Cardano price remains trending downwards while crypto markets rebound - Aliens: AI Crypto News & Markets Updates

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Cardano price remains trending downwards while crypto markets rebound

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FX Street

Tue, Dec 07, 2021

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Aliens TLDR

Now ADA price sees bulls returning to the scene as Cardano trades at an attractive discount.

ADA would be expected to see quite some inflows from investors and buyers at the current price who may be looking to pick up some interesting cryptocurrencies at a discount.

ADA price will see investors start to buy back in once bulls can break above $1.67 around the intersection from the descending black trend line and a historical level that has been well respected since June.

The two false breakouts on December 2 and 3 will make investors nervous, and would only see them starting to buy in when the price can consolidate above that level.

ADA/USD daily chart ADA bulls will, therefore, be closely watching for any breaks and the behavior of price action around $1.67.

The author will not be held responsible for information that is found at the end of links posted on this page.

The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

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