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Cardano (ADA) Price Analysis for December 22

Thu, 12/22/2022 - 15:27
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Denys Serhiichuk
Does Cardano (ADA) have chances for reversal soon?
Cardano (ADA) Price Analysis for December 22
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Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

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The cryptocurrency market is trading sideways as some coins are trading in the red zone, while others are in the green.

Top 10 coins by CoinMarketCap


The price of Cardano (ADA) has risen by 0.15% over the last 24 hours.

ADA/USD chart by TradingView

On the hourly chart, the rate of Cardano (ADA) is trading within a narrow channel, between the support at $0.2516 and the resistance at $0.2536.

DOGE Price Analysis for December 21

At the moment, the price is on its way to the bottom line, which means that there are high chances to see a drop to the $0.25 zone soon.

ADA/USD chart by TradingView

On the daily time frame, the situation is worse as bulls are not ready for growth after the false breakout of the support level at $0.2488. If the candle closes near it, one can expect a sharp drop to the $0.2460 mark.

ADA/BTC chart by Trading View

 A similar situation can be seen on the chart against Bitcoin (BTC). The price has broken the 0.000015 mark, which means that the rate has not found the local bottom yet. Respectively, the decline may continue to the recently formed support at 0.00001478.

ADA is trading at $0.2495 at press time.

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About the author

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

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