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ADA and SOL Price Analysis for December 4

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Mon, 4/12/2023 - 18:00
ADA and SOL Price Analysis for December 4
Cover image via www.tradingview.com

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The new week has started with a continued rise of most cryptocurrencies; however, there are some exceptions to the rule.

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Top coins by CoinStats

ADA/USD

The price of Cardano (ADA) has increased by almost 2% since yesterday.

Image by TradingView

On the daily time frame, the rate of ADA has made a false breakout of the resistance of $0.4095. If the bar closes far from that mark, bears may seize the initiative, which can lead to a correction to the $0.39 area.

ADA is trading at $0.4004 at press time.

SOL/USD

Meanwhile, the price of Solana (SOL) has dropped by 4.17%.

Image by TradingView

From the technical point of view, the rate of SOL has once again failed to fix above the $65 area. 

Related
DOGE Price Analysis for December 3

Until it happens, sellers remain more powerful than buyers, and there is a high possibility to see a drop to $60.

SOL is trading at $61.48 at press time.

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