Cardano (ADA): Why Should It Be a Must Crypto to Watch for 2022?

The general price action in the crypto currency market during 2021 was an extension of the bull certification during the last months of 2020. Cardano (ADA) has since grabbed a strong bullish momentum and managed to steal the show among the realm of high currencies, giving its tone as a true competitor among the greatest.

Currently, according to Coinmarketcap, ADA is trading hands at $ 2.22, with a market capitalization of about $ 72.90 billion, standing at the fourth place in the rank of the largest cryptocurrencies in terms of market restriction.

The project founded by Charles Hoskinson also saw some improvements in the blockchain, which strengthened confidence among the virtual currency during the first months of the year. Most recently, in September, Cardano deployed his hard fork Alonzo.

Now, after breaking the $ 2.00 threshold and consolidating their annual earnings above that quarter, crypto traders are looking at next year’s forecasts. AI-based forecasting models like WalletInvestors are metante ADA is $ 4,587 according to press time from an annual outlook, while its five-year forecast says Cardano’s currency could explode to $ 14.05

So, what would be the future of the price after the continued consolidation around $ 2.00 in 2022?

ADA Technical Analysis for 2022

When the year-end period pops up and Bitcoin (BTC) finally cracks above $ 60,000, which is the newest critical hurdle ahead of its all-time highs, ADA has been caught at some distance that has not been resolved since the lows tested on September 21 at $ 1.90.

As a contraction has developed across the board, the 200-period simple moving average (SMA) at the H4 chart limits gains and limits any further ADA advance above $ 2.40.

That said, bulls should burst over such an area to allow a golden crossover of the 50-period simple moving average with the 200 SMA and thus strengthen the bullish case. A gold cross in the H4 chart is significant in the crypto markets as it is a solid signal that could release an bullish force that may be strengthening. If that’s the case, ADA could prepare the ground for a bullish 2022 year that could lead it to test levels around $ 5.00.

In fact, another forecast model, LongForecast, price of ADA at the Q4 2022 about $ 3.24, which is the average price Cardano’s currency could target in a possible bull run.

Gene Simmons and ADA

But is that an overly optimistic view of ADA? Ask Gene Simmons, rock legend and bassist of Kiss, who is a well-known ADA investor.

He claimed in February that he had bought coins from ADA and confirmed recently in an interview that he still holds them, suggesting his investment has doubled since then. Moreover, Simmons said he plans to keep his crypts for at least a “decade.”