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Cardano ADA Price: Falls to $0.0327

Cardano ADA Price Analysis Dec

In comparison to the bullish rise of the 18th of December, the Cardano ADA price traced its path downwards as it succumbed to the bears. 

Cardano ADA Price 1-Day Analysis – 19th December (ADA/USD)

Cardano ADA Price Analysis Dec 19 Chart 1

Cardano ADA Price Chart by Trading View

As per the price charts provided, the ADA/USD pair sketched pathways sloping downwards. The price fell over its support at two instances, and following these falls, more lows ensued.

The price initiated its route at the $0.0340 mark, which remained to be the highest value for the day. The declination followed from this point onwards and continued till the ADA/USD pair had terminated its 24-hour run. It fell to its support of $0.0333 at 09:10 GMT and its support of $0.0336 at 15:10 GMT. From this point on, the price did surge minimally, but it was overrun by the bearish effect resulting in the close at the $0.0327 mark.

Technical Indicators

Cardano ADA Price Analysis Dec 19 Chart 2

Cardano ADA Price Chart by Trading View

As per the full-featured chart of the ADA/USD trading pair, the price deviated by a large extent in comparison to its moving averages. Thus, the divergence was significant with the 50-Day Simple Moving Average closing at the $0.0336 mark and the 20-Day Exponential Moving Average closing at the $0.0333 mark. These deviated from the price by 2.7 percent and 1.8 percent.

There were no instances of oversold or overbought shares as displayed by the Relative Strength Index. The RSI eventually closed at the 32.10 mark with the volume closing at the rate of 5000.

Featured Image Background by Pesce Huang

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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