last few months Cardano (ADA) and its investors, as ADA has not been among the most lucrative assets, despite the improvements released. As we head into 2022, perhaps this may change since the last few days have seen positive signals from the ADA.
Cardano’s ‘Come Back’
As 2021 draws to a close, we can see Cardano’s performance improve for the first time in a while.
The downtrend, which began following ADA’s all-time high in September, has brought the cryptocurrency down 58.2% to $1,348. In the last three months, the number of rallies lasting more than two days was only two.
One of them took place in mid-November when ADA rallied 14.46% and nearly broke through the resistance level. However, at the time, the price failed to do so, causing the altcoin to lose more space on the charts.
At press time, for the first time in over a month, the MACD line crossed the Signal Line and the market recorded a bullish crossover.
Also, candles closed above the 20 MA for the first time in a month.
Since these developments are still early, it is difficult to determine whether they are the first signs of recovery.
Even so, cardanoLooking at the successes of 2021, it will need much more than a 9% rally to make 2022 even better.
What Kind of Year Was 2021 for Cardano?
This year, 2.58 million wallets on the network cumulatively recorded over 23.8 million transactions. Not only that, it has left a mark in the DeFi space, with networks printing over 2 million NFTs since August.
With Cardano’s social presence currently quite bleak and investor sentiment at its worst in almost a year, we hope these successes will be enough to rekindle the dwindling investor interest.
Losses that occurred 4 months ago resulted in damaged addresses increasing from just 17,000 at the time of writing to 2.6 million.
That’s all that matters at the end of the day and ISLANDThis needs to be fixed for ‘s to have a truly successful 2022.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.