Cardano 2022 Price Prediction: ADA pushes its luck to retain its pre-December price of $2.25

• ADA crypto reverses its previous bearish trend and rallies to attain its pre-crash price.
• The coin’s CMP performs 3.92% better than yesterday’s closing price.
• The token may become volatile during the intraday session, but has the chance to perform bullish in the long run, says the indicators.

Cardano’s price action changed from gradual bearish to steep bullish after it shifted its course in the last week. The coin creates a lot of pullbacks, putting itself in a delicate position during the intraday session. The market cap went down by 4.2% during the intraday session, while the 24-hour trading volume stayed positive in registering the positive number of transactions by 13.4%. The volume to market cap ratio stands at 0.03795. The ADA/BTC pair stays slightly bearish by 2.6% during the intraday session, followed by the ADA/ETH pair with a decrement of 2.2%.

The 4-hourly chart of Cardano shows the change in the chart in the same month. The trend lines are drawn over the descending candlesticks to depict the gradual downtrend in the first half of December, and then the white trend lines portray the current bullish momentum of ADA. The presence of 2 pullbacks may create a possibility of the three ascending peaks pattern, pushing the coin price above its cut-off level of $1.7. After a month-long stay over the coin, the 50, 100 and 200 EMA lines are finally below ADA’s current market price. The 200 EMA may provide subtle support to the future price of Cardano.

Oscillators support ADA’s price action for the next month

Over the quarter, ADA has experienced a strong bearish momentum, as shown in Cardano’s daily chart spanning over a couple of months. However, the coin may change the trend if it reaches the $1.7 cut-off, as mentioned earlier. The MACD line is below the zero level but above the signal line in a climbing position, indicating better days for ADA. The RSI indicates the same while staying comfortably in the neutral zone.

Conclusion- Cardano to continue its gradual climb while giving pullbacks along the way during the intraday session, benefiting the intraday traders. The long position holders may also dig in the market with the current market price.

Resistance- $2.39

Support- $1.007

DISCLAIMER: The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.