|Marketcap||Volume||52 Weeks High||52 Weeks Low|
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:
- Foundation (Byron)
- Decentralization (Shelley)
- Smart Contracts (Goguen)
- Scaling (Basho)
- Governance (Voltaire)
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 Upbit.
(ADA) Cardano Fundamentals Overview
Before jumping to the Cardano price prediction and analysis, you should take a look at the fundamentals.
|52 Week High-Low||$3.1 – $0.4064|
|Mechanism||Proof of Stake|
|Listed on||31+ Exchanges|
|Max Transaction Capability||250 Per Second|
|Average Transaction Cost||0.16 – 0.17 ADA|
|Current Circulating Supply||34B|
|Web & Social||Cardano.org, @Cardano, r/cardano, telegram/Cardano, YouTube/Cardano|
Cardano Price Prediction For July 2022
As we know, the crypto market experienced heavy selling in the past 1 year and Cardano (ADA) was no exception. After touching the all-time high price at $3.1, ADA lost 85% of its value in the past 10 months and is currently traded at a $0.5339 price level.
In Dec 2021 Cardano’s price makes Death Cross Over (50 Day EMA Cross the 200 EMA) at $1.3 level and after 2 months in Feb 2022, it also breaks the strong support level of $1.05-$1.02.
For now, ADA has maintained a support level of $0.45 to $0.38 and if this level is sustained, we may see a major buying opportunity soon. But if Cardano breaks this level the next support zone is at $0.175-$0.155.
We also consider the Fibonacci level 0.236 which is near ADA’s previous resistance level of around $1. So if any negative event does not happen in the market in the coming then the Cardano price can reach up to the $1 mark. However, if the price makes a sharp reversal or breaks below the mark of $0.45 to $0.38, then we can expect a big fall to the $0.175-to-$0.155 level.
Cardano Price Prediction For Long-term (2022 – 2025)
The Cardano (ADA) weekly price chart indicates that the Relative Strength Index (RSI) is near 30 and the price has consistently taken support at $0.45-$0.40. This means the market is low volatile or side-ways kind for the next few weeks.
But as we discussed in our previous paragraph, this could change if volume increases in the near future. If that happens, it could be around 50-60% of momentum in ADA price.
Cardano Historical Price Events
|Date||ADA Price Event|
|ADA Current Price||$0.5339|
|Sep 2021 to Till Today||ADA In a Bear Market Zone and Lost 85% of Value|
|Jan 2020 to Sep 2021||Cardano Jump up to almost 15x (From $0.20 to $3)|
|July 2018 to Dec 2020||Make Side Ways Moment|
|Jan to July||Down Trend Market (ADA Lost 90% Value)|
|Jan 2018||ADA Make His First High of $1.11|
|2017||ADA Launch at $0.020|
Right now the ADA Cryptocurrency trade at $0.5339
Cryptocurrencies are very volatile and prone to extreme price fluctuations. However, I think the top 10 cryptocurrencies are good from the perspective of trading and Cardano is one of them. The reason I want to mention it is that it gives us a great opportunity for trading and 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 next to Impossible for Cardano to Hit $10 in this year 2022.
Cardano and Ethereum differ in the consensus mechanism they employ. ADA follows the Proof of Stake (PoS), which is less secure but more efficient, leading to high-speed and low-cost transactions. On the other hand, Ethereum follows the Proof of Work (PoW) which is more secure but less efficient, leading to slow transactions.
One thing you should understand is that we are not in the old days when the Crypto price rose to 100x in a few months. And talk about long-term price prediction – We don’t know where the ADA or any crypto is going. Remember it’s all forecast based on previous levels and some technical tools – No one knows the Future.
Also, Read – Top 100 Cryptocurrencies (Futures)
All of the forecasts and predictions in this post are based on previous levels and technical analysis models. They should not be considered investment advice. Before taking any investment or trading decision, you should learn first about the market, get advice from an expert, and then start with a small amount of money.