Cardano

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Bulls are trying to hold the gained initiative; however, <a href="https://u.today/binance-coin-bnb-price-analysis-for-december-6" rel="noopener noreferrer nofollow">some coins</a> have entered a correction phase already. <img data-entity-type="file" data-entity-uuid="1b5dd285-064c-4114-a059-ff3e75031ea6" src="https://u.today/sites/default/files/inline-images/top10_818.png">ADA chart by&nbsp;<a href="https://coinstats.app/coins/" rel="noopener noreferrer nofollow">CoinStats</a>
<h2 class="text-align-justify" id="ada-usd">ADA/USD</h2>
The rate of Cardano (ADA) has declined by 0.16% over the last 24 hours. <img data-entity-type="file" data-entity-uuid="4486bfa4-8662-4cce-8039-9842a3e8fb77" src="https://u.today/sites/default/files/inline-images/ada1_92.png">Image by&nbsp;<a href="https://www.tradingview.com/symbols/ADAUSD" rel="noopener noreferrer nofollow">TradingView</a>
On the hourly chart, the price of ADA might have found a local support level of $0.4312. If the daily bar closes far from this mark, one can expect a further upward move to $0.4450. <img data-entity-type="file" data-entity-uuid="9a388bbf-d0c8-424b-8687-18c4391cdd13" src="https://u.today/sites/default/files/inline-images/ada2_90.png">Image by&nbsp;<a href="https://www.tradingview.com/symbols/ADAUSD" rel="noopener noreferrer nofollow">TradingView</a>
On the bigger time frame, the rate of ADA has made a false breakout of yesterday's peak at $0.4550.&nbsp;
If the situation does not change by the end of the day, the decline may lead to the test of the $0.43 area soon. <img data-entity-type="file" data-entity-uuid="c91439a9-1d31-45cb-9076-e06914c29673" src="https://u.today/sites/default/files/inline-images/ada3_81.png">Image by&nbsp;<a href="https://www.tradingview.com/symbols/ADAUSD" rel="noopener noreferrer nofollow">TradingView</a>
On the weekly chart, the price has almost reached the resistance of $0.4633. If the bar closes near that mark with no long wick, there is a possibility to see a breakout, followed by a further rise to $0.50.
ADA is trading at $0.4377 at press time.

Cardano (ADA) Price Analysis for December 7

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