Cardano Price Prediction – Will ADA Price Hit $10 in 2022? – CoinQuora – Live Crypto News
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. 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. 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: 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. In the second stage, everyone could participate in the verification process of Cardano transactions, which made it decentralized. Shelley officially began in June 2020. 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 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. 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. As of the time of writing this Cardano (ADA) price analysis, ADA trades at $0.618 with a 24-hour trading volume of $789,165,236. The price of ADA has increased by 9.51% in the last 24 hours. Furthermore, ADA has a current circulating supply of 33.74B. 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 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 54.17 indicating that neither buyers nor sellers are having their ways, since it lies between 50 and 70 which represents a strong trend. A market reversal could be possible as it approaches the 70 mark that shows that the price is oversold. With this in mind, traders, especially scalp and day traders, can trade with confidence without worrying about a major price reversal. The Cardano network is one of the most active cryptos 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. 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 28.05 which indicates that the recent trend is strong since it is lies between 25 and 50. This bullish chart below shows that the price of ADA has increased in the past few weeks. Moreover, the price of ADA is up by 9.63% in the past 24-hour. If this continues, ADA might keep running bulls breaking its $0.755 resistance1 level, and even move higher to $2.358 resistance5 level, the bullish signal for 2022. Conversely, if the investors go against the crypto, the bears might take over and dethrone ADA to a downtrend position. In simpler terms, the price of ADA might plummet to almost $0.399, 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 $2.358 price at the Resistance5 in 2022 this year. However, that will only happen if it breaks many previous psychological resistances it attained the previous years.