Cardano Price Analysis
The selling of Cardano
0.9356€
accelerated after the price fell below the short-term support of $1.11 on December 9.
The ADA/USDT pair bounced off $0.91 on December 10, but the relief rally is expected to face selling at the 61.8% Fibonacci retracement level at $1.16. If the price turns down sharply from $1.16 and breaks below the 20-day EMA, it will signal the formation of a range.
If the bulls manage to push the price above $1.16, the chances of a rally towards $1.24 and then towards $1.33 will increase. On the contrary, the bears will regain control if they sink the pair below the support at $0.90.#Cardano
