Cardano (ADA) Price Prediction for December 3

Most of the coins have come back to the green zone after a correction, according to CoinMarketCap.

ADA/USD

Cardano (ADA) is one of the biggest gainers today, rocketing by 16.54%.

Despite today’s sharp rise, the price of ADA is going down after a false breakout of the local resistance of $1.3081.

If the daily bar closes near the support level, there is a chance to see an ongoing drop to the $1.15-$1.20 zone.

On the bigger time frame, one should pay attention to the candle’s closure in terms of the $1.2424 level. If the bar closes below it and with a long wick, sellers may seize the initiative.

From the midterm point of view, one should wait until the weekly candle closes. If it happens near the $1.30 mark and above it, growth may continue to the $1.40-$1.50 range by the end of the month.

ADA is trading at $1.2557 at press time.

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