What is Cardano (ADA)?
Cardano is a blockchain network based on proof-of-stake (PoS). It was founded in 2015 by Ethereum co-founder Charles Hoskins. Cardano is more efficient, scalable, sustainable, faster, and cheaper than Bitcoin and Ethereum.
To provide a robust decentralized platform for third-party decentralized applications and smart contracts, Cardano will be developed in five phases:
Cardano has a native currency called ADA, which is among the world's top 10 cryptocurrencies and listed on more than 31+ exchanges like Binance, Coinbase, Crypto.com, Gemini, and BitMart.
Check Cardano fundamentals before analysis the price prediction.
Cardano Price History
Cardano Price Prediction 2022
- Trend: Downtrend
- Resistance: $0.42
- Next Possible Support: $0.18 to $0.15
- Relative Strength : 32
In In Dec 2021, Cardano's negative trend started with Death Cross Over (50 Day EMA Cross the 200 EMA) at the $1.3 level, and after two months, it also broke the strong support level of $1.05-$1.02.
ADA was braked the support level near $0.40 to $0.42 (in the above chart) on Monday 10 Oct 2022, which signaled a change in trend. The cryptocurrency entered a bear market or we can say in downtrend and will likely experience a sharp decline in price over the next few months.
According to the daily chart pattern ADA could take support near at $0.18-$0.15 and expected 40% to 60% downfall.
Cardano Price Prediction 2025
The Cardano (ADA) weekly price chart indicates that the Relative Strength Index (RSI) is near 35, and the price has braked the support level at $0.40-$0.45. That means the this crypto is volatile or downtrend for the next few weeks.
We also consider the Fibonacci level 0.236, near ADA's previous resistance level of around $1. So if Cardano could not holds the $0.35-0.30 zone with a strong base, we may see ADA going down to the $0.15 price mark in the long run.
The How to Trade Cardano?
To trade Cardano cryptocurrency, we have to understand three things:
1 ADA Price levels:
As I described above, every cryptocurrency has some price level. These levels are based on the previous zones and are called support and resistance.
The best trade is when the price takes support and gets a reversal, or the price gets rejected from the resistance mark. We also avoid non-trading zones (areas with no clear movement), which may indicate that a rally is not yet underway.
2 Market Sentiments:
Market sentiment is an important factor for swing trading. For example, you identified that ADA is no longer taking any support and crossed the most vital support mark.
Now ask yourself if market sentiments are suitable for this short trade—like the current market is a downtrend, every currency is weak, and the overall world is going through the risk of recession—so yes, it might be a good trade.
3 Crypto Relative Strength:
Before taking a trade check the Relative Strength to compare the ADA strength with Bitcoin. Yes, it helps you lot because if Cardano is weaker than Bitcoin, your short-trade might be higher possibilities.
ADA Cryptocurrency current price is $0.6308
Cryptocurrencies are very volatile and prone to extreme price fluctuations. However, I think the top 10 cryptocurrencies are good from a trading perspective, and Cardano is one of them. I mention it because it gives us a great opportunity for big momentum trade.
It is premature to predict any cryptocurrency price for a jump of 10x or 20x from the current price mark. Talk about Cardano - The all-time high is $3.10, and there are many resistance zones in the upper levels, so I think it's very difficult for Cardano to Hit $10 in one or two years, but yeah, it has potential.
Not much now because Ethereum 2.0 has changed the scenario where ETH works on Proof of Stake (PoS), which is the same as Cardano. So, they both have more efficiency, leading to high-speed and low-cost transactions. But as an Investment proposal, you can give a chance to both currencies.
It would help if you understood that we are not in the old days when the Crypto price rose to 100x in a few months. Remember, it's all forecast based on previous levels and technical tools - No one knows the Future, we can only predict.
The information provided in this article is not financial or investing advice. The author does not make any warranties about this information's completeness, reliability, and accuracy. The cryptocurrency market is volatile, and it can be difficult to predict which coins will rise and fall in value over time. Any investor should research multiple viewpoints before committing to an investment.