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ADA/USD Range-bounds after touching $0.319 Resistance

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The Cardano price prediction shows that ADA failed to cross above the 21-day moving average as the coin ranges.

Cardano Prediction Statistics Data:

  • Cardano price now – $0.311
  • Cardano market cap – $10.6 billion
  • Cardano circulating supply – 34.4 billion
  • Cardano total supply – 35.1 billion
  • Cardano Coinmarketcap ranking – #9

ADA/USD Market

Key Levels:

Resistance levels: $0.400, $0.450, $0.500

Support levels: $0.250, $0.200, $0.150

ADA/USD remains below the 9-day and 21-day moving averages after touching the daily high of $0.319, which is now subject to the price actions above the 9-day moving average. However, as the bears move to step back into the market, the Cardano bulls are trying to push the coin to the north.

Cardano Price Prediction: Is ADA/USD Ready for the Upside?

According to the daily chart, the Cardano price is likely to face the north as the coin moves to cross above the 9-day and 21-day moving averages. However, a bullish cross above this barrier is needed to correct the immediate sideways movement and push the coin to the upside. Once it is out of the way, the upside is likely to gain traction with the next focus on $0.400, $0.450, and $0.500 resistance levels.

On the downside, if the Cardano price crosses below the opening price at $0.309, the coin could touch the nearest support at $0.300. Once this support is broken, the sell-off could gain traction with a cross below the lower boundary of the channel. However, the downside pressure may increase and the next supports could be located at $0.250, $0.200, and $0.150 while the technical indicator Relative Strength Index (14) moves to cross above the 40-level.

Against Bitcoin, the Cardano price is following a downward trend according to the daily chart, the technical indicator Relative Strength Index (14) is also showing that the coin is facing the south. Although the market price is unstable as it hovers at 1853 SAT. Meanwhile, a low swing could push the coin below the lower boundary of the channel to hit the support level of 1500 SAT and below.

ADABTC – Daily Chart

On the contrary, a rebound may occur if the buyers could defend the current level of 1853 SAT and push it above the 9-day and 21-day moving averages, crossing above the upper boundary of the channel may hit the potential resistance level of 2400 SAT and above.

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See the latest Cardano price prediction for December on CoinCodex.


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