Cardano Crypto is Retracing Hard! Where will it Go Next? Below 2$??

Cryptoticker 6 months ago Report
Telegram LinkedIn

The crypto market is bleeding red lately. Cardano remained stagnant for months and now it has nosedived to below $2. Such developments have triggered panic among investors. Where will this crypto go during this correction season, let’s find out. 

What is Cardano ADA?

Cardano is an environment-friendly blockchain using POS to validate transactions. It solves the scalability problem through quicker throughput and transaction finality. ADA is the native token to the Cardano blockchain. Users can utilize ADA for paying fees and making transactions on the Cardano chain. 

Price History and What Might Happen Next

Cardano has given 1,294% returns dwarfing Bitcoin and Ethereum. The crypto hit an all-time high of $3.1 in September after its Alonzo Hardfork. Investors were optimistic for a new ATH but the coin dipped to a low of $1.82 at the time of writing from $2.37 in October. With the crypto market retracing after the infrastructure bill, ADA’s future is questionable. Where will Cardano go in 2022?

Cardano Price Prediction 

CoinCodex has given bearish signals for ADA. The RSI and MACD show a neutral outlook. Whereas, Volume weighted Moving Average (VWMA) and Hull Moving Average show sell pressure. ADA could be trading around $2.02 in November and could climb to $4 by 2022 end. By 2028, ADA could average out at around $8. 

These are insights-driven by research but the crypto market is volatile. There are even 1000% gains recorded for Doge and Shiba Inu. Even Solana recorded a steady bullish run in 2021. It was trading below $30 in September and now it is $200. Cardano has tied up with the African continent as a payment gateway. Any major event could push the prices to the sky. It is advisable to do your own research before investing in crypto. 

You might also like

More from Altcoin

Should You Consider Loopring Despite Huge Jump?

Loopring recently made a massive climb in the market. In this article, we will be looking at the asset and …

Why Is Shiba Inu Dropping In Value?

Shiba Inu has been losing a big part of its value. In this article, we will be looking at the …

What is LivePeer Crypto? Will LPT Token boom further?

LivePeer crypto is a video streaming infrastructure built on top of the Ethereum blockchain. It is solving the existential problem …

This post may contain promotional links that help us fund the site. When you click on the links, we receive a commission - but the prices do not change for you! :)

Disclaimer: The authors of this website may have invested in crypto currencies themselves. They are not financial advisors and only express their opinions. Anyone considering investing in crypto currencies should be well informed about these high-risk assets.

Please also note our Non-liability disclaimer.

Trading with financial products, especially with CFDs involves a high level of risk and is therefore not suitable for security-conscious investors. CFDs are complex instruments and carry a high risk of losing money quickly through leverage. Be aware that most private Investors lose money, if they decide to trade CFDs. Any type of trading and speculation in financial products that can produce an unusually high return is also associated with increased risk to lose money. Note that past gains are no guarantee of positive results in the future. 

Original Source:

Disclaimer: Cardano Feed is a Decentralized News Aggregator that enables journalists, influencers, editors, publishers, websites and community members to share news about the Cardano Ecosystem. User must always do their own research and none of those articles are financial advices. The content is for informational purposes only and does not necessarily reflect our opinion.

Join Our Weekly Newsletter of Cardano

Your weekly dose of Cardano news straight to your inbox!
Genius X is launching its Initial Stake Pool Offering (ISPO) Starting on May 15, 2022
Revolutionize the business accelerator experience and provide unparalleled support for ambitious crypto startups, Genius X is raising funds through a public ISPO and helping foster innovation in the Cardano ecosystem. CLICK HERE!