{"id":28712,"date":"2023-08-25T04:52:43","date_gmt":"2023-08-25T08:52:43","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=28712"},"modified":"2023-08-25T04:52:43","modified_gmt":"2023-08-25T08:52:43","slug":"ada-price-dips-worth-buying-what-key-market-indicators-suggest","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/08\/25\/ada-price-dips-worth-buying-what-key-market-indicators-suggest\/","title":{"rendered":"ADA Price Dips Worth Buying? What Key Market Indicators Suggest"},"content":{"rendered":"

Cardano\u2019s price started a fresh decline below $0.280. ADA is struggling and key indicators suggest high chances of more downsides below $0.252.<\/em><\/p>\n

ADA price is gaining bearish momentum below the $0.285 level against the US dollar.
\nThe price is trading above $0.280 and the 100 simple moving average (4 hours).
\nThere is a major bearish trend line forming with resistance near $0.274 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 $0.280 resistance.<\/p>\n

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

In the past few days, Cardano\u2019s price saw a fresh decline from well above $0.288. The price traded below the $0.285 and $0.280 support levels to move into a bearish zone, similar to Bitcoin<\/a> and Ethereum<\/a>.<\/p>\n

The price even declined below $0.265 and tested the $0.245 support. A low is formed near $0.2455 and the price is now consolidating losses. There was a minor increase above the 23.6% Fib retracement level of the downward move from the $0.3018 swing high to the $0.2455 low.<\/p>\n

However, the bears are active near the $0.270 zone. ADA price is now trading below $0.280 and the 100 simple moving average (4 hours). There is also a major bearish trend line forming with resistance near $0.274 on the 4-hour chart of the ADA\/USD pair.<\/p>\n

On the upside, immediate resistance is near the $0.270 zone. The first major resistance is forming near the $0.274 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 $0.2455 low.<\/p>\n\n

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

The next key resistance might be $0.280. If there is a close above the $0.280 resistance, the price could start a decent increase. In the stated case, the price could rise toward the $0.300 resistance zone.<\/p>\n

More Losses?<\/h2>\n

If Cardano\u2019s price fails to climb above the $0.274 resistance level, it could start another decline. Immediate support on the downside is near the $0.252 level.<\/p>\n

The next major support is near the $0.2455 level. A downside break below the $0.2455 level could open the doors for a sharp fresh decline toward $0.220. The next major support is near the $0.200 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 $0.252, $0.2455, and $0.220.<\/p>\n

Major Resistance Levels \u2013 $0.270, $0.274, and $0.280.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Cardano\u2019s price started a fresh decline below $0.280. ADA is struggling and key indicators suggest high chances of more downsides below $0.252.<\/em><\/p>\n

ADA price is gaining bearish momentum below the $0.285 level against the US dollar.
\nThe price is trading above $0.280 and the 100 simple moving average (4 hours).
\nThere is a major bearish trend line forming with resistance near $0.274 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 $0.280 resistance.<\/p>\n

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

In the past few days, Cardano\u2019s price saw a fresh decline from well above $0.288. The price traded below the $0.285 and $0.280 support levels to move into a bearish zone, similar to Bitcoin<\/a> and Ethereum<\/a>.<\/p>\n

The price even declined below $0.265 and tested the $0.245 support. A low is formed near $0.2455 and the price is now consolidating losses. There was a minor increase above the 23.6% Fib retracement level of the downward move from the $0.3018 swing high to the $0.2455 low.<\/p>\n

However, the bears are active near the $0.270 zone. ADA price is now trading below $0.280 and the 100 simple moving average (4 hours). There is also a major bearish trend line forming with resistance near $0.274 on the 4-hour chart of the ADA\/USD pair.<\/p>\n

On the upside, immediate resistance is near the $0.270 zone. The first major resistance is forming near the $0.274 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 $0.2455 low.<\/p>\n

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

The next key resistance might be $0.280. If there is a close above the $0.280 resistance, the price could start a decent increase. In the stated case, the price could rise toward the $0.300 resistance zone.<\/p>\n

More Losses?<\/h2>\n

If Cardano\u2019s price fails to climb above the $0.274 resistance level, it could start another decline. Immediate support on the downside is near the $0.252 level.<\/p>\n

The next major support is near the $0.2455 level. A downside break below the $0.2455 level could open the doors for a sharp fresh decline toward $0.220. The next major support is near the $0.200 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 $0.252, $0.2455, and $0.220.<\/p>\n

Major Resistance Levels \u2013 $0.270, $0.274, and $0.280.<\/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-28712","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\/28712","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=28712"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/28712\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=28712"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=28712"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=28712"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}