Cardano

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 Cover image via <a href="https://u.today/" rel="noopener noreferrer nofollow">U.Today</a>
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Bears are not going to give up so easily, according to <a href="https://u.today/doge-shib-and-bonk-price-analysis-for-december-27" rel="noopener noreferrer nofollow">CoinStats</a>. <img data-entity-type="file" data-entity-uuid="c0becef3-2de7-4a1f-8911-9194baac2d79" src="https://u.today/sites/default/files/inline-images/top_3.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 price of Cardano (ADA) has gone up by 0.86% over the past 24 hours. <img data-entity-type="file" data-entity-uuid="92345efb-ed63-4460-8aa9-a5f0a7eb3bfd" src="https://u.today/sites/default/files/inline-images/ada1_98.png">Image by&nbsp;<a href="https://www.tradingview.com/symbols/ADAUSD" rel="noopener noreferrer nofollow">TradingView</a>
On the hourly chart, the rate of ADA might have set a local support of $0.6120. If the drop continues, there is a chance to see a test of the $0.60 area tomorrow. <img data-entity-type="file" data-entity-uuid="74fc3861-6df2-4fc8-8f51-490100186e3e" src="https://u.today/sites/default/files/inline-images/ada2_95.png">Image by&nbsp;<a href="https://www.tradingview.com/symbols/ADAUSD" rel="noopener noreferrer nofollow">TradingView</a>
On the bigger time frame, one should pay attention to the bar's closure. If it happens with no long wick, one can expect a further decline to $0.55. Such a scenario is relevant until the end of the week. <img data-entity-type="file" data-entity-uuid="9bc107ee-2218-426f-b1ef-9815a7773ba1" src="https://u.today/sites/default/files/inline-images/ada3_86.png">Image by&nbsp;<a href="https://www.tradingview.com/symbols/ADAUSD" rel="noopener noreferrer nofollow">TradingView</a>
A similar situation can be seen on the weekly chart. However, the rate is still far from the main levels.&nbsp;
If buyers lose the $0.55 zone, bears can get back in the game, which might lead to a test of the $0.5106 level.
ADA is trading at $0.6155 at press time.

Cardano (ADA) Price Analysis for December 28

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