Cardano has a long-term bullish outlook after setting key highs and lows. Still, the short-term momentum is declining and a retest of the $ 0.149 support seems likely. Monero dropped below a support level and could drop to $ 140 before the bulls step in.

 

Cardano (ADA) price analysis

The upper and lower limits of the ADA range are $ 0.173 and $ 0.13 respectively. When the price entered this range in late December, it formed a high and low, then saw the price sweep both highs and lows in the first two weeks of December.

The short-term momentum for ADA is bearish while the price is above the mid-level, which coincides with the $ 0.149 horizontal support level.

The inability of the bears to push the price below the support is seen as a bullish development. It is possible to retest the mid-level in the coming hours, followed by a move towards the $ 0.17 resistance.

OBV showed increased sales volume in early December, but there was an increase in purchasing volume last week.

On the other hand, Charles Hoskinson announced that Cardano Developers will assume the responsibility of their Oracle in 2021.

Monero (XMR) price analysis

Like most altcoins on the market, XMR has shown strong bearish pressure in the past few hours. The RSI showed 38, and the price recently lost the $ 149 support level.

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A drop into the liquidity pocket highlighted in the $ 139 region is likely for XMR. Given its strong performance in recent weeks, the possibility of further declines is unlikely. So this region can be used to construct long positions, according to analysts.

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