- ADA price is trading in a bearish zone below the $0.520 support zone against the US Dollar.
- The price is now trading below $0.500 and the 55 simple moving average (4 hours).
- There is a connecting bearish trend line forming with resistance near $0.4940 on the 4-hour chart (data feed via Coinbase).
- The price could continue to move down if it stays below the $0.520 resistance zone.
Cardano price is struggling below $0.520 against the US Dollar, like Bitcoin. ADA price could start a fresh increase if it clears the $0.500 and $0.520 resistance levels.
Cardano Price (ADA) Analysis
In the past few days, Cardano price started a fresh decline from the $0.550 resistance against the US Dollar. The ADA/USD pair declined below the $0.520 and $0.500 support levels.
The price even declined below the $0.440 support and the 55 simple moving average (4 hours). It revisited the $0.4050 support zone. A low has formed near $0.4051 and the price is now consolidating losses. There was a minor increase above the 23.6% Fib retracement level of the recent decline from the $0.6241 swing high to the $0.4051 low.
On the upside, immediate resistance is near the $0.4950 zone. There is also a connecting bearish trend line forming with resistance near $0.4940 on the 4-hour chart.
The first major resistance is near the $0.5150 level or the 50% Fib retracement level of the recent decline from the $0.6241 swing high to the $0.4051 low. The next key resistance could be $0.5200 or the 55 simple moving average (4 hours)
A clear upside break above the $0.520 level might send the price toward the $0.550 resistance. Any more gains could start a steady increase toward the $0.600 level or even $0.6250.
On the downside, immediate support is near the $0.440 level. The next major support is near the $0.4050 level, below which the price may perhaps decline toward the $0.3850 support level. Any more losses might call for a test of the $0.350 level.
The chart indicates that ADA price is now trading below $0.500 and the 55 simple moving average (4 hours). Overall, the price could continue to move down if it stays below the $0.520 resistance zone.
Technical Indicators
4 hours MACD – The MACD for ADA/USD is now losing pace in the bearish zone.
4 hours RSI – The RSI for ADA/USD is now below the 50 level.
Key Support Levels – $0.440 and $0.4050.
Key Resistance Levels – $0.5000 and $0.5200.
- SEO Powered Content & PR Distribution. Get Amplified Today.
- PlatoData.Network Vertical Generative Ai. Empower Yourself. Access Here.
- PlatoAiStream. Web3 Intelligence. Knowledge Amplified. Access Here.
- PlatoESG. Carbon, CleanTech, Energy, Environment, Solar, Waste Management. Access Here.
- PlatoHealth. Biotech and Clinical Trials Intelligence. Access Here.
- Source: https://www.livebitcoinnews.com/cardano-ada-price-analysis-bears-in-action-below-0-52/
- :has
- :is
- 23
- 350
- 4
- 440
- 50
- 500
- 5000
- 52
- 55
- a
- above
- Action
- ADA
- ada price
- ADA/USD
- against
- also
- analysis
- and
- any
- average
- BE
- bearish
- Bears
- below
- Bitcoin
- Bitcoin News
- Break
- call
- Cardano
- Cardano (ADA)
- cardano price
- Chart
- clear
- coinbase
- Connecting
- consolidating
- continue
- could
- data
- Days
- Decline
- Dollar
- down
- downside
- Even
- few
- First
- For
- formed
- forming
- fresh
- fresh increase
- from
- Gains
- High
- HOURS
- HTTPS
- if
- immediate
- in
- Increase
- indicates
- IT
- Key
- key resistance
- Level
- levels
- like
- Line
- live
- Live Bitcoin News
- losing
- losses
- Low
- MACD
- major
- max-width
- May..
- might
- minor
- more
- move
- moving
- moving average
- Near
- news
- next
- now
- of
- on
- or
- overall
- Pace
- pair
- past
- perhaps
- plato
- Plato Data Intelligence
- PlatoData
- price
- Price Analysis
- recent
- Resistance
- retracement
- rsi
- send
- Simple
- start
- started
- stays
- steady
- Struggling
- support
- support level
- support levels
- Swing
- test
- that
- The
- There.
- to
- toward
- Trading
- TradingView
- Trend
- Upside
- us
- US Dollar
- via
- was
- which
- with
- zephyrnet
- zone