CandleFocus ADA Needs to Maintain This Level to Avoid Drop to $0.5: Cardano Price Analysis
2024-12-26
Author: Content Editor
Cardano (ADA), a cryptocurrency that closely tracks Bitcoin in terms of price movement, is currently experiencing a pullback. The asset started a rally in November but has been rejected multiple times at the $1.2 level. It has since corrected to the $0.75 support level, and if this level holds, ADA could climb above $1.2. However, a breakdown could result in a drop towards the 200-day moving average at around $0.5. On the ADA/BTC chart, Cardano has outperformed Bitcoin in recent times but is depreciating against BTC overall. With the 1,000 SAT support level potentially being broken, the ADA/BTC chart may decline towards the 200-day moving average at around 700 SAT. Therefore, it is likely that Bitcoin will outperform ADA in the coming weeks.
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