{"id":28267,"date":"2023-08-16T04:53:57","date_gmt":"2023-08-16T08:53:57","guid":{"rendered":"https:\/\/cryptocornercafe.com\/cafe\/?p=28267"},"modified":"2023-08-16T04:53:57","modified_gmt":"2023-08-16T08:53:57","slug":"ada-price-plunges-5-can-buyers-save-the-key-0-275-support","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/08\/16\/ada-price-plunges-5-can-buyers-save-the-key-0-275-support\/","title":{"rendered":"ADA Price Plunges 5%, Can Buyers Save The Key $0.275 Support?"},"content":{"rendered":"

Cardano\u2019s price started a fresh decline from well above $0.30. ADA is testing $0.275 and remains at risk of more downsides in the near term.<\/em><\/p>\n

ADA price is gaining bearish momentum below the $0.30 level against the US dollar.
\nThe price is trading above $0.288 and the 100 simple moving average (4 hours).
\nThere is a major bearish trend line forming with resistance near $0.288 on the 4-hour chart of the ADA\/USD pair (data source from Kraken).
\nThe pair could start a recovery wave if there is a close above the $0.30 resistance.<\/p>\n

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

In the past few days, Cardano\u2019s price saw a fresh decline from well above $0.308. The price traded below the $0.300 and $0.288 support levels to move into a bearish zone, similar to Bitcoin<\/a> and Ethereum<\/a>.<\/p>\n

The price even declined below $0.280 and tested the $0.275 support. A low is formed near $0.2752 and the price is now consolidating losses. It is now trading near the 23.6% Fib retracement level of the downward move from the $0.3018 swing high to the $0.2752 low.<\/p>\n

ADA price is now trading below $0.288 and the 100 simple moving average (4 hours). There is also a major bearish trend line forming with resistance near $0.288 on the 4-hour chart of the ADA\/USD pair.<\/p>\n

On the upside, immediate resistance is near the $0.285 zone. The first major resistance is forming near the $0.288 zone and the trend line. It is close to the 50% Fib retracement level of the downward move from the $0.3018 swing high to the $0.2752 low.<\/p>\n\n

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

The next key resistance might be $0.300. If there is a close above the $0.300 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 $0.288 resistance level, it could start another decline. Immediate support on the downside is near the $0.275 level.<\/p>\n

The next major support is near the $0.262 level. A downside break below the $0.262 level could open the doors for a sharp fresh decline toward $0.235. The next major support is near the $0.220 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 $0.275, $0.262, and $0.235.<\/p>\n

Major Resistance Levels \u2013 $0.285, $0.288, and $0.300.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Cardano\u2019s price started a fresh decline from well above $0.30. ADA is testing $0.275 and remains at risk of more downsides in the near term.<\/em><\/p>\n

ADA price is gaining bearish momentum below the $0.30 level against the US dollar.
\nThe price is trading above $0.288 and the 100 simple moving average (4 hours).
\nThere is a major bearish trend line forming with resistance near $0.288 on the 4-hour chart of the ADA\/USD pair (data source from Kraken).
\nThe pair could start a recovery wave if there is a close above the $0.30 resistance.<\/p>\n

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

In the past few days, Cardano\u2019s price saw a fresh decline from well above $0.308. The price traded below the $0.300 and $0.288 support levels to move into a bearish zone, similar to Bitcoin<\/a> and Ethereum<\/a>.<\/p>\n

The price even declined below $0.280 and tested the $0.275 support. A low is formed near $0.2752 and the price is now consolidating losses. It is now trading near the 23.6% Fib retracement level of the downward move from the $0.3018 swing high to the $0.2752 low.<\/p>\n

ADA price is now trading below $0.288 and the 100 simple moving average (4 hours). There is also a major bearish trend line forming with resistance near $0.288 on the 4-hour chart of the ADA\/USD pair.<\/p>\n

On the upside, immediate resistance is near the $0.285 zone. The first major resistance is forming near the $0.288 zone and the trend line. It is close to the 50% Fib retracement level of the downward move from the $0.3018 swing high to the $0.2752 low.<\/p>\n

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

The next key resistance might be $0.300. If there is a close above the $0.300 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 $0.288 resistance level, it could start another decline. Immediate support on the downside is near the $0.275 level.<\/p>\n

The next major support is near the $0.262 level. A downside break below the $0.262 level could open the doors for a sharp fresh decline toward $0.235. The next major support is near the $0.220 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 $0.275, $0.262, and $0.235.<\/p>\n

Major Resistance Levels \u2013 $0.285, $0.288, 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-28267","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\/28267","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=28267"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/28267\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=28267"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=28267"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=28267"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}