{"id":22453,"date":"2023-04-24T05:57:59","date_gmt":"2023-04-24T09:57:59","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=22453"},"modified":"2023-04-24T05:57:59","modified_gmt":"2023-04-24T09:57:59","slug":"ada-price-cardano-close-below-0-38-could-spark-larger-degree-correction","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/04\/24\/ada-price-cardano-close-below-0-38-could-spark-larger-degree-correction\/","title":{"rendered":"ADA Price (Cardano) Close Below $0.38 Could Spark Larger Degree Correction"},"content":{"rendered":"

Cardano\u2019s price started a fresh decline from the $0.460 resistance. ADA could decline further if there is a clear move below the $0.38 support.<\/em><\/p>\n

ADA price declined heavily from the $0.460 resistance against the US dollar.
\nThe price is trading below $0.400 and the 100 simple moving average (4 hours).
\nThere was a break below a key bullish trend line with support near $0.4150 on the 4-hour chart of the ADA\/USD pair (data source from Kraken).
\nThe pair could start a recovery wave if it clears the $0.400 resistance zone.<\/p>\n

Cardano\u2019s ADA Price Revisits Key Support<\/h2>\n

After a decent increase, Cardano\u2019s price faced resistance near the $0.460 zone. The price faced an increase in selling pressure and started a fresh decline below $0.420, similar to Bitcoin<\/a> and Ethereum<\/a>.<\/p>\n

There was a clear move below the $0.40 support zone. Besides, there was a break below a key bullish trend line with support near $0.4150 on the 4-hour chart of the ADA\/USD pair. The pair even tested the $0.380 support zone.<\/p>\n

A low is formed near $0.3803 and the price is now consolidating losses. It is trading below $0.400 and the 100 simple moving average (4 hours). On the upside, immediate resistance is near the $0.400 zone. It is near the 23.6% Fib retracement level of the main decline from the $0.4616 swing high to the 0.3803 low.<\/p>\n

The next major resistance is forming near the $0.410 zone or the 100 simple moving average (4 hours). If there is an upside break above the $0.400 and $0.410 resistance levels, the price could start a decent increase.<\/p>\n

<\/a><\/p>\n

Source: ADAUSD on TradingView.com<\/a><\/p>\n

In the stated case, the price could rise steadily toward the $0.41 level or the 50% Fib retracement level of the main decline from the $0.4616 swing high to the 0.3803 low. The next key resistance might be $0.432.<\/p>\n

More Losses?<\/h2>\n

If Cardano\u2019s price fails to climb above the $0.400 and $0.410 resistance levels, it could continue to move down. Immediate support on the downside is near the $0.380 level.<\/p>\n

The next major support is near the $0.372 level. A downside break below the $0.372 level could open the doors for a fresh decline toward $0.350. The next major support is near the $0.325 level.<\/p>\n

Technical Indicators<\/p>\n

4 hours MACD \u2013 The MACD for ADA\/USD is losing momentum in the bearish zone.<\/p>\n

4 hours RSI (Relative Strength Index) \u2013 The RSI for ADA\/USD is now below the 50 level.<\/p>\n

Major Support Levels \u2013 $0.380, $0.372, and $0.350.<\/p>\n

Major Resistance Levels \u2013 $0.400, $0.410, and $0.420.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Cardano\u2019s price started a fresh decline from the $0.460 resistance. ADA could decline further if there is a clear move below the $0.38 support.<\/em><\/p>\n

ADA price declined heavily from the $0.460 resistance against the US dollar.
\nThe price is trading below $0.400 and the 100 simple moving average (4 hours).
\nThere was a break below a key bullish trend line with support near $0.4150 on the 4-hour chart of the ADA\/USD pair (data source from Kraken).
\nThe pair could start a recovery wave if it clears the $0.400 resistance zone.<\/p>\n

Cardano\u2019s ADA Price Revisits Key Support<\/h2>\n

After a decent increase, Cardano\u2019s price faced resistance near the $0.460 zone. The price faced an increase in selling pressure and started a fresh decline below $0.420, similar to Bitcoin<\/a> and Ethereum<\/a>.<\/p>\n

There was a clear move below the $0.40 support zone. Besides, there was a break below a key bullish trend line with support near $0.4150 on the 4-hour chart of the ADA\/USD pair. The pair even tested the $0.380 support zone.<\/p>\n

A low is formed near $0.3803 and the price is now consolidating losses. It is trading below $0.400 and the 100 simple moving average (4 hours). On the upside, immediate resistance is near the $0.400 zone. It is near the 23.6% Fib retracement level of the main decline from the $0.4616 swing high to the 0.3803 low.<\/p>\n

The next major resistance is forming near the $0.410 zone or the 100 simple moving average (4 hours). If there is an upside break above the $0.400 and $0.410 resistance levels, the price could start a decent increase.<\/p>\n

<\/a><\/p>\n

Source: ADAUSD on TradingView.com<\/a><\/p>\n

In the stated case, the price could rise steadily toward the $0.41 level or the 50% Fib retracement level of the main decline from the $0.4616 swing high to the 0.3803 low. The next key resistance might be $0.432.<\/p>\n

More Losses?<\/h2>\n

If Cardano\u2019s price fails to climb above the $0.400 and $0.410 resistance levels, it could continue to move down. Immediate support on the downside is near the $0.380 level.<\/p>\n

The next major support is near the $0.372 level. A downside break below the $0.372 level could open the doors for a fresh decline toward $0.350. The next major support is near the $0.325 level.<\/p>\n

Technical Indicators<\/p>\n

4 hours MACD \u2013 The MACD for ADA\/USD is losing momentum in the bearish zone.<\/p>\n

4 hours RSI (Relative Strength Index) \u2013 The RSI for ADA\/USD is now below the 50 level.<\/p>\n

Major Support Levels \u2013 $0.380, $0.372, and $0.350.<\/p>\n

Major Resistance Levels \u2013 $0.400, $0.410, and $0.420.<\/p>\n

<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"colormag_page_layout":"default_layout","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[82],"tags":[],"class_list":["post-22453","post","type-post","status-publish","format-standard","hentry","category-blockchain"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/22453","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/comments?post=22453"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/22453\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=22453"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=22453"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=22453"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}