{"id":33800,"date":"2023-12-06T07:00:54","date_gmt":"2023-12-06T11:00:54","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=33800"},"modified":"2023-12-06T07:00:54","modified_gmt":"2023-12-06T11:00:54","slug":"ada-price-claims-0-40-and-recovery-could-soon-turn-into-rally","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/12\/06\/ada-price-claims-0-40-and-recovery-could-soon-turn-into-rally\/","title":{"rendered":"ADA Price Claims $0.40 And Recovery Could Soon Turn Into Rally"},"content":{"rendered":"

Cardano (ADA) is gaining pace above the $0.40 resistance. ADA could rally if there is a clear move above the $0.432 and $0.450 resistance levels.<\/em><\/p>\n

ADA price is moving higher above the $0.400 pivot level.
\nThe price is trading above $0.415 and the 100 simple moving average (4 hours).
\nThere is a key bullish trend line forming with support near $0.410 on the 4-hour chart of the ADA\/USD pair (data source from Kraken).
\nThe pair could accelerate higher toward the $0.500 level or even $0.550.<\/p>\n

Cardano Price Starts Steady Increase<\/h2>\n

After forming a base above the $0.3750 level, Cardano started a steady increase. There was a break above the $0.388 and $0.400 resistance levels, but ADA lagged momentum like Bitcoin<\/a> and Ethereum<\/a>.<\/p>\n

The price even climbed above the $0.420 resistance. A high was formed near $0.4293 and the price is now consolidating gains. It is trading above the 23.3% Fib retracement level of the upward move from the $0.3715 swing low to the $0.4293 high.<\/p>\n

ADA is now trading above $0.415 and the 100 simple moving average (4 hours). There is also a key bullish trend line forming with support near $0.410 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 $0.4250 zone. The first resistance is near $0.432. The next key resistance might be $0.450. If there is a close above the $0.450 resistance, the price could start a strong rally. In the stated case, the price could rise toward the $0.50 region. Any more gains might call for a move toward $0.550.<\/p>\n

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

If Cardano\u2019s price fails to climb above the $0.432 resistance level, it could start a downside correction. Immediate support on the downside is near the $0.4150 level.<\/p>\n

The next major support is near the $0.410 level and the trend line. A downside break below the $0.410 level could open the doors for a test of $0.388. The next major support is near the $0.372 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 $0.415, $0.410, and $0.388.<\/p>\n

Major Resistance Levels \u2013 $0.432, $0.450, and $0.500.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Cardano (ADA) is gaining pace above the $0.40 resistance. ADA could rally if there is a clear move above the $0.432 and $0.450 resistance levels.<\/em><\/p>\n

ADA price is moving higher above the $0.400 pivot level.
\nThe price is trading above $0.415 and the 100 simple moving average (4 hours).
\nThere is a key bullish trend line forming with support near $0.410 on the 4-hour chart of the ADA\/USD pair (data source from Kraken).
\nThe pair could accelerate higher toward the $0.500 level or even $0.550.<\/p>\n

Cardano Price Starts Steady Increase<\/h2>\n

After forming a base above the $0.3750 level, Cardano started a steady increase. There was a break above the $0.388 and $0.400 resistance levels, but ADA lagged momentum like Bitcoin<\/a> and Ethereum<\/a>.<\/p>\n

The price even climbed above the $0.420 resistance. A high was formed near $0.4293 and the price is now consolidating gains. It is trading above the 23.3% Fib retracement level of the upward move from the $0.3715 swing low to the $0.4293 high.<\/p>\n

ADA is now trading above $0.415 and the 100 simple moving average (4 hours). There is also a key bullish trend line forming with support near $0.410 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 $0.4250 zone. The first resistance is near $0.432. The next key resistance might be $0.450. If there is a close above the $0.450 resistance, the price could start a strong rally. In the stated case, the price could rise toward the $0.50 region. Any more gains might call for a move toward $0.550.<\/p>\n

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

If Cardano\u2019s price fails to climb above the $0.432 resistance level, it could start a downside correction. Immediate support on the downside is near the $0.4150 level.<\/p>\n

The next major support is near the $0.410 level and the trend line. A downside break below the $0.410 level could open the doors for a test of $0.388. The next major support is near the $0.372 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 $0.415, $0.410, and $0.388.<\/p>\n

Major Resistance Levels \u2013 $0.432, $0.450, and $0.500.<\/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-33800","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\/33800","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=33800"}],"version-history":[{"count":1,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/33800\/revisions"}],"predecessor-version":[{"id":33816,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/33800\/revisions\/33816"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=33800"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=33800"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=33800"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}