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Summary
• ADA/USDT tested key support near $0.3790 before rebounding, forming a bullish engulfing pattern.
• RSI suggests moderate momentum but not overbought conditions, while volume surged during the bounce.
• Price remains above the 20-period MA on 5-minute data, hinting at short-term bullish bias.
• Volatility expanded slightly during the session as price moved into a wider Bollinger Band range.
• Recent 61.8% Fibonacci retracement level aligns with consolidation near $0.3825, offering near-term resistance.
Cardano/Tether (ADAUSDT) opened at $0.3841, reached a high of $0.3907, and settled at $0.3877 by 12:00 ET on December 16. The pair traded within a 24-hour range of $0.3773–$0.3907 with a total volume of 63,244,326.8 and turnover of approximately $23.6 million.
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Looking ahead, ADA/USDT appears to have enough momentum to challenge key resistance but may face hurdles near the 0.3900 level if the rally lacks follow-through volume. Investors should remain cautious of potential pullbacks if the short-term bullish indicators lose steam.
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