What does Cardano need for a good start into 2022?
Cardano and its investors have had a bad time over the past few months. Although it has grown a lot, it’s not the most profitable asset. Perhaps that could change by 2022 as ADA has shown positive signals.
Cardano comeback
With just under a week left to the end of 2021, Cardano’s performance has really improved for the first time in months.
The downtrend that has started since hitting an all-time high in September has caused ADA to drop 58.2% to $ 1.34. In the last 3 months only two rallies lasted longer than 2 days.
One of them was in mid-November when ADA rallied 14.46% and appears to have almost penetrated resistance. However, at that critical moment it failed, resulting in a steady decline in Coinmarketcap rankings.
At press time, the MACD was moving above the signal line for the first time in over a month and the market saw a bullish crossover.
Also, the candlesticks closed above the 20th MA for the first time in a month.
Source: TradingView
As these developments are too early, it cannot be determined whether these are the first signs of recovery.
However, if you look at Cardano’s performance in 2021, it will take more than a 9% increase to get off to a good start into 2022.
What happened last year
This year, 2.58 million wallets in the network have collected over 23.8 million transactions. In addition, with an embossing network of over 2 million NFTs, it has also left its mark in the DeFi area since August.
Source: Cardano
Hopefully those gains will be enough to revive dwindling investor interest, given that Cardano’s social presence is pretty grim right now and investor sentiment has been worst in recent years.
Source: Santiment
The recession that followed 4 months later resulted in an increase in address losses from 17,000 to 2.6 million at the time of going to press.
These have all been important so far and need to be addressed for Cardano to have a really successful year in 2022.
Source: Intotheblock
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What does Cardano need for a good start into 2022?
Cardano and its investors have had a bad time over the past few months. Although it has grown a lot, it’s not the most profitable asset. Perhaps that could change by 2022 as ADA has shown positive signals.
Cardano comeback
With just under a week left to the end of 2021, Cardano’s performance has really improved for the first time in months.
The downtrend that has started since hitting an all-time high in September has caused ADA to drop 58.2% to $ 1.34. In the last 3 months only two rallies lasted longer than 2 days.
One of them was in mid-November when ADA rallied 14.46% and appears to have almost penetrated resistance. However, at that critical moment it failed, resulting in a steady decline in Coinmarketcap rankings.
At press time, the MACD was moving above the signal line for the first time in over a month and the market saw a bullish crossover.
Also, the candlesticks closed above the 20th MA for the first time in a month.
Source: TradingView
As these developments are too early, it cannot be determined whether these are the first signs of recovery.
However, if you look at Cardano’s performance in 2021, it will take more than a 9% increase to get off to a good start into 2022.
What happened last year
This year, 2.58 million wallets in the network have collected over 23.8 million transactions. In addition, with an embossing network of over 2 million NFTs, it has also left its mark in the DeFi area since August.
Source: Cardano
Hopefully those gains will be enough to revive dwindling investor interest, given that Cardano’s social presence is pretty grim right now and investor sentiment has been worst in recent years.
Source: Santiment
The recession that followed 4 months later resulted in an increase in address losses from 17,000 to 2.6 million at the time of going to press.
These have all been important so far and need to be addressed for Cardano to have a really successful year in 2022.
Source: Intotheblock
Join Bitcoin Magazine Telegram to keep track of news and comment on this article: https://t.me/coincunews
Follow the Youtube Channel | Subscribe to telegram channel | Follow the Facebook page
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