Cardano Price Prediction For December 9

The post Cardano Price Prediction For December 9 appeared first on Coinpedia Fintech News

The current price action of ADA is still showing signs of consolidation, with no breakout to the upside yet. At the time of writing, ADA is trading slightly below the $1 mark and has drifted into the red zone. However, the coin has gained more than 12 percent in the last one week. 

Currently, there is support between $0.83 and $1.16, with the most relevant support levels being $0.93 and $0.83. A drop below $0.83 would shift towards a larger correction taking place. At the moment, the market is primarily showing a sideways consolidation, and this is being respected by the micro support levels we’ve outlined.

Key Levels to Watch

If ADA breaks below the $1.11 level, which is also a Fibonacci support level, it would make it more likely that the market is forming a larger wave. For now, ADA remains in a consolidation phase, and while the price action might seem a bit dull, it could soon break out of this sideways movement.

The most recent low of $1.16 from December 5th could be the key level to watch. Below that, the next support levels would be between $0.83 and $1.16, though it’s not guaranteed that ADA will dip all the way down to $0.83. Instead, if this assumption holds, the support may be found in the upper half of that range.

Next Target After a Breakout

The primary level to watch for an upside breakout is the trendline forming the triangle pattern. If ADA breaks above the $1.24–$1.25 range, this would signal a potential upward breakout. The next target after that would be the $1.42 level, with $1.72 as an important target. However, this scenario is contingent on whether the market confirms that we are indeed in a triangle pattern, as this is still not fully confirmed.

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