Cardano\u2019s price started a major decline after it broke the key $0.4200 support. ADA could continue to move down unless it settles above the $0.50 pivot level.<\/p>\n
ADA price is showing a lot of bearish signs below the $0.420 support against the US dollar.
\nThe price is trading well below $0.400 and the 100 simple moving average (4-hours).
\nThere are two bearish trend lines forming with resistance at $0.3700 and $0.3880 on the 4-hours chart of the ADA\/USD pair (data source from Kraken).
\nThe pair could continue to move down below the $0.3500 support zone.<\/p>\n
Cardano (ADA) Price Signals Bearish Wave<\/p>\n
In the past few days, cardano\u2019s price saw a steady decline from well above the $0.5000 level. The bears were able to push the price below the key $0.450 and $0.420 support levels.<\/p>\n
The decline gained pace below the $0.400 level and the 100 simple moving average (4-hours). A low was formed near the $0.3500 level and the price started a minor upward move, similar to bitcoin<\/a> and ethereum<\/a>. ADA price climbed above the $0.3620 and $0.3700 levels.<\/p>\n There was a move above the 23.6% Fib retracement level of the downward move from the $0.4265 swing high to $0.3500 low. However, the price failed to continue higher and settled below $0.3800.<\/p>\n On the upside, an immediate resistance is near the $0.3700 zone. There are also two bearish trend lines forming with resistance at $0.3700 and $0.3880 on the 4-hours chart of the ADA\/USD pair. The first major resistance is forming near the $0.3880 zone.<\/p>\n <\/a><\/p>\n Source: ADAUSD on TradingView.com<\/a><\/p>\n The 50% Fib retracement level of the downward move from the $0.4265 swing high to $0.3500 low is also near $0.3880. The main resistance is now forming near the $0.4080 level and the 100 simple moving average (4-hours). If there is an upside break above the $0.408 and $0.420 resistance levels, the price could start a strong increase. In the stated case, the price could rise steadily towards the $0.50 level.<\/p>\n More Pain?<\/p>\n If cardano\u2019s price fails to recover above the $0.3880 and $0.400 resistance levels, it could continue to move down. An immediate support on the downside is near the $0.360 level.<\/p>\n The main support is near the $0.350 level. A downside break below the $0.350 level could open the doors for a fresh decline towards $0.320. The next major support is near the $0.300 level.<\/p>\n Technical Indicators<\/p>\n 4-hours MACD \u2013 The MACD for ADA\/USD is slowly losing momentum in the bullish 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 $0.360, $0.350 and $0.300.<\/p>\n Major Resistance Levels \u2013 $0.3700, $0.388 and $0.408.<\/p>","protected":false},"excerpt":{"rendered":" <\/p>\n Cardano\u2019s price started a major decline after it broke the key $0.4200 support. ADA could continue to move down unless it settles above the $0.50 pivot level.<\/p>\n ADA price is showing a lot of bearish signs below the $0.420 support against the US dollar. Cardano (ADA) Price Signals Bearish Wave<\/p>\n In the past few days, cardano\u2019s price saw a steady decline from well above the $0.5000 level. The bears were able to push the price below the key $0.450 and $0.420 support levels.<\/p>\n The decline gained pace below the $0.400 level and the 100 simple moving average (4-hours). A low was formed near the $0.3500 level and the price started a minor upward move, similar to bitcoin<\/a> and ethereum<\/a>. ADA price climbed above the $0.3620 and $0.3700 levels.<\/p>\n There was a move above the 23.6% Fib retracement level of the downward move from the $0.4265 swing high to $0.3500 low. However, the price failed to continue higher and settled below $0.3800.<\/p>\n On the upside, an immediate resistance is near the $0.3700 zone. There are also two bearish trend lines forming with resistance at $0.3700 and $0.3880 on the 4-hours chart of the ADA\/USD pair. The first major resistance is forming near the $0.3880 zone.<\/p>\n
\nThe price is trading well below $0.400 and the 100 simple moving average (4-hours).
\nThere are two bearish trend lines forming with resistance at $0.3700 and $0.3880 on the 4-hours chart of the ADA\/USD pair (data source from Kraken).
