{"id":35944,"date":"2024-02-09T05:53:49","date_gmt":"2024-02-09T09:53:49","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=35944"},"modified":"2024-02-09T05:53:49","modified_gmt":"2024-02-09T09:53:49","slug":"ada-price-is-primed-for-a-rally-and-only-1-thing-is-holding-it-back","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2024\/02\/09\/ada-price-is-primed-for-a-rally-and-only-1-thing-is-holding-it-back\/","title":{"rendered":"ADA Price Is Primed For A Rally And Only 1 Thing Is Holding It Back"},"content":{"rendered":"

Cardano (ADA) is attempting a fresh increase from the $0.4720 zone. ADA could start a fresh rally if there is a close above the $0.5350 resistance.<\/em><\/p>\n

ADA price is moving higher above the $0.500 zone.
\nThe price is trading above $0.512 and the 100 simple moving average (4 hours).
\nThere was a break above a key bearish trend line with resistance near $0.510 on the 4-hour chart of the ADA\/USD pair (data source from Kraken).
\nThe pair could accelerate higher if there is a clear move above $0.535 and $0.550.<\/p>\n

Cardano Price Eyes Fresh Increase<\/h2>\n

After forming a base above the $0.4720 level, Cardano started a fresh increase. ADA price was able to climb above the $0.485 and $0.500 resistance levels to move into a positive zone, like Bitcoin<\/a> and Ethereum<\/a>.<\/p>\n

There was a break above a key bearish trend line with resistance near $0.510 on the 4-hour chart of the ADA\/USD pair. The bulls pushed the pair above the $0.520 resistance zone. However, the bears are now active near the $0.535 resistance zone.<\/p>\n

ADA price is now trading above $0.512 and the 100 simple moving average (4 hours). It is also above the 23.6% Fib retracement level of the recent increase from the $0.4718 swing low to the $0.5354 high.<\/p>\n

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

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

On the upside, immediate resistance is near the $0.535 zone. The first resistance is near $0.545 and $0.550. The next key resistance might be $0.565. If there is a close above the $0.565 resistance, the price could start a strong rally. In the stated case, the price could rise toward the $0.600 region. Any more gains might call for a move toward $0.620.<\/p>\n

Another Decline in ADA?<\/h2>\n

If Cardano\u2019s price fails to climb above the $0.535 resistance level, it could start a fresh decline. Immediate support on the downside is near the $0.520 level.<\/p>\n

The next major support is near the $0.5040 level or the 50% Fib retracement level of the recent increase from the $0.4718 swing low to the $0.5354 high. A downside break below the $0.5040 level could open the doors for a test of $0.485. The next major support is near the $0.4720 level.<\/p>\n

Technical Indicators<\/p>\n

4 hours MACD \u2013 The MACD for ADA\/USD is losing 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 $0.520, $0.5040, and $0.4720.<\/p>\n

Major Resistance Levels \u2013 $0.5350, $0.550, and $0.600.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Cardano (ADA) is attempting a fresh increase from the $0.4720 zone. ADA could start a fresh rally if there is a close above the $0.5350 resistance.<\/em><\/p>\n

ADA price is moving higher above the $0.500 zone.
\nThe price is trading above $0.512 and the 100 simple moving average (4 hours).
\nThere was a break above a key bearish trend line with resistance near $0.510 on the 4-hour chart of the ADA\/USD pair (data source from Kraken).
\nThe pair could accelerate higher if there is a clear move above $0.535 and $0.550.<\/p>\n

Cardano Price Eyes Fresh Increase<\/h2>\n

After forming a base above the $0.4720 level, Cardano started a fresh increase. ADA price was able to climb above the $0.485 and $0.500 resistance levels to move into a positive zone, like Bitcoin<\/a> and Ethereum<\/a>.<\/p>\n

There was a break above a key bearish trend line with resistance near $0.510 on the 4-hour chart of the ADA\/USD pair. The bulls pushed the pair above the $0.520 resistance zone. However, the bears are now active near the $0.535 resistance zone.<\/p>\n

ADA price is now trading above $0.512 and the 100 simple moving average (4 hours). It is also above the 23.6% Fib retracement level of the recent increase from the $0.4718 swing low to the $0.5354 high.<\/p>\n

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

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

On the upside, immediate resistance is near the $0.535 zone. The first resistance is near $0.545 and $0.550. The next key resistance might be $0.565. If there is a close above the $0.565 resistance, the price could start a strong rally. In the stated case, the price could rise toward the $0.600 region. Any more gains might call for a move toward $0.620.<\/p>\n

Another Decline in ADA?<\/h2>\n

If Cardano\u2019s price fails to climb above the $0.535 resistance level, it could start a fresh decline. Immediate support on the downside is near the $0.520 level.<\/p>\n

The next major support is near the $0.5040 level or the 50% Fib retracement level of the recent increase from the $0.4718 swing low to the $0.5354 high. A downside break below the $0.5040 level could open the doors for a test of $0.485. The next major support is near the $0.4720 level.<\/p>\n

Technical Indicators<\/p>\n

4 hours MACD \u2013 The MACD for ADA\/USD is losing 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 $0.520, $0.5040, and $0.4720.<\/p>\n

Major Resistance Levels \u2013 $0.5350, $0.550, and $0.600.<\/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-35944","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\/35944","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=35944"}],"version-history":[{"count":1,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/35944\/revisions"}],"predecessor-version":[{"id":35951,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/35944\/revisions\/35951"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=35944"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=35944"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=35944"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}