Join Our Telegram channel to stay up to date on breaking news coverage
According to the daily chart, the Cardano price prediction slides below the moving averages as the coin trades below the $0.80 level.
Cardano Prediction Statistics Data:
- Cardano price now – $0.31
- Cardano market cap – $10.9 billion
- Cardano circulating supply – 34.4 billion
- Cardano total supply – 35.2 billion
- Cardano Coinmarketcap ranking – #9
ADA/USD Market
Key Levels:
Resistance levels: $0.42, $0.44, $0.46
Support levels: $0.24, $0.22, $0.20
ADA/USD is heading towards the east. It is likely to cross below the 9-day and 21-day moving averages. Nonetheless, as the bears step back into the market, the Cardano price is likely to lose momentum below the moving averages along with a potential price surge.
Cardano Price Prediction: ADA May Follow the Downtrend
The Cardano price is moving sideways as the coin the bears move to return into the market. Meanwhile, a positive movement towards the upper boundary of the channel is needed to correct the immediate bearish pressure and take the coin back on the recovery trend. Once this is out of the way, the upside is likely to gain traction with the next focus at the resistance levels of $0.42, $0.44, and $0.46.
On the downside, the support level of $0.28 is likely to be broken, once this is done, the sell-off could gain traction with the next focus at the nearest support level of $0.30. Therefore, if these levels are broken, the downside pressure may increase and the next support is created by the critical supports at $0.24, $0.22, and $0.20 as the technical indicator Relative Strength Index (14) may cross below the 40-level.
Against Bitcoin, the Cardano price is following a downward trend as revealed by the technical indicator, the signal of the Relative Strength Index (14) is seen sliding below the 40-level. Meanwhile, a low swing could push the coin to the support level of 1600 SAT and below.
On the other hand, a rebound may occur if the buyers could defend the 1800 SAT and push it above the upper boundary of the channel which could help the coin to hit the potential resistance level of 2200 SAT and above.
Meanwhile, those who invest in Impact Token (IMPT) will be able to claim them as of December 12, 2022. In order to do this, they will connect the wallets they used to buy the tokens initially, and the token will be dropped into their wallets. Also Uniswap, LBank, and Changelly Pro will list IMPT for trading, once the presale has been concluded. It is great to be green, and close to $14.5 million has already been raised for this environmentally friendly project.
It is now easy for all traders and investors to stay in the loop with all the events affecting cryptocurrencies; thanks to our groundbreaking Dash 2 Trade platform. You will not miss any important events on the cryptocurrency market, because the platform helps you stay on top of your trading game. D2T presale dashboard is launching soon as the product dev is ahead of schedule. In the ongoing presale, almost $8.5 million has been raised.
Related
Dash 2 Trade – High Potential Presale
- Active Presale Live Now – dash2trade.com
- Native Token of Crypto Signals Ecosystem
- KYC Verified & Audited
Join Our Telegram channel to stay up to date on breaking news coverage
Source: https://insidebitcoins.com/news/cardano-price-prediction-for-today-december-6-ada-usd-price-drops-below-0-32