Cardano’s price declined towards $0.1300 before correcting higher, similar to bitcoin. ADA must clear $0.1500 to start a strong increase.
Cardano’s price declined heavily towards $0.1300 before correcting higher, similar to bitcoin. ADA must clear the $0.1500 resistance and the 100 SMA (H4) to start a strong increase.
ADA remained well bid above the $0.1300 level and corrected higher against the US dollar. The price is struggling to clear the $0.1500 resistance and the 100 simple moving average (4-hours). There is a major bearish trend line forming with resistance near $0.1500 on the 4-hours chart of the ADA/USD pair (data source from Bitfinex). The pair is likely to start a fresh rally if there is a clear break above $0.1500 and $0.1540. Cardano (ADA) is Showing Positive Signs In the past few days, cardano’s price corrected gains from well above the $0.1500 level. ADA price broke the $0.1450 support level and settled below the 100 simple moving average (4-hours).
The decline gained pace below the $0.1400 level, but the bulls were able to defend the key $0.1300 support zone. A low is formed near $0.1305 and the price is currently rising. There was a break above the $0.1350 and $0.1400 resistance levels.
ADA price even climbed above the 23.6% Fib retracement level of the recent decline from the $0.1688 swing high to $0.1305 swing low. However, the price is struggling to clear the $0.1500 resistance and the 100 simple moving average (4-hours).
Cardano (ADA) Price
Source: ADAUSD on TradingView.com There is also a major bearish trend line forming with resistance near $0.1500 on the 4-hours chart of the ADA/USD pair. The trend line is close to the 50% Fib retracement level of the recent decline from the $0.1688 swing high to $0.1305 swing low.
A successful break above the trend line and a follow up move above the 100 simple moving average (4-hours) could open the doors for a fresh rally. The next major resistance is near the $0.1780 level.
Fresh Decline? If cardano’s price fails to clear the trend line resistance and $0.1500, there is a risk of a fresh decline. An initial support is near the $0.1400 level.
The main support is now forming near the $0.1300 level. Any more losses could lead the price towards the breakdown zone and a key buy area at $0.1200 in the near term.
4-hours MACD – The MACD for ADA/USD is struggling to gain pace in the bullish zone.
4-hours RSI (Relative Strength Index) – The RSI for ADA/USD is just below the 50 level.
Major Support Levels – $0.1400, $0.1300 and $0.1200.
Major Resistance Levels – $0.1500, $0.1540 and $0.1700.
Cardano price has broken all time high, and with this bullish ada breakout will likely come a lot of volatility, both to the upside and the downside. ADA price has hit a short term target and resistance is anticipated now. Where is support for a potential retrace? Where does ADA price go from here now that Cardano has seen a breakout?
STARTLING TRUTH ABOUT CARDANO! (ADA Holders Must PREPARE). Cardano price dipped 60%+ and has consolidated for around one month now. Outside of the zoomed in charts are ADA fundamentals that show how bullish of a cryptocurrency ADA really is. So much is happening across the crypto markets, but no crypto has introduced some of the technology that ADA has built. We discuss all of this alongside zoomed out and zoomed in ADA price.
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