{"id":30506,"date":"2023-10-04T05:52:37","date_gmt":"2023-10-04T09:52:37","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=30506"},"modified":"2023-10-04T05:52:37","modified_gmt":"2023-10-04T09:52:37","slug":"ada-price-is-showing-early-signs-of-fresh-drop-but-100-sma-is-the-key","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/10\/04\/ada-price-is-showing-early-signs-of-fresh-drop-but-100-sma-is-the-key\/","title":{"rendered":"ADA Price Is Showing Early Signs of Fresh Drop, But 100 SMA Is The Key"},"content":{"rendered":"

Cardano\u2019s price started a fresh decline below $0.264. ADA is struggling and might accelerate lower if there is a close below the $0.250 support.<\/em><\/p>\n

ADA price is gaining bearish momentum below the $0.265 level against the US dollar.
\nThe price is trading above $0.250 and the 100 simple moving average (4 hours).
\nThere was a break below a key bullish trend line with support near $0.258 on the 4-hour chart of the ADA\/USD pair (data source from Kraken).
\nThe pair must stay above the $0.250 support to start a fresh increase in the near term.<\/p>\n

Cardano Price Trims Gains<\/h2>\n

In the past few days, Cardano\u2019s price climbed higher above the $0.255 level. The price was able to clear the $0.265 resistance, but the upsides were limited. The price traded as high as $0.2741 and recently corrected lower, like Bitcoin<\/a> and Ethereum<\/a>.<\/p>\n

There was a drop below the $0.265 support level. Besides, there was a break below a key bullish trend line with support near $0.258 on the 4-hour chart of the ADA\/USD pair.<\/p>\n

Cardano is now testing the 61.8% Fib retracement level of the upward move from the $0.2426 swing low to the $0.2741 high. However, ADA is still above $0.250 and the 100 simple moving average (4 hours).<\/p>\n

<\/a><\/p>\n

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

On the upside, immediate resistance is near the $0.258 zone. The first major resistance is forming near the $0.265 zone. The next key resistance might be $0.274. If there is a close above the $0.274 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 in ADA?<\/h2>\n

If Cardano\u2019s price fails to climb above the $0.265 resistance level, it could continue to move down. Immediate support on the downside is near the $0.250 level.<\/p>\n

The next major support is near the $0.242 level. A downside break below the $0.242 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 $0.250, $0.242, and $0.220.<\/p>\n

Major Resistance Levels \u2013 $0.265, $0.274, and $0.300.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Cardano\u2019s price started a fresh decline below $0.264. ADA is struggling and might accelerate lower if there is a close below the $0.250 support.<\/em><\/p>\n

ADA price is gaining bearish momentum below the $0.265 level against the US dollar.
\nThe price is trading above $0.250 and the 100 simple moving average (4 hours).
\nThere was a break below a key bullish trend line with support near $0.258 on the 4-hour chart of the ADA\/USD pair (data source from Kraken).
\nThe pair must stay above the $0.250 support to start a fresh increase in the near term.<\/p>\n

Cardano Price Trims Gains<\/h2>\n

In the past few days, Cardano\u2019s price climbed higher above the $0.255 level. The price was able to clear the $0.265 resistance, but the upsides were limited. The price traded as high as $0.2741 and recently corrected lower, like Bitcoin<\/a> and Ethereum<\/a>.<\/p>\n

There was a drop below the $0.265 support level. Besides, there was a break below a key bullish trend line with support near $0.258 on the 4-hour chart of the ADA\/USD pair.<\/p>\n

Cardano is now testing the 61.8% Fib retracement level of the upward move from the $0.2426 swing low to the $0.2741 high. However, ADA is still above $0.250 and the 100 simple moving average (4 hours).<\/p>\n

<\/a><\/p>\n

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

On the upside, immediate resistance is near the $0.258 zone. The first major resistance is forming near the $0.265 zone. The next key resistance might be $0.274. If there is a close above the $0.274 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 in ADA?<\/h2>\n

If Cardano\u2019s price fails to climb above the $0.265 resistance level, it could continue to move down. Immediate support on the downside is near the $0.250 level.<\/p>\n

The next major support is near the $0.242 level. A downside break below the $0.242 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 $0.250, $0.242, and $0.220.<\/p>\n

Major Resistance Levels \u2013 $0.265, $0.274, 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-30506","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\/30506","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=30506"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/30506\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=30506"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=30506"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=30506"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}