{"id":23787,"date":"2023-05-11T08:52:37","date_gmt":"2023-05-11T12:52:37","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=23787"},"modified":"2023-05-11T08:52:37","modified_gmt":"2023-05-11T12:52:37","slug":"ada-price-cardano-plunge-to-0-32-on-the-horizon-as-bulls-show-weak-hands","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/05\/11\/ada-price-cardano-plunge-to-0-32-on-the-horizon-as-bulls-show-weak-hands\/","title":{"rendered":"ADA Price (Cardano) Plunge To $0.32 On The Horizon As Bulls Show Weak Hands"},"content":{"rendered":"

Cardano\u2019s price started a fresh decline from the $0.40 resistance. ADA could decline further if there is a clear move below the $0.35 support.<\/em><\/p>\n

ADA price is showing bearish signs and trading above $0.35 against the US dollar.
\nThe price is trading below $0.388 and the 100 simple moving average (4 hours).
\nThere is a major bearish trend line forming with resistance near $0.380 on the 4-hour chart of the ADA\/USD pair (data source from Kraken).
\nThe pair could start a decent increase if it clears the $0.380 resistance zone.<\/p>\n

Cardano\u2019s ADA Price Extends Decline<\/h2>\n

This past week, Cardano\u2019s price made a couple of attempts to clear the $0.400 resistance. However, the bulls failed and the price reacted to the downside below the $0.388 support.<\/p>\n

The price declined below the $0.380 and $0.365 support levels. Finally, it tested the $0.355 support. A low is formed near $0.3534 and the price is now attempting a minor upside correction, similar to Bitcoin<\/a> and Ethereum<\/a>.<\/p>\n

ADA is still trading below $0.388 and the 100 simple moving average (4 hours). There is also a major bearish trend line forming with resistance near $0.380 on the 4-hour chart of the ADA\/USD pair. On the upside, immediate resistance is near the $0.375 zone or the 50% Fib retracement level of the recent drop from the $0.3978 swing high to the 0.3534 low.<\/p>\n

The next major resistance is forming near the $0.380 zone or the trend line. It is close to the 61.8% Fib retracement level of the recent drop from the $0.3978 swing high to the 0.3534 low.<\/p>\n

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

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

If there is an upside break above the $0.375 and $0.380 resistance levels, the price could start a decent increase. In the stated case, the price could even surpass the $0.388 resistance zone. The next key resistance might be $0.400, above which it could test $0.42.<\/p>\n

More Losses?<\/h2>\n

If Cardano\u2019s price fails to climb above the $0.375 and $0.380 resistance levels, it could continue to move down. Immediate support on the downside is near the $0.355 level.<\/p>\n

The next major support is near the $0.350 level. A downside break below the $0.350 level could open the doors for a fresh decline toward $0.320. The next major support is near the $0.312 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 $0.355, $0.350, and $0.320.<\/p>\n

Major Resistance Levels \u2013 $0.375, $0.380, and $0.400.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Cardano\u2019s price started a fresh decline from the $0.40 resistance. ADA could decline further if there is a clear move below the $0.35 support.<\/em><\/p>\n

ADA price is showing bearish signs and trading above $0.35 against the US dollar.
\nThe price is trading below $0.388 and the 100 simple moving average (4 hours).
\nThere is a major bearish trend line forming with resistance near $0.380 on the 4-hour chart of the ADA\/USD pair (data source from Kraken).
\nThe pair could start a decent increase if it clears the $0.380 resistance zone.<\/p>\n

Cardano\u2019s ADA Price Extends Decline<\/h2>\n

This past week, Cardano\u2019s price made a couple of attempts to clear the $0.400 resistance. However, the bulls failed and the price reacted to the downside below the $0.388 support.<\/p>\n

The price declined below the $0.380 and $0.365 support levels. Finally, it tested the $0.355 support. A low is formed near $0.3534 and the price is now attempting a minor upside correction, similar to Bitcoin<\/a> and Ethereum<\/a>.<\/p>\n

ADA is still trading below $0.388 and the 100 simple moving average (4 hours). There is also a major bearish trend line forming with resistance near $0.380 on the 4-hour chart of the ADA\/USD pair. On the upside, immediate resistance is near the $0.375 zone or the 50% Fib retracement level of the recent drop from the $0.3978 swing high to the 0.3534 low.<\/p>\n

The next major resistance is forming near the $0.380 zone or the trend line. It is close to the 61.8% Fib retracement level of the recent drop from the $0.3978 swing high to the 0.3534 low.<\/p>\n

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

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

If there is an upside break above the $0.375 and $0.380 resistance levels, the price could start a decent increase. In the stated case, the price could even surpass the $0.388 resistance zone. The next key resistance might be $0.400, above which it could test $0.42.<\/p>\n

More Losses?<\/h2>\n

If Cardano\u2019s price fails to climb above the $0.375 and $0.380 resistance levels, it could continue to move down. Immediate support on the downside is near the $0.355 level.<\/p>\n

The next major support is near the $0.350 level. A downside break below the $0.350 level could open the doors for a fresh decline toward $0.320. The next major support is near the $0.312 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 $0.355, $0.350, and $0.320.<\/p>\n

Major Resistance Levels \u2013 $0.375, $0.380, and $0.400.<\/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-23787","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\/23787","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=23787"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/23787\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=23787"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=23787"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=23787"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}