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Cardano (ADA) Price Prediction for December 23
As we approach the end of the year, it’s essential to take a closer look at the current market trends and potential price movements for top cryptocurrencies. In this article, we’ll provide you with an update on Cardano’s (ADA) price prediction for December 23.
According to Denys Serhiichuk, a seasoned trader with over 5 years of experience in trading and technical analysis, ADA is currently facing bearish momentum. In his latest blog post, he notes that if the breakout of the $0.8931 level happens, the decline is likely to continue to the $0.88-$0.89 area.
On a larger time frame, it appears that bulls have failed to maintain yesterday’s upward move. If this situation does not change by the end of the day, sellers may again take control, potentially leading to a drop to the $0.85 zone.
From a midterm perspective, the picture is also more bearish than bullish. If the weekly bar closes around the current prices or below them, we might see a test of the $0.8173 level soon.
As of press time, ADA is trading at $0.8961.
It’s essential to remember that cryptocurrency markets can be highly volatile and unpredictable. It’s crucial to stay up-to-date with market trends and adjust your investment strategy accordingly.
Will you buy or sell Cardano (ADA) based on this prediction?
Source: u.today
