20.12.202409:58 Forex Analysis & Reviews: Technical Analysis of Intraday Price Movement of Cardano Cryptocurrency, Friday December 20, 2024.

Simply by looking at the 4-hour chart of the Cardano cryptocurrency which is moving harmoniously in the Bearish Pitchfork channel and below the SMA (100) which has a decreasing slope also gives an indication that Cardano is in a weakening condition where the level of 0.77992 will try to be broken and close below it if successful then Cardano will continue its weakening to the level of 0.59182 as its main target and if the momentum and volatility support then 0.41957 will be the next target to be targeted but with the appearance of deviations between the Cardano price movement and the Stochastic Oscillator indicator then there is a possibility of a momentary strengthening which has the potential to test the level of 1.06704 but as long as the strengthening cannot broken and close above the level of 1.13192 then the bias of Cardano remains Bearish.

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