Cardano

Bitcoin

Resistance

Cardano price failed to surpass $0.40 and started another decline. ADA is now trading below $0.3850 and might extend losses in the near term. 
<ul> 
 <li>ADA price started a fresh decline and traded below $0.3880.</li> 
 <li>The price is trading below $0.3850 and the 100-hourly simple moving average.</li> 
 <li>There was a break below a key bullish trend line with support at $0.3845 on the hourly chart of the ADA/USD pair (data source from Kraken).</li> 
 <li>The pair could extend losses and test the $0.370 support zone.</li> 
</ul> 
<h2 id="cardano-price-dips-again">Cardano Price Dips Again</h2> 
In the past few days, Cardano attempted a recovery wave above the $0.3650 zone like <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-rejection-62500/" target="_blank" rel="noopener ">Bitcoin</a> and <a href="https://www.newsbtc.com/analysis/eth/ethereum-price-roadblocks-3450/" target="_blank" rel="noopener ">Ethereum</a>. However, ADA failed to clear the $0.40 resistance zone. A high was formed at $0.3967 and the price started a fresh decline. 
There was a move below the $0.3880 and $0.3865 support levels. The price declined below the 23.6% Fib retracement level of the upward move from the $0.3620 swing low to the $0.3967 high. Besides, there was a break below a key bullish trend line with support at $0.3845 on the hourly chart of the ADA/USD pair. 
ADA price is now trading below $0.3850 and the 100-hourly simple moving average. If there is another upward move, the price might face resistance near the $0.3850 zone. <a href="https://www.newsbtc.com/wp-content/uploads/2024/06/Cardano-ADA_8f33d2.png?resize=1024%2C461"><img loading="lazy" decoding="async" class="wp-image-626614 size-full" src="https://www.newsbtc.com/wp-content/uploads/2024/06/Cardano-ADA_8f33d2.png?resize=1024%2C461" alt="Cardano Price ADA" width="1024" height="461" srcset="https://www.newsbtc.com/wp-content/uploads/2024/06/Cardano-ADA_8f33d2.png?resize=1024%2C461?w=1835 1835w, https://www.newsbtc.com/wp-content/uploads/2024/06/Cardano-ADA_8f33d2.png?resize=1024%2C461?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2024/06/Cardano-ADA_8f33d2.png?resize=1024%2C461?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/06/Cardano-ADA_8f33d2.png?resize=1024%2C461?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2024/06/Cardano-ADA_8f33d2.png?resize=1024%2C461?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2024/06/Cardano-ADA_8f33d2.png?resize=1024%2C461?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2024/06/Cardano-ADA_8f33d2.png?resize=1024%2C461?w=1140 1140w" sizes="(max-width: 1000px) 100vw, 1000px" data-recalc-dims="1"></a> 
The first resistance is near $0.3880. The next key resistance might be $0.40. If there is a close above the $0.40 resistance, the price could start a strong rally. In the stated case, the price could rise toward the $0.4150 region. Any more gains might call for a move toward $0.4250. 
<h2 id="more-downsides-in-ada">More Downsides in ADA?</h2> 
If Cardano’s price fails to climb above the $0.3850 resistance level, it could continue to move down. Immediate support on the downside is near the $0.3795 level or the 50% Fib retracement level of the upward move from the $0.3620 swing low to the $0.3967 high. 
The next major support is near the $0.370 level. A downside break below the $0.370 level could open the doors for a test of $0.350. The next major support is near the $0.3350 level. 
Technical Indicators 
Hourly MACD – The MACD for ADA/USD is gaining momentum in the bearish zone. 
Hourly RSI (Relative Strength Index) – The RSI for ADA/USD is now below the 50 level. 
Major Support Levels – $0.3790, $0.370, and $0.350. 
Major Resistance Levels – $0.3880 and $0.400.

Cardano (ADA) Faces Fresh Decline: Key Drivers Behind The Downtrend

목차

NewsBTC

2024년 6월 27일에 게재된 다른 기사

Breaking: Custodia Bank Files Appeal Stating Fed’s Law Violation & Dual Banking System

Buy Polkadot (DOT), Ethereum Classic (ETC), And ETFSwap (ETFS) Ahead Of The Mt. Gox Bitcoin Inflo...

Bitcoin Could Rival US Dollar In Size, Analyst Reveals When

ETH Sends Mixed Signals as Spot Ethereum ETF Launch in July

Ethereum ETFs Are Buzzing: Could It Fuel ETH Price To $4000 Mark?

Vitalik Buterin Talks About Rarimo’s Zero-Knowledge Proof Voting Tool

무료 뉴스레터에 가입하여 매일 최신 암호화폐 소식을 받아보세요!