Ethereum

Cardano

Bitcoin

Resistance

Cardano (ADA) extended losses and tested the $0.360 zone. ADA is now rising and might attempt to clear the $0.400 resistance zone. 
<ul> 
 <li>ADA price remained in a bearish zone and settled below $0.40.</li> 
 <li>The price is trading below $0.400 and the 100-hourly simple moving average.</li> 
 <li>There is a connecting bullish trend line forming with support at $0.3760 on the hourly chart of the ADA/USD pair (data source from Kraken).</li> 
 <li>The pair could gain bullish momentum if there is a close above $0.400.</li> 
</ul> 
<h2 id="cardano-price-remains-in-negative-zone">Cardano Price Remains In Negative Zone</h2> 
In the past few days, Cardano started a downward move like <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-risk-66k/" target="_blank" rel="noopener ">Bitcoin</a> and <a href="https://www.newsbtc.com/analysis/eth/ethereum-outperforms-bitcoin-3650-2/" target="_blank" rel="noopener ">Ethereum</a> after it failed to clear the $0.450 resistance. ADA dipped below the $0.400 support and tested the $0.360 zone. 
A low was formed at $0.360 and the price is now correcting losses. There was a minor recovery wave above the $0.3750 zone. The price climbed above the 50% Fib retracement level of the downward move from the $0.4204 swing high to the $0.3600 low. 
There is also a connecting bullish trend line forming with support at $0.3760 on the hourly chart of the ADA/USD pair. However, the price faces many hurdles on the upside. 
ADA is still trading below $0.400 and the 100-hourly simple moving average. On the upside, immediate resistance is near the $0.3980 zone or the 61.8% Fib retracement level of the downward move from the $0.4204 swing high to the $0.3600 low. <a href="https://www.newsbtc.com/wp-content/uploads/2024/06/Cardano-ADA.png?resize=1024%2C461"><img loading="lazy" decoding="async" class="wp-image-625353 size-full" src="https://www.newsbtc.com/wp-content/uploads/2024/06/Cardano-ADA.png?resize=1024%2C461" alt="Cardano Price" width="1024" height="461" srcset="https://www.newsbtc.com/wp-content/uploads/2024/06/Cardano-ADA.png?resize=1024%2C461?w=1835 1835w, https://www.newsbtc.com/wp-content/uploads/2024/06/Cardano-ADA.png?resize=1024%2C461?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2024/06/Cardano-ADA.png?resize=1024%2C461?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/06/Cardano-ADA.png?resize=1024%2C461?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2024/06/Cardano-ADA.png?resize=1024%2C461?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2024/06/Cardano-ADA.png?resize=1024%2C461?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2024/06/Cardano-ADA.png?resize=1024%2C461?w=1140 1140w" sizes="(max-width: 1000px) 100vw, 1000px" data-recalc-dims="1"></a> 
The first resistance is near $0.400. The next key resistance might be $0.410. If there is a close above the $0.410 resistance, the price could start a strong rally. In the stated case, the price could rise toward the $0.4250 region. Any more gains might call for a move toward $0.450. 
<h2 id="another-decline-in-ada">Another Decline in ADA?</h2> 
If Cardano’s price fails to climb above the $0.400 resistance level, it could start another decline. Immediate support on the downside is near the $0.3850 level. 
The next major support is near the $0.380 level and the trend line. A downside break below the $0.380 level could open the doors for a test of $0.3650. The next major support is near the $0.360 level. 
Technical Indicators 
Hourly MACD – The MACD for ADA/USD is gaining momentum in the bullish zone. 
Hourly RSI (Relative Strength Index) – The RSI for ADA/USD is now above the 50 level. 
Major Support Levels – $0.3850, $0.380, and $0.360. 
Major Resistance Levels – $0.400 and $0.4250.

Can Cardano (ADA) Reclaims This Resistance and Gain Bullish Momentum?

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