Cardano value depreciates to $0.2662 after a bearish extension

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Cryptocurrency 1 hour ago (Dec 17, 2022 11:00AM ET)

Cardano value depreciates to $0.2662 after a bearish extension Cardano value depreciates to $0.2662 after a bearish extension

  • The price analysis shows a bearish trend.
  • Resistance for ADA is present at $0.2866.
  • Support is present at $0.2603 for the crypto pair.

The current Cardano price analysis suggests the price has been suppressed again from the bearish side, as a rejection from the upside has been reported for today. The price covers a range below $0.2866 due to the return of bearish pressure after a single day of bullish activity. The coin value recovered slightly during the previous trading session, but today the bears have interfered again, and the price has reached $0.2662. The current price level is also a support level set earlier by the bulls, which is currently being tested. Next, support for ADA is present below $0.2603.

The one-day chart for Cardano price analysis shows a bearish trend as the red candlestick has returned to the price chart. The past few days have proved crucial for the cryptocurrency, except for one day as a steep downward trend followed. There has been a recurring fall, as the price has stepped down into the lower price envelope at $0.2662. The current price value is lower than the moving average (MA) value, which is settled at $0.298.

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