The Cardano price prediction adds a tremendous 10.15% gain, and at the time of writing, it is trading around the $14.7 resistance level.

Cardano Prediction Statistics Data:

• Cardano price now – $0.63
• Cardano market cap – $23.2 billion
• Cardano circulating supply – 35.3 million
• Cardano total supply – 36.4 million
• Cardano CoinMarketCap ranking – #8

ADA/USD Market

Key Levels:

Resistance levels: $0.75, $0.80, $0.85

Support levels: $0.45, $0.40, $0.35

Over the past 24 hours, ADA/USD has demonstrated a notable bullish trend, surpassing the resistance level at $0.60. Impressively, the Cardano price has sustained two consecutive days of upward movement. As of the current moment, ADA/USD stands out as one of the most promising coins in the market. There is a strong likelihood that it will reach the $0.70 level in the upcoming days, marking its next resistance level.

Cardano Price Prediction: Cardano (ADA) Faces the Upside

As the daily chart reveals, the Cardano price is trading above the 9-day and 21-day moving averages within the channel. On the upside, if the price breaks above the upper boundary of the channel and closes above it, ADA/USD may likely continue its uptrend and could reach the resistance levels of $0.75, $0.80, and $0.85.

On the contrary, if the market price fails to cross above the channel, there is a tendency for the bears to return to the market, and this may likely cause the market price to hit the nearest support levels at $0.45, $0.40, and $0.35 respectively. Technically, the 9-day moving average is hovering above the 21-day moving average, suggesting additional bullish signals.

ADA/BTC Begins the Upward Movement

Against Bitcoin, the Cardano price is facing the upside as the coin aims to cross above the upper boundary of the channel. Meanwhile, the recent rise could allow the coin to create additional gains in the market, which is a promising sign for buyers.

On the other hand, if the bears break below the 9-day and 21-day moving averages, the critical support could be located at 1200 SAT and below. Meanwhile, the nearest resistance level now lies above the channel at 1500 SAT, any further resistance could be located at 1715 SAT and above. Nonetheless, the 9-day MA remains above the 21-day MA which is a promising sign for the bulls as the momentum is on their side.

Cardano Alternatives

At the time of writing, traders could see that the Cardano price may likely create more bullish trends once it crosses above the channel and this is noticeable as the 9-day moving average remains above the 21-day moving average. Looking at the daily chart, the market rebounds from the low of $0.54 above the moving averages but any bearish movement below this barrier could lead the coin to a serious downtrend.

However, Bitcoin Minetrix (BTCMTX) goes beyond the simplicity of mining Bitcoin on Ethereum. Users can initiate the process with zero technical expertise, eliminating the need for upfront costs or hardware maintenance. In contrast, Cardano stands as one of the market’s robust coins, currently holding the 8th position with a market cap of $23.2 billion. Despite this, $BTCMTX is gaining significant attention for its innovative approach, evident in the impressive almost $5.3 million raised during the presale.

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• Source: https://insidebitcoins.com/news/cardano-price-prediction-for-today-december-15-ada-technical-analysis