When it comes to cryptocurrency, no one can keep up with the latest trends. Bitcoin and Ethereum have been on a tear of late as they continue their rise into popularity among many investors across world markets alike.
However, on the other hand, Cardano is a cryptocurrency that everyone has been talking about. ADA has been anticipated to experience a steep rise in popularity. Cardano is making slow moves to gain its position. Experts have predicted that ADA will experience a huge crypto spike in its virtual currency soon.
With said that the last Wednesday, this digital coin started to show some bullish signals, which means it could be the start of a new expansion phase. Anyhow, the investing/trading opportunities are available now with equal weight and chances.
As per the experts’ analysis, Cardano’s (ADA) price is on the right track for a 100% price rally. However, the ADA price had dropped consistently over the past two weeks.
Besides this, Solana- the rival coin of ADA, has kicked it out from the number 5 spot in the listing of top cryptocurrencies of the world in terms of market capitalization. Meanwhile, Cardano has been removed from the top 5 biggest cryptocurrencies in the world.
In the last week of October 2021, we’ve witnessed a shed of 15% of its value in one day. Similar to other world’s most significant crypto coins – Bitcoin and Ethereum, those have fallen from their all-time high values in the recent past. Cardano, too, declined its price after reaching its all-time high price of 3.10 USD.
According to the analysts of FXStreet, this altcoin will have a massive pump ahead after nine weeks of consolidation. All these predictions have come after evaluating the ADA price trends.
Support and Resistance for ADA
As we all know, the Nearest Support Zone for Cardano was $2.00, then $1.50. At the same time, the nearest resistance level for this virtual currency is $2.50, then $3.00.
Currently, one ADA is equal to $2.06, which is changing from time to time because of its volatility and instability.
Cardano ADA Price Prediction
In the recent two weeks, we have seen a significant price drop of this altcoin. Therefore, it is difficult to predict the exact price of this coin. However, as per the technical analysis, the digital currency has failed the bullish trends from the Descending Triangle. Therefore, the trend geeks can wait until the coin reaches the price of above $2.50.
Also, after doing the price forecast, we can say that it is showing the following trend.
The price of Cardano is showing a Downtrend trend on a Medium-Term basis and almost Neutral on Short- as well as on Long-Term basis.
What is Cardano worth in 2022?
For the longer term, the Cardano (ADA/USD) forecast from Wallet Investor was more bullish, predicting that the average price could reach $2.483 by the end of 2021, climb to $4.837 by the end of 2022 and by the end of 2025 hit $11.883.
According to the forecast from Wallet Investor, the price of ADA is showing bullish signals. On average, at the end of 2021, the price can reach up to $2.483. The website also sees the price can go around $4.837 at the end of the following year, 2022.
Well!!! If you’re looking at the price of this altcoin for a more extended period, then there’re possibilities for this digital coin to reach the mark of 11.883 USD at the end of 2025.
