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Cardano ADA Price: Fall to $0.0362

Cardano ADA Price Analysis Dec

Cardano ADA price remained above the $0.03605 threshold for most of the 11th of December and managed to close at a very slightly (0.27 percent) lower price when compared to the day prior

Cardano ADA Price Analysis – 11th December (ADA/USD)

Cardano ADA Price Analysis Dec 11 Chart 1

Cardano ADA Price Chart by Trading View

As shown on the graph displayed above, the Cardano price displayed a series of regressions and progressions as it moved across its price pathway. Over the next twenty-four hours after the opening at the $0.0363 value, the coin followed the path upwards to $0.0372 after which the decline led to the support zone over $0.0360.

It followed a similar pathway and fell below the aforementioned support zone to $0.0359 as it neared the close. The cryptocurrency eventually closed at the $0.0362 mark. 

Technical Indicators

Cardano ADA Price Analysis Dec 11 Chart 2

Cardano ADA Price Chart by Trading View

Continuing from the previous day, the altcoin‘s price remained deviated from the moving averages but neared these values to line up with the cost as the day eventually came to an end. This shows that the entire average has been pulled down by the bears.

The 50-Day Simple Moving Average (SMA) closed at $0.0367, whereas the 20-Day Exponential Moving Average (EMA) closed at $0.0365. The SMA was 1.3 percent higher than the closing price, whereas the EMA was 0.8 percent higher than the closing price. 

Featured Image Background by Jonny Clow

Aroosa Nadeem

Aroosa Nadeem

A media graduate and passionate media person Aroosa has a knack for digital media journalism and outreach. She has contributed content to different digital media publishers in a variety of areas including technology, health and finance.

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