Cardano

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   Dec 27, 2023 at 10:21 // 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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 </div> <img class="page-news__main-pic lazy-load-detail-picture" src="https://coinidol.comdata:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAAAEAAAABCAQAAAC1HAwCAAAAC0lEQVR42mNkYAAAAAYAAjCB0C8AAAAASUVORK5CYII=" data-lazy-src="https://coinidol.com/upload/resize_cache/iblock/97d/900_900_1/0gqbkomb2svfguwccr9ht5j50x3t82sq.jpg" width="900" height="563" alt="" title="">
 <p><strong>The price of Cardano (ADA) has been moving sideways since the end of the uptrend on December 13.</strong></p>
 <h2 id="p-style-text-align-justify-long-term-forecast-for-the-cardano-price-bullish-p"><p style="text-align: justify;">Long-term forecast for the Cardano price: bullish</p></h2>
 <p style="text-align: justify;">The cryptocurrency reached a high of $0.67 before being pushed back. Cardano was unable to break through the $0.70 resistance level. The altcoin is now trading above the 21-day SMA but below the previous high of $0.65. The barrier at $0.65 has further slowed down the upward movement. The altcoin is now trading between $0.57 and $0.66. The price movement has remained stable due to the doji candlesticks.&nbsp;</p>
 <p style="text-align: justify;">The price of the cryptocurrency is currently retesting the 21-day SMA. On the downside, selling pressure will increase again if the bears break above the 21-day SMA and the negative momentum continues. Cardano will fall above the 50-day simple moving average (SMA) or the low at $0.46.</p>
 <h2 id="p-style-text-align-justify-a-rel-noopener-noreferrer-nofollow-title-category-analysis-href-https-thebittimes-com-analysis-html-analysis-a-of-cardano-indicators-p"><p style="text-align: justify;"><a rel="noopener noreferrer nofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a> of Cardano indicators</p></h2>
 <p style="text-align: justify;">Cardano has remained solid as the bulls defend the 21-day SMA support. The cryptocurrency will fall if the bears break below the 21-day SMA. The moving average lines on the 4-hour chart are sloping horizontally, indicating a sideways trend. Doji candlesticks dominate the price action and limit the price movement.</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>
 <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_(4-Hour Chart) – DEC.27.jpg" src="https://cdn.thebittimes.com/images/2023/12/27/58a2cb1ae3ff3f58d2d1d5ba44bc33cf.webp" height="551" title="ADAUSD_(4-Hour Chart) – DEC.27, 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;">Cardano is currently trading in the bullish trend zone, with buyers keeping the price above the 21-day simple moving average. Price action is limited to the $0.58 to $0.65 range. Cardano will resume its uptrend if buyers break above the $0.65 and $0.70 resistance levels. The current trend will be halted if the bears break below the 21-day SMA.<br> <br></p>
 <p>On December 18, Cardano hit a low of $0.54 as bulls reacted to the declines. And on December 20, ADA/USD is trading at $0.58, as reported by Coinidol.com.&nbsp;</p>
 <p style="text-align: justify;"><img width="1024" alt="ADAUSD_(4-Hour Chart) – DEC.27.jpg" src="https://cdn.thebittimes.com/images/2023/12/27/58a2cb1ae3ff3f58d2d1d5ba44bc33cf.webp" height="551" title="ADAUSD_(4-Hour Chart) – DEC.27, 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 the 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-remains-stable-and-holds-above-the-0-57-low-tbt74912.html">https://thebittimes.com/cardano-price-remains-stable-and-holds-above-the-0-57-low-tbt74912.html</a></p>

Cardano Price Remains Stable And Holds Above The $0.57 Low

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