Cardano(ADA) Price Prediction 2022 — Will ADA Hit $4 Soon?

• Bullish ADA price prediction is $0.7354 to $2.3750.
• Cardano (ADA) price might also reach $4 soon.
• Bearish ADA  price prediction for 2022 is $0.4130.

In Cardano(ADA) price prediction 2022, we use statistics, price patterns, RSI, RVOL, and other information about ADA to analyze the future movement of the cryptocurrency. 

Cardano (ADA) Current Market Status

According to CoinGecko, the price of Cardano(ADA) is $ 0.553605 with a 24-hour trading volume of $ 896,263,318 at the time of writing. However, ADA has decreased by nearly 1.8% in the last 24 hours.

Moreover, Cardano(ADA) has a circulating supply of 33,820,262,543  ADA. Cardano(ADA) trades in cryptocurrency exchanges such as Binance, OKX, Coinbase Exchange, KuCoin, Gate.io.

What is Cardano (ADA)?

Cardano (ADA) is the native token of the Cardano blockchain. This sustainable blockchain uses the Proof-of-Stake (PoS) 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) Price Prediction 2022

Cardano (ADA) holds the 6th position on CoinGecko right now. ADA price prediction 2022 is explained below with a daily time frame.

An ascending channel is defined as the price action contained between two parallel upward-sloping lines. This price pattern is distinguished by higher highs and lower lows. An ascending channel is created by drawing a lower trend line that connects the swing lows and an upper channel line that connects the swing highs.

Price does not always remain entirely formed within the parallel lines of an ascending channel, but instead shows areas of support and resistance that traders can use to set stop-loss orders and profit targets. A breakout above an ascending channel may indicate a continuation of the upward trend, whereas a breakdown below an ascending channel may indicate a change in trend.

Currently, Cardano(ADA) is in the range of $ 0.5588 If the pattern continues, the price of ADA  might reach the resistance levels of $0.6640 and  $ 0.8003. If the trend reverses, then the price of ADA may fall to $0.5387, $ 0.4889 and $0.4091.

Cardano (ADA) Support and Resistance Levels

The chart below shows the support and resistance levels of Cardano (ADA).

From the above daily time frame, we can clearly interpret the following as the resistance and support levels of Cardano (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 Cardano(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 $ 2.3750.

Accordingly, if the investors turn against the crypto, the price of Cardano(ADA)  might plummet to almost $ 0.4130, a bearish signal.

Cardano (ADA) Price Prediction 2022 — RVOL, MA, and RSI

The Relative Volume (RVOL) of Cardano(ADA) is shown in the chart below. It is an indicator of how the current trading volume has changed over a period of time from the previous trading volume. Currently, the RVOL of ADA lies below the cutoff line, indicating weak  participants in the current trend.

Also, the Moving Average (MA) of Cardano(ADA) is shown in the chart above. Notably,  Cardano(ADA) price lies above 50 MA (short-term), so it is in an uptrend. Currently, ADA has entered a bullish state. Therefore, there is a possibility of a reversal trend of ADA at any time.

Meanwhile, the relative strength index (RSI) of the ADA is 59.38. This means that Cardano(ADA) is in 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 (ADA) Price Prediction 2022 — ADX, RVI

Let us now look at the Average Directional Index (ADX) of Cardano(ADA). It helps to measure the overall strength of the 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(ADA). Currently, the ADX of ADA lies in the range of 26.3438  and thus, it indicates a strong trend. 

The above chart also represents the Relative Volatility Index (RVI) of Cardano(ADA). RVI measures the constant deviation of price changes over a period of time. The RVI of ADA lies above 50, indicating high volatility. In fact, the RSI of Cardano(ADA) is at 59.38 thus confirming a potential sell signal.

Comparison of ADA with BTC, ETH

The below chart shows the price comparison between Bitcoin (BTC), Ethereum (ETH), and The Cardano (ADA).

From the above chart, we can interpret that the price action of ADA is similar to BTC. This indicates that when the price of  BTC  increases, the price of ADA increases. When the price of BTC decreases, the price of ADA decreases.

Cardano (ADA) Price Prediction 2023

If the declining price action completely slows down in momentum and the trend reverses,  Cardano(ADA) might probably attain $6 by 2023.

Cardano (ADA) Price Prediction 2024

With several upgrades in the network, Cardano(ADA) might enter a bullish trajectory. If the coin grabs the attention of major investors, ADA might rally to hit $8 by 2024. 

Cardano (ADA) Price Prediction 2025

If Cardano(ADA) sustains major resistance levels and continues to be recognized as a better investment option among the investors for the next 7 years, ADA would rally to hit $10.

Cardano (ADA) Price Prediction 2026

If Cardano(ADA) sustains major resistance levels and continues to be recognized as a better investment option among the investors for the next 4 years, ADA would rally to hit $12.

Cardano (ADA) Price Prediction 2027

If Cardano(ADA) sustains major resistance levels and continues to be recognized as a better investment option among the investors for the next 5 years, ADA would rally to hit $14.

Cardano (ADA) Price Prediction 2028

Cardano(ADA) holds up a strong stance as a better investment option for the next 6 years amid the trends in the highly-volatile crypto market. By driving significant price rallies, ADA would hit $16 in 2028.

Cardano (ADA) Price Prediction 2029

If investors flock in and continue to place their bets on Cardano(ADA), it would witness major spikes. ADA might hit $18 by 2029.

Cardano (ADA) Price Prediction 2030

With greater advancements in the Basic Attention TokenEcosystem, the crypto community might continue to invest in ADA for the next 8 years and drive significant price rallies for the token. Hence, Cardano(ADA) might hit $20 by 2030.

Conclusion

With continuous improvements in the CardanoNetwork, we can say that 2022 is a good year for ADA. For this reason, the bullish price prediction of Cardano(ADA) in 2022 is $2.3750. On the other hand,  the bearish price prediction of Cardano(ADA) price prediction for 2022 is $ 0.4130.

Furthermore, with the advancements and upgrades to the Basic Attention Token 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 $4 if the investors believe that ADA is a good investment in 2022.

FAQ

Disclaimer: The opinion expressed in this chart is solely the author’s. It does not interpret as investment advice. TheNewsCrypto team encourages all to do their own research before investing.

Recommended For You :