Cardano

Bitcoin

Resistance

Cardano (ADA) is correcting gains from the $0.80 resistance zone. ADA could start a fresh increase if it stays above the $0.6880 support zone. 
<ul> 
 <li>ADA price is slowly moving lower from the $0.80 zone.</li> 
 <li>The price is trading below $0.720 and the 100 simple moving average (4 hours).</li> 
 <li>There is a key bullish trend line forming with support at $0.6880 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 $0.680 support.</li> 
</ul> 
<h2 id="cardano-price-reaches-key-support">Cardano Price Reaches Key Support</h2> 
After forming a base above the $0.580 level, Cardano started a fresh increase. ADA price was able to climb above the $0.620 and $0.680 resistance levels to move into a positive zone, like <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-slides-68k/" target="_blank" rel="noopener ">Bitcoin</a> and <a href="https://www.newsbtc.com/analysis/eth/ethereum-price-takes-hit-3680/" target="_blank" rel="noopener ">Ethereum</a>. 
The bulls pushed the pair above the $0.700 resistance zone. However, the bears were active near the $0.80 resistance zone. A high was formed near $0.8097 and the price started a downside correction. There was a move below the $0.750 level. 
The price declined below the 23.6% Fib retracement level of the upward wave from the $0.5754 swing low to the $0.8097 high. ADA price is now trading below $0.7250 and the 100 simple moving average (4 hours). 
There is also a key bullish trend line forming with support at $0.6880 on the 4-hour chart of the ADA/USD pair. The trend line is near the 50% Fib retracement level of the upward wave from the $0.5754 swing low to the $0.8097 high. 
<a href="https://www.newsbtc.com/wp-content/uploads/2024/03/Cardano-ADA_4fe4d8.png?resize=1024%2C461"><img loading="lazy" decoding="async" class="alignnone size-full wp-image-597929" src="https://www.newsbtc.com/wp-content/uploads/2024/03/Cardano-ADA_4fe4d8.png?resize=1024%2C461" alt="ADA Price Prediction" width="1024" height="461" srcset="https://www.newsbtc.com/wp-content/uploads/2024/03/Cardano-ADA_4fe4d8.png?resize=1024%2C461?w=1835 1835w, https://www.newsbtc.com/wp-content/uploads/2024/03/Cardano-ADA_4fe4d8.png?resize=1024%2C461?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2024/03/Cardano-ADA_4fe4d8.png?resize=1024%2C461?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/03/Cardano-ADA_4fe4d8.png?resize=1024%2C461?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2024/03/Cardano-ADA_4fe4d8.png?resize=1024%2C461?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2024/03/Cardano-ADA_4fe4d8.png?resize=1024%2C461?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2024/03/Cardano-ADA_4fe4d8.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> 
The bulls might remain active near the $0.680 support. On the upside, immediate resistance is near the $0.7220 zone. The first resistance is near $0.740. The next key resistance might be $0.800. If there is a close above the $0.800 resistance, the price could start a strong rally. In the stated case, the price could rise toward the $0.8250 region. Any more gains might call for a move toward $0.850. 
<h2 id="more-losses-in-ada">More Losses in ADA?</h2> 
If Cardano’s price fails to climb above the $0.7220 resistance level, it could continue to move down. Immediate support on the downside is near the $0.6880 level. 
The next major support is near the $0.680 level. A downside break below the $0.680 level could open the doors for a test of $0.6350. The next major support is near the $0.6120 level. 
Technical Indicators 
4 hours MACD – The MACD for ADA/USD is losing 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 – $0.6880, $0.6800, and $0.6350. 
Major Resistance Levels – $0.7220, $0.7400, and $0.8000.

ADA Price Prediction – Here’s Why Cardano Could Pump Again Above $0.75

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