\nThe pair could continue to move down below the $0.3500 support zone.<\/p>\n
![<\/a><\/p>\nSource: ADAUSD on TradingView.com<\/a><\/p>\nThe 50% Fib retracement level of the downward move from the $0.4265 swing high to $0.3500 low is also near $0.3880. The main resistance is now forming near the $0.4080 level and the 100 simple moving average (4-hours). If there is an upside break above the $0.408 and $0.420 resistance levels, the price could start a strong increase. In the stated case, the price could rise steadily towards the $0.50 level.<\/p>\nMore Pain?<\/p>\nIf cardano\u2019s price fails to recover above the $0.3880 and $0.400 resistance levels, it could continue to move down. An immediate support on the downside is near the $0.360 level.<\/p>\nThe main support is near the $0.350 level. A downside break below the $0.350 level could open the doors for a fresh decline towards $0.320. The next major support is near the $0.300 level.<\/p>\nTechnical Indicators<\/p>\n4-hours MACD \u2013 The MACD for ADA\/USD is slowly losing momentum in the bullish zone.<\/p>\n4-hours RSI (Relative Strength Index) \u2013 The RSI for ADA\/USD is now below the 50 level.<\/p>\nMajor Support Levels \u2013 $0.360, $0.350 and $0.300.<\/p>\nMajor Resistance Levels \u2013 $0.3700, $0.388 and $0.408.<\/p>","protected":false},"excerpt":{"rendered":"<\/p>\nCardano\u2019s price started a major decline after it broke the key $0.4200 support. ADA could continue to move down unless it settles above the $0.50 pivot level.<\/p>\nADA price is showing a lot of bearish signs below the $0.420 support against the US dollar.\nThe price is trading well below $0.400 and the 100 simple moving average (4-hours).\nThere are two bearish trend lines forming with resistance at $0.3700 and $0.3880 on the 4-hours chart of the ADA\/USD pair (data source from Kraken).\nThe pair could continue to move down below the $0.3500 support zone.<\/p>\nCardano (ADA) Price Signals Bearish Wave<\/p>\nIn the past few days, cardano\u2019s price saw a steady decline from well above the $0.5000 level. The bears were able to push the price below the key $0.450 and $0.420 support levels.<\/p>\nThe decline gained pace below the $0.400 level and the 100 simple moving average (4-hours). A low was formed near the $0.3500 level and the price started a minor upward move, similar to bitcoin<\/a> and ethereum<\/a>. ADA price climbed above the $0.3620 and $0.3700 levels.<\/p>\nThere was a move above the 23.6% Fib retracement level of the downward move from the $0.4265 swing high to $0.3500 low. However, the price failed to continue higher and settled below $0.3800.<\/p>\nOn the upside, an immediate resistance is near the $0.3700 zone. There are also two bearish trend lines forming with resistance at $0.3700 and $0.3880 on the 4-hours chart of the ADA\/USD pair. The first major resistance is forming near the $0.3880 zone.<\/p>\n<\/a><\/p>\nSource: ADAUSD on TradingView.com<\/a><\/p>\nThe 50% Fib retracement level of the downward move from the $0.4265 swing high to $0.3500 low is also near $0.3880. The main resistance is now forming near the $0.4080 level and the 100 simple moving average (4-hours). If there is an upside break above the $0.408 and $0.420 resistance levels, the price could start a strong increase. In the stated case, the price could rise steadily towards the $0.50 level.<\/p>\nMore Pain?<\/p>\nIf cardano\u2019s price fails to recover above the $0.3880 and $0.400 resistance levels, it could continue to move down. An immediate support on the downside is near the $0.360 level.<\/p>\nThe main support is near the $0.350 level. A downside break below the $0.350 level could open the doors for a fresh decline towards $0.320. The next major support is near the $0.300 level.<\/p>\nTechnical Indicators<\/p>\n4-hours MACD \u2013 The MACD for ADA\/USD is slowly losing momentum in the bullish zone.<\/p>\n4-hours RSI (Relative Strength Index) \u2013 The RSI for ADA\/USD is now below the 50 level.<\/p>\nMajor Support Levels \u2013 $0.360, $0.350 and $0.300.<\/p>\nMajor Resistance Levels \u2013 $0.3700, $0.388 and $0.408.<\/p>\n<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"colormag_page_layout":"default_layout","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[82],"tags":[],"class_list":["post-9890","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\/9890","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=9890"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/9890\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=9890"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=9890"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=9890"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}](\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/10\/Cardano-ADA.png\"){kind=link}