{"id":24711,"date":"2023-05-29T04:52:52","date_gmt":"2023-05-29T08:52:52","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=24711"},"modified":"2023-05-29T04:52:52","modified_gmt":"2023-05-29T08:52:52","slug":"ada-price-cardano-breaking-this-resistance-could-spark-bullish-moves","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/05\/29\/ada-price-cardano-breaking-this-resistance-could-spark-bullish-moves\/","title":{"rendered":"ADA Price (Cardano) Breaking This Resistance Could Spark Bullish Moves"},"content":{"rendered":"

Cardano\u2019s price is attempting a recovery wave above $0.375. ADA could gain bullish momentum if it settles above the $0.3850 resistance zone.<\/em><\/p>\n

ADA price is slowly moving higher from the $0.360 zone against the US dollar.
\nThe price is trading above $0.370 and the 100 simple moving average (4 hours).
\nThere was a break above a key bearish trend line with resistance near $0.369 on the 4-hour chart of the ADA\/USD pair (data source from Kraken).
\nThe pair could start a decent increase if it settles above the $0.3850 resistance zone.<\/p>\n

Cardano\u2019s ADA Price Attempts Recovery<\/h2>\n

This past week, Cardano\u2019s price declined toward the key $0.354 support zone. The bulls managed to stay in action and averted a major downside break below $0.3540.<\/p>\n

A low was formed near $0.3536 and the price started a recovery wave. There was a move above the $0.365 and $0.375 resistance levels. Besides, there was a break above a key bearish trend line with resistance near $0.369 on the 4-hour chart of the ADA\/USD pair.<\/p>\n

The price is up 3% and showing a few positive signs, similar to Bitcoin<\/a> and Ethereum<\/a>. The bears are now protecting more gains above the $0.3850 resistance. A high is formed near $0.3850 and the price is consolidating gains. ADA price is trading above $0.370 and the 100 simple moving average (4 hours). It might soon test the 23.6% Fib retracement level of the recent wave from the $0.3536 swing low to the $0.3850 high.<\/p>\n\n

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

On the upside, immediate resistance is near the $0.385 zone. The next major resistance is forming near the $0.396 zone. If there is an upside break above the $0.385 and $0.396 resistance levels, the price could start a decent increase. In the stated case, the price could even surpass the $0.420 resistance zone. The next key resistance might be $0.432, above which it could test $0.45.<\/p>\n

Fresh Decline in ADA?<\/h2>\n

If Cardano\u2019s price fails to climb above the $0.385 and $0.396 resistance levels, it could start another decline. Immediate support on the downside is near the $0.375 level.<\/p>\n

The next major support is near the $0.368 level or the 50% Fib retracement level of the recent wave from the $0.3536 swing low to the $0.3850 high. A downside break below the $0.368 level could open the doors for a fresh decline toward $0.354. The next major support is near the $0.332 level.<\/p>\n

Technical Indicators<\/p>\n

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

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

Major Support Levels \u2013 $0.375, $0.368, and $0.354.<\/p>\n

Major Resistance Levels \u2013 $0.385, $0.396, and $0.420.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Cardano\u2019s price is attempting a recovery wave above $0.375. ADA could gain bullish momentum if it settles above the $0.3850 resistance zone.<\/em><\/p>\n

ADA price is slowly moving higher from the $0.360 zone against the US dollar.
\nThe price is trading above $0.370 and the 100 simple moving average (4 hours).
\nThere was a break above a key bearish trend line with resistance near $0.369 on the 4-hour chart of the ADA\/USD pair (data source from Kraken).
\nThe pair could start a decent increase if it settles above the $0.3850 resistance zone.<\/p>\n

Cardano\u2019s ADA Price Attempts Recovery<\/h2>\n

This past week, Cardano\u2019s price declined toward the key $0.354 support zone. The bulls managed to stay in action and averted a major downside break below $0.3540.<\/p>\n

A low was formed near $0.3536 and the price started a recovery wave. There was a move above the $0.365 and $0.375 resistance levels. Besides, there was a break above a key bearish trend line with resistance near $0.369 on the 4-hour chart of the ADA\/USD pair.<\/p>\n

The price is up 3% and showing a few positive signs, similar to Bitcoin<\/a> and Ethereum<\/a>. The bears are now protecting more gains above the $0.3850 resistance. A high is formed near $0.3850 and the price is consolidating gains. ADA price is trading above $0.370 and the 100 simple moving average (4 hours). It might soon test the 23.6% Fib retracement level of the recent wave from the $0.3536 swing low to the $0.3850 high.<\/p>\n

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

On the upside, immediate resistance is near the $0.385 zone. The next major resistance is forming near the $0.396 zone. If there is an upside break above the $0.385 and $0.396 resistance levels, the price could start a decent increase. In the stated case, the price could even surpass the $0.420 resistance zone. The next key resistance might be $0.432, above which it could test $0.45.<\/p>\n

Fresh Decline in ADA?<\/h2>\n

If Cardano\u2019s price fails to climb above the $0.385 and $0.396 resistance levels, it could start another decline. Immediate support on the downside is near the $0.375 level.<\/p>\n

The next major support is near the $0.368 level or the 50% Fib retracement level of the recent wave from the $0.3536 swing low to the $0.3850 high. A downside break below the $0.368 level could open the doors for a fresh decline toward $0.354. The next major support is near the $0.332 level.<\/p>\n

Technical Indicators<\/p>\n

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

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

Major Support Levels \u2013 $0.375, $0.368, and $0.354.<\/p>\n

Major Resistance Levels \u2013 $0.385, $0.396, 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-24711","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\/24711","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=24711"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/24711\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=24711"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=24711"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=24711"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}