Cardano price prediction for today, December 15 – ADA Technical Analysis

Cardano price predictions have added a massive 10.15% rise, and at the time of writing, it is trading at the $14.7 resistance level.

Cardano prediction statistical data:

• Current Cardano price – $0.63
• Cardano market cap – $23.2 billion
• Cardano circulating supply – 35.3 million
• Cardano total supply – 36.4 million
• Cardano CoinMarketCap Ranking – 8th

ADA/USD Market

Main level:

Resistance levels: $0.75, $0.80, $0.85

Support levels: $0.45, $0.40, $0.35

Over the past 24 hours, ADA/USD has shown a noticeable bullish trend, breaking above the $0.60 resistance level. Surprisingly, Cardano price continued its upward trend for two consecutive days. Currently, ADA/USD stands out as one of the most promising coins on the market. It is likely that the $0.70 level will be reached in the next few days, marking the next resistance level.

Cardano Price Prediction: Cardano (ADA) is on the rise.

As can be seen from the daily chart, Cardano price is trading above the 9-day and 21-day moving averages within the channel. On the other hand, if the price breaks through the channel upper limit and closes above it, ADA/USD may continue its upward trend and reach the resistance levels of $0.75, $0.80, and $0.85.

Conversely, if the market price fails to cross the channel, the bears tend to bounce back into the market, which could cause the market price to reach the nearest support levels of $0.45, $0.40, and $0.35, respectively. . Technically, the 9-day moving average is hovering above the 21-day moving average, suggesting further bullish signals.

ADA/BTC begins upward movement

Compared to Bitcoin, Cardano price is on the rise as the coin aims to cross the upper boundary of the channel. Meanwhile, the recent rise could allow the coin to generate further gains in the market, which is a promising sign for buyers.

On the other hand, if the bears fall below the 9-day and 21-day moving averages, important support could be located below 1200 SAT. Meanwhile, the nearest resistance level is now above the channel of 1500 SAT, while further resistance could be located above 1715 SAT. Nonetheless, the 9-day moving average remains above the 21-day moving average, which is a promising sign for the bulls as the upward momentum is on the bullish side.

Cardano Alternatives

At the time of writing, traders can see that Cardano price is likely to establish a more bullish trend if it breaks above the channel, which is noticeable as the 9-day moving average remains above the 21-day moving average. Looking at the daily chart, the market is bouncing back from $0.54, below the moving average, but a bearish move below this barrier could lead to a serious downtrend for the coin.

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