{"id":26532,"date":"2023-07-10T04:54:06","date_gmt":"2023-07-10T08:54:06","guid":{"rendered":"https:\/\/cryptocornercafe.com\/cafe\/?p=26532"},"modified":"2023-07-10T04:54:06","modified_gmt":"2023-07-10T08:54:06","slug":"ada-price-consolidates-below-0-30-what-could-trigger-a-sharp-decline","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/07\/10\/ada-price-consolidates-below-0-30-what-could-trigger-a-sharp-decline\/","title":{"rendered":"ADA Price Consolidates Below $0.30 \u2013 What Could Trigger A Sharp Decline?"},"content":{"rendered":"

Cardano\u2019s price is struggling below the $0.30 zone. ADA could start a sharp decline if it breaks the $0.2765 support zone in the near term.<\/em><\/p>\n

ADA price is moving lower below the $0.292 support against the US dollar.
\nThe price is trading below $0.290 and the 100 simple moving average (4 hours).
\nThere is a major bullish trend line forming with support near $0.2815 on the 4-hour chart of the ADA\/USD pair (data source from Kraken).
\nThe pair could decline heavily if the bulls fail to protect the $0.2765 support zone.<\/p>\n

Cardano\u2019s ADA Price Faces Uphill Task<\/h2>\n

This past week, Cardano\u2019s price attempted a fresh increase above the $0.285 zone. The price climbed above the $0.295 resistance zone but the bears were active near the $0.30 zone.<\/p>\n

A high was formed near $0.3015 before there was a fresh decline. The price declined below the $0.285 level and tested the $0.2765 support. It is now consolidating losses below $0.292, similar to Bitcoin<\/a> and Ethereum<\/a>.<\/p>\n

There was a minor recovery wave above the 50% Fib retracement level of the downward move from the $0.3013 swing high to the $0.2754 low. However, the bears were active above the $0.290 level. ADA is now trading below $0.290 and the 100 simple moving average (4 hours).<\/p>\n

There is also a major bullish trend line forming with support near $0.2815 on the 4-hour chart of the ADA\/USD pair. On the upside, immediate resistance is near the $0.288 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 or the 61.8% Fib retracement level of the downward move from the $0.3013 swing high to the $0.2754 low. The next key resistance might be $0.30. If there is a close above the $0.30 resistance, the price could start a decent increase. In the stated case, the price could rise toward the $0.320 resistance zone.<\/p>\n

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

If Cardano\u2019s price fails to climb above the $0.292 resistance level, it could continue to move down. Immediate support on the downside is near the $0.2815 level and the trend line.<\/p>\n

The next major support is near the $0.2765 level. A downside break below the $0.2765 level could open the doors for a sharp fresh decline toward $0.255. The next major support is near the $0.232 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 $0.2815, $0.2765, and $0.255.<\/p>\n

Major Resistance Levels \u2013 $0.288, $0.292, and $0.300.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Cardano\u2019s price is struggling below the $0.30 zone. ADA could start a sharp decline if it breaks the $0.2765 support zone in the near term.<\/em><\/p>\n

ADA price is moving lower below the $0.292 support against the US dollar.
\nThe price is trading below $0.290 and the 100 simple moving average (4 hours).
\nThere is a major bullish trend line forming with support near $0.2815 on the 4-hour chart of the ADA\/USD pair (data source from Kraken).
\nThe pair could decline heavily if the bulls fail to protect the $0.2765 support zone.<\/p>\n

Cardano\u2019s ADA Price Faces Uphill Task<\/h2>\n

This past week, Cardano\u2019s price attempted a fresh increase above the $0.285 zone. The price climbed above the $0.295 resistance zone but the bears were active near the $0.30 zone.<\/p>\n

A high was formed near $0.3015 before there was a fresh decline. The price declined below the $0.285 level and tested the $0.2765 support. It is now consolidating losses below $0.292, similar to Bitcoin<\/a> and Ethereum<\/a>.<\/p>\n

There was a minor recovery wave above the 50% Fib retracement level of the downward move from the $0.3013 swing high to the $0.2754 low. However, the bears were active above the $0.290 level. ADA is now trading below $0.290 and the 100 simple moving average (4 hours).<\/p>\n

There is also a major bullish trend line forming with support near $0.2815 on the 4-hour chart of the ADA\/USD pair. On the upside, immediate resistance is near the $0.288 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 or the 61.8% Fib retracement level of the downward move from the $0.3013 swing high to the $0.2754 low. The next key resistance might be $0.30. If there is a close above the $0.30 resistance, the price could start a decent increase. In the stated case, the price could rise toward the $0.320 resistance zone.<\/p>\n

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

If Cardano\u2019s price fails to climb above the $0.292 resistance level, it could continue to move down. Immediate support on the downside is near the $0.2815 level and the trend line.<\/p>\n

The next major support is near the $0.2765 level. A downside break below the $0.2765 level could open the doors for a sharp fresh decline toward $0.255. The next major support is near the $0.232 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 $0.2815, $0.2765, and $0.255.<\/p>\n

Major Resistance Levels \u2013 $0.288, $0.292, and $0.300.<\/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-26532","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\/26532","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=26532"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/26532\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=26532"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=26532"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=26532"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}