{"id":11174,"date":"2024-10-03T05:08:05","date_gmt":"2024-10-03T05:08:05","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=11174"},"modified":"2024-10-03T05:08:05","modified_gmt":"2024-10-03T05:08:05","slug":"cardano-ada-struggles-can-bulls-prevent-further-losses","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=11174","title":{"rendered":"Cardano (ADA) Struggles: Can Bulls Prevent Further Losses?"},"content":{"rendered":"

Cardano price started a fresh decline from the $0.3850 resistance. ADA is consolidating above $0.3350 and might attempt a recovery wave.<\/em><\/p>\n

ADA price started a downward move below the $0.3550 support level.
\nThe price is trading below $0.350 and the 100-hourly simple moving average.
\nThere is a short-term bearish trend line forming with resistance at $0.3480 on the hourly chart of the ADA\/USD pair (data source from Kraken).
\nThe pair could continue to move down if it stays below the $0.360 resistance zone.<\/p>\n

Cardano Price Dips Again<\/h2>\n

After testing the $0.4150 resistance, Cardano struggled to continue higher. ADA formed a short-term top and started a fresh decline like Bitcoin<\/a> and Ethereum<\/a>. There was a move below the $0.3850 and $0.3650 support levels.<\/p>\n

The price even declined below $0.350 before the bulls appeared. A low was formed at $0.3360 and the price is now consolidating losses. There was a minor move above the $0.3420 level. The price tested the 23.6% Fib retracement level of the downward move from the $0.3853 swing high to the $0.3360 low.<\/p>\n

Cardano price is now trading below $0.360 and the 100-hourly simple moving average. On the upside, the price might face resistance near the $0.3500 zone. There is also a short-term bearish trend line forming with resistance at $0.3480 on the hourly chart of the ADA\/USD pair.<\/p>\n

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

The first resistance is near $0.360 or the 50% Fib retracement level of the downward move from the $0.3853 swing high to the $0.3360 low. The next key resistance might be $0.3740. If there is a close above the $0.3740 resistance, the price could start a strong rally. In the stated case, the price could rise toward the $0.400 region. Any more gains might call for a move toward $0.4150.<\/p>\n

More Downsides in ADA?<\/h2>\n

If Cardano\u2019s price fails to climb above the $0.3500 resistance level, it could start another decline. Immediate support on the downside is near the $0.340 level.<\/p>\n

The next major support is near the $0.3350 level. A downside break below the $0.3350 level could open the doors for a test of $0.3220. The next major support is near the $0.300 level where the bulls might emerge.<\/p>\n

Technical Indicators<\/p>\n

Hourly MACD \u2013 The MACD for ADA\/USD is gaining momentum in the bearish zone.<\/p>\n

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

Major Support Levels \u2013 $0.3400 and $0.3350.<\/p>\n

Major Resistance Levels \u2013 $0.3500 and $0.3600.<\/p>","protected":false},"excerpt":{"rendered":"

Cardano price started a fresh decline from the $0.3850 resistance. ADA is consolidating above $0.3350 and might attempt a recovery wave. ADA price started a downward move below the $0.3550 support level. The price is trading below $0.350 and the 100-hourly simple moving average. There is a short-term bearish trend line forming with resistance at […]<\/p>\n","protected":false},"author":0,"featured_media":11175,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-11174","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/11174"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=11174"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/11174\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/11175"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=11174"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=11174"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=11174"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}