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