ADA price is trading in a bearish zone below the %excerpt%.255 support zone against the US Dollar. The price is now trading below %excerpt%.250 and the 55 simple moving average (4 hours). There is a connecting bearish trend line forming with resistance near %excerpt%.2490 on the 4-hour chart (data feed via Coinbase). The price could continue to move down if it stays below the %excerpt%.250 resistance zone. Cardano price is struggling below %excerpt%.250 against the US Dollar, like Bitcoin. ADA price could start a fresh increase if it clears the %excerpt%.250 and %excerpt%.255 resistance levels. Cardano Price Analysis In the past few days, Cardano price extended its decline below the %excerpt%.255 support against the US Dollar. The ADA/USD pair declined below the %excerpt%.250 and %excerpt%.248 support levels. The price even
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 is trading in a bearish zone below the $0.255 support zone against the US Dollar.
- The price is now trading below $0.250 and the 55 simple moving average (4 hours).
- There is a connecting bearish trend line forming with resistance near $0.2490 on the 4-hour chart (data feed via Coinbase).
- The price could continue to move down if it stays below the $0.250 resistance zone.
Cardano price is struggling below $0.250 against the US Dollar, like Bitcoin. ADA price could start a fresh increase if it clears the $0.250 and $0.255 resistance levels.
Cardano Price Analysis
In the past few days, Cardano price extended its decline below the $0.255 support against the US Dollar. The ADA/USD pair declined below the $0.250 and $0.248 support levels.
The price even declined below the $0.242 support and the 55 simple moving average (4 hours). It revisited the $0.240 support zone. A low has formed near $0.2405 and the price is now correcting losses. There was a minor increase above the 23.6% Fib retracement level of the downward move from the $0.2579 swing high to the $0.2405 low.
On the upside, immediate resistance is near the $0.2485 zone or the 55 simple moving average (4 hours). There is also a connecting bearish trend line forming with resistance near $0.2490 on the 4-hour chart.
The trend line is near the 50% Fib retracement level of the downward move from the $0.2579 swing high to the $0.2405 low. The first major resistance is near the $0.255 level. The next key resistance could be $0.265. A clear upside break above the $0.265 level might send the price toward the $0.280 resistance. Any more gains could start a steady increase toward the $0.292 level or even $0.300.
On the downside, immediate support is near the $0.240 level. The next major support is near the $0.235 level, below which the price may perhaps decline toward the $0.220 support level. Any more losses might call for a test of the $0.20 level.
The chart indicates that ADA price is now trading below $0.250 and the 55 simple moving average (4 hours). Overall, the price could continue to move down if it stays below the $0.255 resistance zone.
Technical Indicators
4 hours MACD – The MACD for ADA/USD is now losing pace in the bearish zone.
4 hours RSI – The RSI for ADA/USD is now below the 50 level.
Key Support Levels – $0.2400 and $0.2350.
Key Resistance Levels – $0.2500 and $0.2550.