley officially began in June 2020.
Goguen (Smart Contracts)
In the third era of Cardano, smart contracts and decentralized applications will be offered. The Alonzo upgrade launch represents the roadmap of the Cardano Goguen era. Alonzo upgrade was launched in August 2021.
Basho (Scaling)
Basho aims to add sidechains to Cardano in order to scale it even further. As a result, the main blockchain will be split up into a number of smaller chains called shards.
Voltaire (Governance)
The long-term goal of Cardano is to build an autonomous system independent of IOHK, its parent company. In the following weeks, Voltaire will launch a full-fledged governance system that users can use to decide on new features. When the first phase is completed, Cardano will subsequently be able to build a truly decentralized platform.
Cardano (ADA) Current Market Status
As of the time of writing this Cardano (ADA) price analysis, ADA trades at $1.06 with a 24-hour trading volume of $2,156,566,738. The price of ADA has decreased by 3.42% in the last 24 hours.
Furthermore, ADA has a current circulating supply of 33.54B. ADA is presently listed in 30+ top cryptocurrency exchanges such as Binance, Huobi Global, Kucoin, Gate.io, Kraken etc. As a result, crypto ranks as one of the top 10 cryptocurrencies in CoinMarketCap. With all these achievements, we can say that ADA has come a long way in developing its technology throughout the years.
Now that you already have an idea about what ADA cryptocurrency is, do you think ADA is a good investment this year? If you are already excited to know, come, and together let us check this ADA price analysis and price prediction.
Cardano (ADA) Price Analysis
Cardano continues to be one of the trusted digital assets in the crypto world. ADA ranks as one of the top 10 cryptocurrencies in CoinMarketCap.
Cardano’s Moving Average (MA) chart of 200-day and 50-day is shown above. Currently, ADA is in a bullish state. Notably, the ADA 50-day MA is below the 200-day MA (long-term), so it is completely in a bullish state. Therefore, there is a high possibility of a Trend reversal at any time.
The Relative Strength Index (RSI) of Cardano (ADA) is at 41.89 indicating that neither buyers nor sellers are having their ways, since it lies between 30 and 70 which represents neutral. A market reversal could be possible as it approaches the 30 mark that shows that the price is undervalued and is oversold. With this in mind, traders, especially scalp and day traders, can trade with confidence without worrying about a major price reversal.
Cardano (ADA) Price Prediction 2022
The Cardano network is one of the most active crypto this year in terms of technology development. Cardano announced that users will be able to deploy smart contracts once the Cardano hard fork occurs.
Do you think this is enough to make Cardano a profitable network to invest in 2022? Let’s head to the chart in this Cardano price prediction to check it out.
Cardano (ADA) Price Prediction – ADX
Let us now look at ADA’s Average Directional Index (ADX). In particular, the ADX assists traders in finding the strength of a trend rather than its direction. It can also be utilized to determine whether the market is changing or if a new trend is beginning.
The value of ADX for ADA is 19.29 which indicates that the recent trend is weak and that a reversal will soon happen since it is lies between 0 and 20.
Cardano (ADA) Price Prediction – Resistance and Support Levels
This bullish chart below shows that the price of ADA has reduced in the past few weeks. Moreover, the price of ADA is down by 15.13% in the past 24-hour. If this continues, ADA might keep running bearish breaking its support2 level at $0.778.
Conversely, if the investors go bullish in the crypto, the bulls might take over and enthrone ADA to an uptrend position. In simpler terms, the price of ADA might plummet to almost $0.084, a bearish signal indicated by the last support level.
Meanwhile, our long-term ADA price prediction for 2022 is bullish. It has a high possibility of surpassing the $3.127 price at the Resistance in 2022 this year. However, that will only happen if it breaks many previous psychological resistances it attained the previous years.
Also, it is seen that once this present bearish trend is maintained to a point on or close to support1 level, a double bottom could be formed. If this happens, it should be expected that the price of ADA would get to at least Resistance3 which would give the buyers at that point close to 30% profit.
However, ADA can break the support1 level and trade between support1 price of $1.095 and the support price of $0.084 in 2022.
Cardano (ADA) Price Prediction 2023
If this bullish trend continues, Cardano will reach $12 by the end of 2023. Moreover, the first half of 2022 is going to show fast growth, up to $8. Then this rise will slow down, but no major falls are expected. With upcoming partnerships, and developments reaching $12 is quite optimistic in the price point of view but undoubtedly feasible for the near future.
Cardano (ADA) Price Prediction 2024
The price of Cardano can move even great heights, however reaching $18. Moreover, this is possible only if the market maintains its bullish trend. In addition, only if the cryptocurrency Cardano breaks past the psychological resistance level.
Cardano (ADA) Price Prediction 2025
As per the latest upgrades, developments, Cardano price prediction, and new project forecasts of the platform. Moreover, this might boost the price of Cardano in the crypto market, and it will be the best investment as the price can spike and reach around $25.
Cardano (ADA) Price Prediction 2026
In the next four years, Cardano prices could race up to $37. However, reaching this level could not be so difficult for Cardano as additional medium, short-term, and long-term price targets could be found to purchase or sell orders. This indicates that Cardano has a high possibility of reaching a new ATH soon in the next five years as per the prediction.
Conclusion
Cardano has a bright future ahead of it in 2022. With the ongoing developments happening within the Cardano ecosystem, as well as in the overall crypto market, we may see Cardano reach new heights.
Bullish Cardano price prediction 2022 is $3.18. It may even reach over $10 if investors have decided that Cardano is a good investment in 2022, along with mainstream cryptocurrencies like Bitcoin and Ethereum.
FAQ
What is ADA?
Cardano is a blockchain-focused network that runs its own mainnet. Moreover, the crypto could perform all the things it thinks necessary for the network without any restrictions.Will ADA reach $10?
In terms of market position, Cardano has had a growth rate of over +2,000% in the past year. If this trend continues, there is a big chance that Cardano can reach the bullish price of $10.Is Cardano a good investment?
Cardano proved to be one of the active and busiest digital assets in the crypto world in the past year. With this in mind, it is wise to say that ADA is a good choice of investment.Is Cardano better than Ethereum?
In terms of technology and functions, ADA and ETH both have unique quality features. Therefore, it is too early to tell which one is better than the other.What will be the Cardano price by 2023?
Cardano (ADA) price is expected to reach $12 by 2023.What will be the Cardano price by 2024?
Cardano (ADA) price is expected to reach $18 by 2024.What will be the Cardano price by 2025?
Cardano (ADA) price is expected to reach $25 by 2025.What will be the Cardano price by 2026?
Cardano (ADA) price is expected to reach $37 by 2026.
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