Cardano

Bitcoin

Resistance

Cardano (ADA) is moving lower below the $0.500 resistance zone. ADA could gain bearish momentum and decline if it stays below the 100 SMA (H4). 
<ul> 
 <li>ADA price is slowly moving lower from the $0.520 zone.</li> 
 <li>The price is trading below $0.500 and the 100 simple moving average (4 hours).</li> 
 <li>There is a key bearish trend line forming with resistance at $0.4740 on the 4-hour chart of the ADA/USD pair (data source from Kraken).</li> 
 <li>The pair could attempt a fresh increase if the bulls remain active above the $0.4280 support.</li> 
</ul> 
<h2 id="cardano-price-faces-key-hurdles">Cardano Price Faces Key Hurdles</h2> 
In the past few days, Cardano saw a steady decline from the $0.520 resistance zone, like <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-grinds-lower-62k/" target="_blank" rel="noopener ">Bitcoin</a> and <a href="https://www.newsbtc.com/analysis/eth/ethereum-price-reverse-gains-3220/" target="_blank" rel="noopener ">Ethereum</a>. ADA price declined below the $0.500 and $0.4950 levels to enter a bearish zone. 
There was a move below the 50% Fib retracement level of the upward move from the $0.4000 swing low to the $0.5201 high. It even declined below $0.4650 and tested $0.450. The price is now trading below $0.500 and the 100 simple moving average (4 hours). 
There is also a key bearish trend line forming with resistance at $0.4740 on the 4-hour chart of the ADA/USD pair. The bulls seem to be active near the $0.450 zone and the 61.8% Fib retracement level of the upward move from the $0.4000 swing low to the $0.5201 high. 
On the upside, immediate resistance is near the $0.4740 zone, the 100 simple moving average (4 hours), and the trend line. The first resistance is near $0.4920. The next key resistance might be $0.500. If there is a close above the $0.50 resistance, the price could start a strong rally. 
<a href="https://www.newsbtc.com/wp-content/uploads/2024/04/Cardano-ADA_6405af.png?resize=1024%2C461"><img loading="lazy" decoding="async" class="alignnone size-full wp-image-605517" src="https://www.newsbtc.com/wp-content/uploads/2024/04/Cardano-ADA_6405af.png?resize=1024%2C461" alt="ADA Price Prediction" width="1024" height="461" srcset="https://www.newsbtc.com/wp-content/uploads/2024/04/Cardano-ADA_6405af.png?resize=1024%2C461?w=1835 1835w, https://www.newsbtc.com/wp-content/uploads/2024/04/Cardano-ADA_6405af.png?resize=1024%2C461?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2024/04/Cardano-ADA_6405af.png?resize=1024%2C461?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/04/Cardano-ADA_6405af.png?resize=1024%2C461?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2024/04/Cardano-ADA_6405af.png?resize=1024%2C461?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2024/04/Cardano-ADA_6405af.png?resize=1024%2C461?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2024/04/Cardano-ADA_6405af.png?resize=1024%2C461?w=1140 1140w" sizes="(max-width: 1000px) 100vw, 1000px" data-recalc-dims="1"></a> 
Source: <a href="https://www.tradingview.com/symbols/ADAUSD/" target="_blank" rel="noopener nofollow">ADAUSD on TradingView.com</a> 
In the stated case, the price could rise toward the $0.5250 region. Any more gains might call for a move toward $0.5650. 
<h2 id="more-losses-in-ada">More Losses in ADA?</h2> 
If Cardano’s price fails to climb above the $0.4740 resistance level and the 100 simple moving average (4 hours), it could continue to move down. Immediate support on the downside is near the $0.450 level. 
The next major support is near the $0.4280 level. A downside break below the $0.4280 level could open the doors for a test of $0.40. The next major support is near the $0.3880 level. 
Technical Indicators 
4 hours MACD – The MACD for ADA/USD is gaining momentum in the bearish zone. 
4 hours RSI (Relative Strength Index) – The RSI for ADA/USD is now below the 50 level. 
Major Support Levels – $0.4500, $0.4280, and $0.4000. 
Major Resistance Levels – $0.4740, $0.5000, and $0.5200.

ADA Price Prediction – Can Cardano Reclaim 100 SMA and Rally?

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