ADA price failed to surpass the %excerpt%.440 resistance and declined against the US Dollar. The price is now trading below %excerpt%.420 and the 55 simple moving average (4-hours). There was a break below a major bullish trend line with support near %excerpt%.402 on the 4-hours chart (data feed via Bitfinex). The price could continue to move down if it fails to stay above the %excerpt%.380 support zone. Cardano price is struggling below %excerpt%.42 against the US Dollar, similar to bitcoin. ADA price could gain bearish momentum if it clears the %excerpt%.380 support. Cardano Price Analysis This past week, cardano price faced a strong rejection near the %excerpt%.440 zone against the US Dollar. The ADA/USD pair formed a high near %excerpt%.438 and started a fresh decline. There was a clear move below the %excerpt%.420 and %excerpt%.405
Topics:
Aayush Jindal considers the following as important: ADA, Altcoin News, Cardano, News, Trading
This could be interesting, too:
Bitcoin Schweiz News writes Die besten Bitcoin-Börsen für die Schweiz: Sortiert nach Trustpilot-Rating
Bitcoin Schweiz News writes Diese 3 Bitcoin-Börsen sind für Anfänger besonders geeignet
Chayanika Deka writes Optimism for Republican Win Drives .2 Billion in Weekly Inflows into BTC, ETH Products
Chayanika Deka writes Bitcoin Leads Investor Activity with 9M in Outflows; But Multi-Asset Products Shine
- ADA price failed to surpass the $0.440 resistance and declined against the US Dollar.
- The price is now trading below $0.420 and the 55 simple moving average (4-hours).
- There was a break below a major bullish trend line with support near $0.402 on the 4-hours chart (data feed via Bitfinex).
- The price could continue to move down if it fails to stay above the $0.380 support zone.
Cardano price is struggling below $0.42 against the US Dollar, similar to bitcoin. ADA price could gain bearish momentum if it clears the $0.380 support.
Cardano Price Analysis
This past week, cardano price faced a strong rejection near the $0.440 zone against the US Dollar. The ADA/USD pair formed a high near $0.438 and started a fresh decline.
There was a clear move below the $0.420 and $0.405 support levels. Besides, there was a break below a major bullish trend line with support near $0.402 on the 4-hours chart. The bears pushed the price below the 50% Fib retracement level of the upward move from the $0.380 swing low to $0.438 high.
The price even declined below the $0.400 support and the 55 simple moving average (4-hour). It is now trading near the 76.4% Fib retracement level of the upward move from the $0.380 swing low to $0.438 high.
On the downside, an immediate support is near the $0.385 level. The next major support is near the $0.380 level, below which the price may perhaps decline towards the $0.35 support level. Any more losses might call for a test of the $0.320 level.
On the upside, an immediate resistance is near the $0.402 zone. The first major resistance is near the $0.420 level. The next major resistance is near the $0.440 zone. A clear upside break above the $0.440 level might send the price towards the $0.465 resistance. Any more gains could start a steady increase towards the $0.48 level in the near term.
Cardano (ADA) Price
The chart indicates that ADA price is now trading below $0.42 and the 55 simple moving average (4-hours). Overall, the price could continue to move down if it fails to stay above the $0.380 support zone.
Technical Indicators
4 hours MACD – The MACD for ADA/USD is now gaining pace in the bearish zone.
4 hours RSI – The RSI for ADA/USD is now below the 50 level.
Key Support Levels – $0.380 and $0.350.
Key Resistance Levels – $0.420 and $0.440.