Currently, the price of the Cardano ADA token is still below $1.50. With that, the token has lost over 50% since its all-time high of around $3 in September. The current price officially entered a strong buy zone. Could now be a good entry point before Cardano explodes in 2022? Let’s plot a Cardano Price Prediction and talk about why prices might reverse upwards potentially in 2022.
Cardano is Now Bearish, Can this Change?
In the big Bitcoin correction, the Alt-Coins reacted very differently. Ethereum has lost double digits, but the Ether price is still only a little more than 10% below its all-time high. Other coins like the Metaverse tokens lost a lot. Cardano was also one of the bigger losers.
The ADA token, the native token from the Cardano network, lost a few percent even before the major market correction. After the correction, ADA is now below $ 1.50, down over 50% of its all-time high value. The ADA achieved this at $ 3 at the beginning of September. Will ADA price rise again next year?
Cardano 2022 – Potential Upwards Movement
The current price of ADA seems like a good investment opportunity. If you expect the bull market to continue, ADA is an extremely cheap token right now. Should the overall market turn bullish again in January 2022, Cardano could also see major price jumps again in 2022.
Reasons for future price increases are increasing institutional adoption and an increasingly decreasing supply of ADA tokens. At Cardano, the number of ADA tokens is limited. Therefore, future increases in value are very likely. We have been observing the same thing for years with Bitcoin, the range of which is also limited.
From a technical perspective, ADA prices officially entered a buy area. This zone is delimited by $ 1 and $ 1.3. Despite this huge 30% gap, traders can follow up the exact price-action of ADA and wait for strong price movements. When prices finish consolidating in this area and boom higher, that’s your trend reversal right there. In fact, we can clearly see in figure 2 how prices did that exact same behavior.
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Cardano Blockchain – Scalability and Efficiency
The Cardano network is based on the proof-of-stake consensus mechanism, which makes transactions faster, cheaper, and, in most cases, more secure. In 2022, Cardano could be a serious competitor for Ethereum, which despite the ongoing switch to Ethereum 2.0 is still struggling with scaling problems and high gas fees.
Cardano offers high scalability and is very energy efficient. In the last few weeks, networks such as Solana or Avalanche, which offer innovative technologies, have received more attention. Fundamentally, Cardano is still excellent and, above all, has been reliable for years. In a bull market, the ADA token should therefore rise again massively. Optimists assume a potential of up to 10 to 15 dollars in a major Cardano rally in 2022.
