CandleFocus Cardano (ADA) Price Prediction for December 3
2024-12-03
Author: Content Editor
The cryptocurrency market has recovered from a recent correction, with many coins returning to positive territory. Cardano (ADA) has seen significant gains, surging by 16.54% today. However, despite the sharp rise, the price of ADA is expected to decline after a failed breakout of the local resistance level. If the daily bar closes near the support level, there is a possibility of further drop to the $1.15-$1.20 zone. Traders should also pay attention to the candle's closure in relation to the $1.2424 level, as a close below it with a long wick could lead to selling pressure. Regarding the midterm outlook, it is advised to wait until the weekly candle closes. If it closes near or above the $1.30 level, growth may continue towards the $1.40-$1.50 range by the end of the month. Currently, ADA is trading at $1.2557.
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