This coin has the potential to stand out and be the best altcoin bet for 2022

ambcrypto.com:

Cardano price has been an attractive investment since the pandemic crash in March 2020. ADA rallied a massive 17,600% in less than one and a half years and hit an all-time high of $3.11. This impressive rally has seen a massive slump since the fourth quarter of 2021 and shows no signs of stopping. This downswing, in particular, makes ADA one of the best altcoins to bet on for the next leg-up.

ADA Perpetual Futures | Source: Tradingview

Cardano price was loyal to the $1 psychological level since it first tagged it on 9 February, 2021. Since this point, ADA has bounced off the said barrier roughly eight times, with the most recent retest on 3 February. Soon after, ADA sliced below the significant level and is currently hovering above the $0.843 level that could make or break Cardano.

The $0.843 support level is vital for multiple reasons, so a breakdown of this barrier could see ADA crash by 56% to $0.397 and is appropriately termed as “max pain scenario.” There are two primary reasons why such a steep and violent downtrend is to be expected.

Interested investors can start dollar-cost averaging their investment at the current level and leave some bids around $0.40.

ADA Perpetual Futures | Source: Tradingview

Supporting this outlook for ADA is the 365-day Market Value to Realized Value (MVRV) model. This indicator is used to identify the average profit/loss of investors that purchased ADA over the past year.

Currently, the 365-day MVRV is hovering around -50%, indicating a majority of the holders are at a loss. The last time this indicator dipped this low was in March 2020 due to the pandemic. As mentioned above, the pandemic crash served as a perfect opportunity to accumulate, leading to massive gains. Therefore, a repeat of this