As a seasoned cryptocurrency researcher with over a decade of experience, I’ve seen my fair share of market fluctuations. Today, looking at Cardano (ADA), I see a coin that’s showing signs of strength despite the overall downward trend.
The rates of most of the coins are falling today, according to CoinMarketCap.
ADA/USD
The price of Cardano (ADA) has declined by 6.04% over the last 24 hours.
Regardless of today’s decline, the hourly chart for ADA suggests a positive trend. Should the current resistance at approximately $0.9885 be breached, further growth towards the important $1 region and beyond is possible.
Looking at a larger time perspective, investors appear eager to re-enter the market following yesterday’s drop. If today’s trading session ends significantly away from $0.9580, there could be a potential rebound, leading to another test of the $1.05 region in the near future.
Looking ahead from where we stand right now, there isn’t enough time left before the bar closes to start making any predictions.
If the sellers’ force persists and the price approaches $0.90, traders might observe a potential challenge to the $0.8173 support level before the month ends.
ADA is trading at $0.9847 at press time.
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2024-12-19 15:53