{"id":32791,"date":"2023-11-20T04:53:04","date_gmt":"2023-11-20T08:53:04","guid":{"rendered":"https:\/\/cryptocornercafe.com\/cafe\/?p=32791"},"modified":"2023-11-20T04:53:04","modified_gmt":"2023-11-20T08:53:04","slug":"ada-price-cardano-breaking-this-confluence-resistance-could-restart-rally","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/11\/20\/ada-price-cardano-breaking-this-confluence-resistance-could-restart-rally\/","title":{"rendered":"ADA Price (Cardano) Breaking This Confluence Resistance Could Restart Rally"},"content":{"rendered":"

Cardano (ADA) is moving higher from the $0.350 support. ADA could rally if there is a clear move above the $0.388 and $0.395 resistance levels.<\/em><\/p>\n

ADA price is moving higher above the $0.375 pivot level.
\nThe price is trading above $0.380 and the 100 simple moving average (4 hours).
\nThere is a key bullish trend line forming with support near $0.370 on the 4-hour chart of the ADA\/USD pair (data source from Kraken).
\nThe pair could accelerate higher toward the $0.420 level or even $0.450.<\/p>\n

Cardano Price Rally Could Soon Restart<\/h2>\n

After a steady increase, Cardano saw a downside correction from the $0.4090 zone. There was a drop below the $0.395 and $0.388 support levels, like Bitcoin<\/a> and Ethereum<\/a>.<\/p>\n

However, the bulls were active near the $0.350 support zone. A low was formed near $0.3494 and the price is now moving higher. There was a break above the $0.365 and $0.375 resistance levels. The price climbed above the 50% Fib retracement level of the downward move from the $0.4090 swing high to the $0.3494 low.<\/p>\n

ADA is now trading above $0.375 and the 100 simple moving average (4 hours). There is also a key bullish trend line forming with support near $0.370 on the 4-hour chart of the ADA\/USD pair.<\/p>\n

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

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

On the upside, immediate resistance is near the $0.3880 zone or the 61.8% Fib retracement level of the downward move from the $0.4090 swing high to the $0.3494 low. The first resistance is near $0.395. The next key resistance might be $0.400. If there is a close above the $0.400 resistance, the price could extend its rally. In the stated case, the price could rise toward the $0.420 region. Any more gains might call for a move toward $0.450.<\/p>\n

Are Dips Supported in ADA?<\/h2>\n

If Cardano\u2019s price fails to climb above the $0.388 resistance level, it could start a downside correction. Immediate support on the downside is near the $0.370 level and the trend line.<\/p>\n

The next major support is near the $0.365 level and the 100 hourly SMA. A downside break below the $0.365 level could open the doors for a test of $0.350. The next major support is near the $0.335 level.<\/p>\n

Technical Indicators<\/p>\n

4 hours MACD \u2013 The MACD for ADA\/USD is gaining momentum in the bullish zone.<\/p>\n

4 hours RSI (Relative Strength Index) \u2013 The RSI for ADA\/USD is now above the 50 level.<\/p>\n

Major Support Levels \u2013 $0.370, $0.365, and $0.350.<\/p>\n

Major Resistance Levels \u2013 $0.388, $0.395, and $0.420.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Cardano (ADA) is moving higher from the $0.350 support. ADA could rally if there is a clear move above the $0.388 and $0.395 resistance levels.<\/em><\/p>\n

ADA price is moving higher above the $0.375 pivot level.
\nThe price is trading above $0.380 and the 100 simple moving average (4 hours).
\nThere is a key bullish trend line forming with support near $0.370 on the 4-hour chart of the ADA\/USD pair (data source from Kraken).
\nThe pair could accelerate higher toward the $0.420 level or even $0.450.<\/p>\n

Cardano Price Rally Could Soon Restart<\/h2>\n

After a steady increase, Cardano saw a downside correction from the $0.4090 zone. There was a drop below the $0.395 and $0.388 support levels, like Bitcoin<\/a> and Ethereum<\/a>.<\/p>\n

However, the bulls were active near the $0.350 support zone. A low was formed near $0.3494 and the price is now moving higher. There was a break above the $0.365 and $0.375 resistance levels. The price climbed above the 50% Fib retracement level of the downward move from the $0.4090 swing high to the $0.3494 low.<\/p>\n

ADA is now trading above $0.375 and the 100 simple moving average (4 hours). There is also a key bullish trend line forming with support near $0.370 on the 4-hour chart of the ADA\/USD pair.<\/p>\n

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

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

On the upside, immediate resistance is near the $0.3880 zone or the 61.8% Fib retracement level of the downward move from the $0.4090 swing high to the $0.3494 low. The first resistance is near $0.395. The next key resistance might be $0.400. If there is a close above the $0.400 resistance, the price could extend its rally. In the stated case, the price could rise toward the $0.420 region. Any more gains might call for a move toward $0.450.<\/p>\n

Are Dips Supported in ADA?<\/h2>\n

If Cardano\u2019s price fails to climb above the $0.388 resistance level, it could start a downside correction. Immediate support on the downside is near the $0.370 level and the trend line.<\/p>\n

The next major support is near the $0.365 level and the 100 hourly SMA. A downside break below the $0.365 level could open the doors for a test of $0.350. The next major support is near the $0.335 level.<\/p>\n

Technical Indicators<\/p>\n

4 hours MACD \u2013 The MACD for ADA\/USD is gaining momentum in the bullish zone.<\/p>\n

4 hours RSI (Relative Strength Index) \u2013 The RSI for ADA\/USD is now above the 50 level.<\/p>\n

Major Support Levels \u2013 $0.370, $0.365, and $0.350.<\/p>\n

Major Resistance Levels \u2013 $0.388, $0.395, and $0.420.<\/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-32791","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\/32791","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=32791"}],"version-history":[{"count":1,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/32791\/revisions"}],"predecessor-version":[{"id":32801,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/32791\/revisions\/32801"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=32791"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=32791"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=32791"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}