Cardano ADA Price Prediction

Cardano (ADA) crypto has performed exceptionally well over the last four weeks following the extreme fear phase of the market cycle. Traders who bought Cardano during the lows of July would now be up an impressive 38%.

Currently, Cardano (ADA) is trading at $0.53 and is showing healthy signs of a bullish reversal as we break out of a long-term descending channel pattern.

Will Cardano (ADA) be able to gather enough momentum to repossess the $1 price levels? Cardano is available on eToro.

Cryptoassets are a highly volatile unregulated investment product.

Cardano (ADA) Crypto Price Prediction 2022

From a technical analysis perspective Cardano (ADA) is starting to become rather interesting. Since breaking through the descending channel resistance level of $0.52 we may see the inception of a new uptrend. The next major resistance level I am looking out for is a swing high up to $0.66.

Even though Cardano (ADA) has seen some major gains recently we are still quite far away from being overbought on the relative strength index (daily time frame). This leads me to believe there might be room for more positive price action for Cardano (ADA) depending on the motive of Bitcoin.

The technical target upon breaking out of this descending channel would bring the price of Cardano (ADA) to around $0.79, this is a 44% price increase from current price levels.

Cardano Ada Resistance Levels

Ada/Usdt – Daily Time Frame. 

I do think it is quite possible that Cardano does retest the upper support trendline of the descending channel before taking off again at around $0.49.

Personally, my strategy for Cardano (ADA) is waiting for the relative strength index to cross the oversold position and dollar cost average in (orange line at the bottom) which usually presents good a opportunity.

Cardano ADA Rising Wedge

Ada/Usdt – Daily Time Frame. 

Whilst it is easy to get excited and feel euphoric there is the formation of a rising wedge within the descending channel. This is why we may see a short-term pull back for Cardano (ADA), but if we can consolidate at the current $0.55 it may nullify this pattern all together.

Can Cardano (ADA) Reach $1 in 2022?

For Cardano to reach $1 in 2022 it will require a huge amount of accumulation at these lower levels, if Bitcoin can reach $30,000 again this will also be healthy for the altcoin markets and positively influence the price of Cardano (ADA).

Cardano ADA Historical Price Data

Ada/Usdt – Weekly Time Frame. 

Cardano (ADA) is still 82% below it’s previous all time high of $3.10 which and retrieving the $1 price levels will prove to be quite the challenge during a bear market.

$1 is also quite a huge psychological barrier for Cardano and we have had multiple touch downs of support at that level which make it a very strong resistance. We would be likely to see a rejection once we get there.

Whilst it is still possible for Cardano (ADA) to reach $1 in 2022 I think it will require an altcoin season or a large pump from Bitcoin above $30,000.

Cardano (ADA) Video Analysis

More Lucrative Options to Cardano (ADA)?

Cardano (ADA) has consolidated for some time now and allowed many retail investors and whales to accumulate at lower price levels. As a market capital grows, volatility reduces and potential upside (ROI) per market cycle diminishes over time. Whilst Cardano (ADA) is probably a solid investment for the next crypto bull run I doubt we will see a 10x from current price levels.

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I speculate that Tamadoge will offer strong returns for those who participate in the presale, of course, any low market capital project is risky and volatile but a cryptocurrency presale allows you to take advantage of a very low cost entry. I also believe Tamadoge (TAMA) will be one of the next top 10 memecoins and offers more upside potential than Cardano (ADA) in for the future.

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