Cardano (ADA) Price Prediction for December 24
12/24/2024 17:27
Can traders expect one more decline from Cardano (ADA)?
Original U.Today article
Can traders expect one more decline from Cardano (ADA)?
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Some of the coins have come back to the green zone, according to CoinMarketCap.
ADA/USD
The rate of Cardano (ADA) has dropped by 1% since yesterday.
On the hourly chart, the price of ADA is looking bearish, as it is near the local support.
Related
If the breakout of the $0.8931 level happens, the decline is likely to continue to the $0.88-$0.89 area.
On the bigger time frame, bulls have failed to maintain yesterday’s upward move. If the situation does not change by the end of the day, sellers may again seize the initiative, which may lead to a drop to the $0.85 zone.
From the midterm point of view, the picture is also rather more bearish than bullish. If the weekly bar closes around the current prices or below them, traders may witness a test of the $0.8173 level shortly.
ADA is trading at $0.8961 at press time.
About the author
Denys Serhiichuk
With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and makes predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing, ATB Coin, and others, can be contacted at [email protected].
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