Cardano

Cryptocurrency

Resistance

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/key-levels-to-watch-for-cardano-ada-price-action/" data-wpel-link="internal">Key Levels to Watch for Cardano (ADA) Price Action</a><br></p>
<p style="text-align: justify">The cryptocurrency <strong>Cardano</strong> (<a href="https://en.coin-turk.com/anticipating-the-spot-bitcoin-etf-approval-ada-coins-current-status-and-forecast/" data-wpel-link="internal">ADA</a>) seems to be correcting its gains from the resistance area of $0.642. However, the current picture emphasizes the need to hold above critical support levels. Looking at the ADA/USD pair’s price chart, a series of significant support and resistance levels become apparent.</p> 
<h2 style="text-align: justify" id="which-levels-should-be-monitored-for-cardano-ada">Which Levels Should Be Monitored for Cardano (ADA)?</h2> 
<p style="text-align: justify"><strong>Cryptocurrency</strong> ADA’s price has recently shown some signs of decline by falling below the $0.600 level. However, if the ADA price remains above the $0.5550 support area, there is still potential for a new rally.</p> 
<p style="text-align: justify"><a href="https://coin-turk.com/ethereum-yorumlari-eth-usd-teknik-analizi-18-11-2020" data-wpel-link="internal">Technical analysis</a> indicates a break below the $0.610 support level and a significant uptrend line. This level could signal that the current correction could deepen. However, if the bulls continue to stay active above the $0.570 support, the pair may attempt a new increase.</p> 
<h2 style="text-align: justify" id="resistance-and-support-points">Resistance and Support Points</h2> 
<p style="text-align: justify">The cryptocurrency Cardano’s price has recently formed a base above the $0.520 level. This situation indicates that the bulls are trying to regain control. However, attempts to break above the $0.600 resistance area have shown that the bears maintain a solid resistance.</p> 
<p style="text-align: justify">Currently, the $0.600 level stands out as a critical resistance point. If a successful breakout occurs above this level, it could be the start of a strong rally for ADA’s price. However, a close below the $0.600 level could indicate an increase in downward pressure.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="alignnone wp-image-318489 size-full" src="https://coin-turk.com/wp-content/uploads/2024/02/cardano-ada-coin-turk-com-.png" alt="" width="1564" height="836"></p> 
<p style="text-align: justify">When examining technical indicators, the 4-hour MACD is losing momentum in the bullish zone, and the RSI is currently below the 50 level. These indicators suggest that uncertainty may continue in the short term.</p> 
<p style="text-align: justify">With all this in mind, the cryptocurrency Cardano’s price is currently at a critical juncture. A strong hold by the bulls above the $0.600 level could initiate a new upward wave. However, in the event of a downward break, it is important to pay attention to significant support levels such as $0.570 and $0.5550.</p> 
<p>The cryptocurrency Cardano (<strong>ADA</strong>) investors have been long awaiting the march towards $3 from the previous bull season. Those who invested in ADA at levels above $1 in the past are still striving to recover their losses. Therefore, the possibility of a rally is very important for ADA investors.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/key-levels-to-watch-for-cardano-ada-price-action/" data-wpel-link="internal">Key Levels to Watch for Cardano (ADA) Price Action</a></h5>

Key Levels to Watch for Cardano (ADA) Price Action

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