Cardano

Cryptocurrency

Bitcoin

Resistance

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/cardano-faces-key-resistance-levels-amid-price-fluctuations/" data-wpel-link="internal">Cardano Faces Key Resistance Levels Amid Price Fluctuations</a><br></p>
<p style="text-align: justify"><strong>Cryptocurrency</strong> <a href="https://finance.coin-turk.com/" data-wpel-link="external" target="_blank" rel="nofollow noreferrer">market</a> continues to experience ups and downs, which frustrates <a href="https://finance.coin-turk.com/" data-wpel-link="external" target="_blank" rel="nofollow noreferrer">investors</a>. This is also true for Cardano investors. Recently, there has been an attempt to rise above the resistance zone of $0.4500.</p> 
<h2 style="text-align: justify" id="ada-slowly-climbs">ADA Slowly Climbs</h2> 
<p style="text-align: justify">The cryptocurrency ADA is slowly climbing above the $0.450 region. However, trading below the $0.480 level might be concerning for some investors. Additionally, a breakout above a significant downtrend line at $0.4580 on the ADA/USD 4-hour chart indicates short-term bullish potential for the cryptocurrency ADA.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="wp-image-349378 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/05/ada-2.png" alt="" width="1815" height="798"></p> 
<p style="text-align: justify">Recently, we observed a recovery wave starting from the $0.4180 region for the cryptocurrency Cardano, along with other major cryptocurrencies like Bitcoin and <a href="https://en.coin-turk.com/big-investors-accumulating-eth-while-small-investors-sell-what-does-it-mean-for-ethereum/" data-wpel-link="internal">Ethereum</a>. This recovery wave has moved the ADA price towards a short-term bullish zone.</p> 
<p style="text-align: justify">Currently, the ADA/USD pair is trading below $0.480. However, the immediate upward resistance is near the $0.4650 region. The first resistance could move towards $0.470. If a closure above $0.4980 occurs, the price has the potential to start a strong rally.</p> 
<h2 style="text-align: justify" id="if-resistances-remain-unbroken-ada-could-face-deeper-losses">If Resistances Remain Unbroken, ADA Could Face Deeper Losses</h2> 
<p style="text-align: justify">If the cryptocurrency Cardano’s price cannot rise above the $0.470 resistance level and the 100 simple moving average (4 hours), it could start another decline. Immediate downward support is near $0.450. The next main support is at $0.4350. A downward break below $0.4350 could open the door to testing the $0.4180 region. The next main support is near $0.3880.</p> 
<p style="text-align: justify">Looking at technical indicators, the MACD for ADA/USD is losing momentum in the bearish zone. The RSI for ADA/USD is currently above the 50 level. <a href="https://finance.coin-turk.com/" data-wpel-link="external" target="_blank" rel="nofollow noreferrer">Investors</a> should particularly watch the main support levels at $0.4500, $0.4350, and $0.4180. If a rise begins, the main resistance levels are $0.4700, $0.4980, and $0.5250. Let’s recall that Cardano (ADA) price has corrected about 50% after its last rise.</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/cardano-faces-key-resistance-levels-amid-price-fluctuations/" data-wpel-link="internal">Cardano Faces Key Resistance Levels Amid Price Fluctuations</a></h5>

Cardano Faces Key Resistance Levels Amid Price Fluctuations

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