Main navigation

Cardano (ADA) Price Analysis for December 22

Advertisement
Thu, 22/12/2022 - 15:27
Cardano (ADA) Price Analysis for December 22
Cover image via www.tradingview.com

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

Read U.TODAY on
Google News

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

ADA/USD

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.

Related

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.

Related articles

Advertisement
TopCryptoNewsinYourMailbox
TopCryptoNewsinYourMailbox
Advertisement
Advertisement

Recommended articles

Latest Press Releases

Our social media
There's a lot to see there, too

Popular articles

Advertisement
AD