Cardano Price Can’t Hold Back Against Selling Pressure

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Cardano Price is succumbing to selling pressure. The token price is fighting back as the Fed keeps tightening its policy. More inflation before this year runs out could put the digital asset in an awful position.

Investors are warned against clinging to hope for 2023. Jim Crammer, an American TV personality, advises investors to sell off their shares in digital assets, saying a collapse is inevitable in 2023.

Cardano Key Levels to Watch – December 8

Cardano’s price is tripping lower, and selling pressure will increase in the coming days. The sellers have been driving the price lower for a couple of months.

Cardano Price Can't Hold Back Against Selling Pressure

The bearish mark may trade below the $3,000 pivot level in the coming days. If the selling pressure continues, the token price may fall as the year comes to an end.

The Bollinger Band indicator is compressing at this point. Traders should be ready for a price breakout in the coming days.

ADA Key Levels

Resistance Levels: $0.9110, $0.6410, $.5510
Support Levels: $0.3880, $0.3220, $0.3000

Total Market Capitalization: $34B
Cardano Market Capitalization: $13B
Cardano Volume: $1.8B
Market Rank: #9

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Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.