Cardano (ADAUSD) is controlled by a bearish corrective trend - Analysis - 12-30-2024

The price of the Cardano/USD (ADAUSD) currency stabilized at a decline during its recent trading at the moment levels, amid the dominance of a bearish corrective wave in the short term, with the continuation of negative pressure due to its trading below its simple moving average for the previous 50-day period, and in addition to the above, we notice the occurrence of negative signals in the relative strength indicators, despite their stability in areas of severe saturation with selling operations.

Therefore, we expect the currency price to decline during its upcoming trading, as long as the resistance level of $1.039 remains stable, targeting the pivotal support level of $0.762.

The expected direction for the upcoming trading: Bearish $ADA