ADA price is signaling a bearish bias below the %excerpt%.32 support zone against the US Dollar. The price is now trading below %excerpt%.320 and the 55 simple moving average (4-hours). There is a key bearish trend line forming with resistance near %excerpt%.308 on the 4-hours chart (data feed via Bitfinex). The price could continue to move down if it stays below the %excerpt%.315 resistance zone. Cardano price is struggling below %excerpt%.315 against the US Dollar, similar to bitcoin. ADA price must stay above the %excerpt%.295 support to avoid more downsides. Cardano Price Analysis This past week, cardano price saw a fresh decline from the %excerpt%.330 zone against the US Dollar. The ADA/USD pair declined below the %excerpt%.320 and %excerpt%.308 support levels. The price even declined below the %excerpt%.305 support and the 55
Topics:
Aayush Jindal considers the following as important: ADA, Altcoin News, Cardano, News, Trading
This could be interesting, too:
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
Temitope Olatunji writes X Empire Unveils ‘Chill Phase’ Update: Community to Benefit from Expanded Tokenomics
- ADA price is signaling a bearish bias below the $0.32 support zone against the US Dollar.
- The price is now trading below $0.320 and the 55 simple moving average (4-hours).
- There is a key bearish trend line forming with resistance near $0.308 on the 4-hours chart (data feed via Bitfinex).
- The price could continue to move down if it stays below the $0.315 resistance zone.
Cardano price is struggling below $0.315 against the US Dollar, similar to bitcoin. ADA price must stay above the $0.295 support to avoid more downsides.
Cardano Price Analysis
This past week, cardano price saw a fresh decline from the $0.330 zone against the US Dollar. The ADA/USD pair declined below the $0.320 and $0.308 support levels.
The price even declined below the $0.305 support and the 55 simple moving average (4-hour). A low was formed near $0.3008 and the price is now consolidating losses. On the upside, an immediate resistance is near the $0.308 zone.
There is also a key bearish trend line forming with resistance near $0.308 on the 4-hours chart. The trend line is near the 23.6% Fib retracement level of the downward move from the $0.3292 swing high to $0.3008 low.
The first major resistance is near the $0.315 level and the 55 simple moving average (4-hours) or the 50% Fib retracement level of the downward move from the $0.3292 swing high to $0.3008 low, above which the price might recover.
The next major resistance is near the $0.350 zone. A clear upside break above the $0.350 level might send the price towards the $0.388 resistance. Any more gains could start a steady increase towards the $0.400 level.
On the downside, an immediate support is near the $0.300 level. The next major support is near the $0.295 level, below which the price may perhaps decline towards the $0.262 support level. Any more losses might call for a test of the $0.250 level.
Cardano Price
The chart indicates that ADA price is now trading below $0.312 and the 55 simple moving average (4-hours). Overall, the price could continue to move down if it fails to surpass the $0.315 resistance 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 – $0.300 and $0.295.
Key Resistance Levels – $0.315 and $0.330.