Cardano

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   Dec 20, 2023 at 08:40 // Price
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   <div class="avatar" style="background-image:url(/upload/resize_cache/iblock/42a/60_60_1/42aa5ec847dba7f5a2bce5378ae70614.png)"></div> <span>Author<br>Coin Idol </span>
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 <p><strong>The price of Cardano (ADA) has remained below the $0.65 resistance level. Buyers tried twice to test the recent high but were beaten back.</strong></p>
 <h2 style="text-align: justify;" id="long-term-forecast-for-the-cardano-price-bullish">Long-term forecast for the Cardano price: bullish</h2>
 <p style="text-align: justify;">The cryptocurrency has pulled back above the 21-day SMA several times. On December 18, Cardano hit a low of $0.54 as bulls reacted to the declines. At the time of writing, ADA/USD is trading at $0.58.</p>
 <p style="text-align: justify;">The cryptocurrency is currently trading in a price range of $0.52 to $0.65. The price action has been limited by the presence of doji candlesticks. On the downside, the bulls have consistently held the current support level of $0.52. The price of the cryptocurrency remained range-bound due to an indecisive small-bodied candlestick known as a doji. The altcoin is trading in the middle of its price range at $0.58.</p>
 <h2 style="text-align: justify;" id="cardano-indicator-analysis">Cardano indicator analysis</h2>
 <p style="text-align: justify;">The price bars are above the moving average lines and are rising upwards. The support line is the 21-day SMA. The price of the cryptocurrency is consolidating above the support level of $0.56.</p>
 <p style="text-align: justify;">The moving average lines on the 4-hour chart are sloping horizontally due to the sideways trend.</p>
 <h3 style="text-align: justify;" id="technical-indicators">Technical indicators</h3>
 <p style="text-align: justify;"><b>Key resistance zones: $0.50, $0.55, $0.60 </b></p> <b> </b>
 <p style="text-align: justify;"><b> Key support zones: $0.30, $0.25, $0.20</b></p>
 <p style="text-align: justify;"><b><img width="1024" alt="ADAUSD_(Daily Chart) – DEC.20.jpg" src="https://cdn.thebittimes.com/images/2023/12/20/b72eb849f429e28cb7bac99e9211bd53.webp" height="551" title="ADAUSD_(Daily Chart) – DEC.20, 2023"><br> </b></p>
 <h2 style="text-align: justify;" id="what-is-the-next-move-for-cardano">What is the next move for Cardano?</h2>
 <p style="text-align: justify;">The ADA/USD pair is currently trading sideways due to the end of the upswing on December 9. The price of the altcoin is hovering between $0.52 and $0.65. The cryptocurrency can continue to rise as long as it trades above the moving average lines. The altcoin will reach a high of $0.80.</p>
 <p style="text-align: justify;"><img width="1024" alt="ADAUSD_(4-Hour Chart) – DEC.20.jpg" src="https://cdn.thebittimes.com/images/2023/12/20/c20e9cc776725784a4b21dc39894ff3b.webp" height="551" title="ADAUSD_(4-Hour Chart) – DEC.20, 2023"><br></p>
 <p style="text-align: justify;"><i><span style="color: #959595;">Disclaimer. This <a rel="noopener noreferrer nofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a> and forecast are the personal opinions of the author and are not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by CoinIdol.com. Readers should do their research before investing in funds.</span></i></p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/cardano-price-jumps-to-a-high-of-0-80-tbt74272.html">https://thebittimes.com/cardano-price-jumps-to-a-high-of-0-80-tbt74272.html</a></p>

Cardano Price Jumps To A High Of $0.80

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