Analysis of Cardano's price
The long tail of the candle of #CardanoADA
€0.9548
from December 9 shows that bulls are trying to defend the 50% Fibonacci retracement level at $1.10.
Buyers will need to push the ADA/USDT pair above the resistance zone between $1.25 and $1.33 to signal the resumption of the uptrend. The pair could shoot up to $1.64, which is expected to act as strong resistance.
On the downside, sellers will need to sink the price below the 20-day EMA ($1.05) to gain an advantage. The pair could then plummet to $0.87. Such a deep drop could delay the start of the next stage of the uptrend.
