{"id":26384,"date":"2023-07-06T05:53:22","date_gmt":"2023-07-06T09:53:22","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=26384"},"modified":"2023-07-06T05:53:22","modified_gmt":"2023-07-06T09:53:22","slug":"ada-price-indicators-suggest-cardano-at-clear-risk-of-further-declines","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/07\/06\/ada-price-indicators-suggest-cardano-at-clear-risk-of-further-declines\/","title":{"rendered":"ADA Price Indicators Suggest Cardano at Clear Risk of Further Declines"},"content":{"rendered":"

Cardano\u2019s price is declining from the $0.30 zone. ADA could continue to move down if it breaks the $0.280 support zone in the near term.<\/em><\/p>\n

ADA price is moving lower from the $0.302 zone against the US dollar.
\nThe price is trading below $0.290 and the 100 simple moving average (4 hours).
\nThere was a break below a key bullish trend line with support near $0.2960 on the 4-hour chart of the ADA\/USD pair (data source from Kraken).
\nThe pair could slide further toward the $0.264 support zone.<\/p>\n

Cardano\u2019s ADA Price Corrects Gains<\/h2>\n

This past week, Cardano\u2019s price started a decent recovery wave from the $0.264 support zone. The bulls managed to push the price above the $0.280 and $0.295 resistance levels.<\/p>\n

It even spiked above the $0.300 resistance. A high is formed near $0.3013 and the price is now correcting gains, similar to Bitcoin<\/a> and Ethereum<\/a>. There was a move below the 50% Fib retracement level of the upward move from the $0.2675 swing low to the $0.3013 high.<\/p>\n

Besides, there was a break below a key bullish trend line with support near $0.2960 on the 4-hour chart of the ADA\/USD pair. The price is now trading below $0.290 and the 100 simple moving average (4 hours).<\/p>\n

The price is now holding the $0.280 support. It is close to the 61.8% Fib retracement level of the upward move from the $0.2675 swing low to the $0.3013 high. On the upside, immediate resistance is near the $0.285 zone and the 100 simple moving average (4 hours).<\/p>\n\n

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

The first major resistance is forming near the $0.292 zone. The next key resistance might be $0.30. If there is an upside break above the $0.300 and $0.305 resistance levels, the price could start a decent increase. In the stated case, the price could even surpass the $0.320 resistance zone.<\/p>\n

More Losses in ADA?<\/h2>\n

If Cardano\u2019s price fails to climb above the $0.285 resistance level, it could continue to move down. Immediate support on the downside is near the $0.280 level.<\/p>\n

The next major support is near the $0.275 level. A downside break below the $0.275 level could open the doors for a fresh decline toward $0.262. The next major support is near the $0.250 level.<\/p>\n

Technical Indicators<\/p>\n

4 hours MACD \u2013 The MACD for ADA\/USD is gaining 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 $0.280, $0.275, and $0.262.<\/p>\n

Major Resistance Levels \u2013 $0.285, $0.295, and $0.305.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Cardano\u2019s price is declining from the $0.30 zone. ADA could continue to move down if it breaks the $0.280 support zone in the near term.<\/em><\/p>\n

ADA price is moving lower from the $0.302 zone against the US dollar.
\nThe price is trading below $0.290 and the 100 simple moving average (4 hours).
\nThere was a break below a key bullish trend line with support near $0.2960 on the 4-hour chart of the ADA\/USD pair (data source from Kraken).
\nThe pair could slide further toward the $0.264 support zone.<\/p>\n

Cardano\u2019s ADA Price Corrects Gains<\/h2>\n

This past week, Cardano\u2019s price started a decent recovery wave from the $0.264 support zone. The bulls managed to push the price above the $0.280 and $0.295 resistance levels.<\/p>\n

It even spiked above the $0.300 resistance. A high is formed near $0.3013 and the price is now correcting gains, similar to Bitcoin<\/a> and Ethereum<\/a>. There was a move below the 50% Fib retracement level of the upward move from the $0.2675 swing low to the $0.3013 high.<\/p>\n

Besides, there was a break below a key bullish trend line with support near $0.2960 on the 4-hour chart of the ADA\/USD pair. The price is now trading below $0.290 and the 100 simple moving average (4 hours).<\/p>\n

The price is now holding the $0.280 support. It is close to the 61.8% Fib retracement level of the upward move from the $0.2675 swing low to the $0.3013 high. On the upside, immediate resistance is near the $0.285 zone and the 100 simple moving average (4 hours).<\/p>\n

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

The first major resistance is forming near the $0.292 zone. The next key resistance might be $0.30. If there is an upside break above the $0.300 and $0.305 resistance levels, the price could start a decent increase. In the stated case, the price could even surpass the $0.320 resistance zone.<\/p>\n

More Losses in ADA?<\/h2>\n

If Cardano\u2019s price fails to climb above the $0.285 resistance level, it could continue to move down. Immediate support on the downside is near the $0.280 level.<\/p>\n

The next major support is near the $0.275 level. A downside break below the $0.275 level could open the doors for a fresh decline toward $0.262. The next major support is near the $0.250 level.<\/p>\n

Technical Indicators<\/p>\n

4 hours MACD \u2013 The MACD for ADA\/USD is gaining 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 $0.280, $0.275, and $0.262.<\/p>\n

Major Resistance Levels \u2013 $0.285, $0.295, and $0.305.<\/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-26384","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\/26384","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=26384"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/26384\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=26384"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=26384"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=26384"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}