{"id":16092,"date":"2024-10-24T04:58:04","date_gmt":"2024-10-24T04:58:04","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=16092"},"modified":"2024-10-24T04:58:04","modified_gmt":"2024-10-24T04:58:04","slug":"cardano-ada-struggles-to-build-bullish-momentum-will-it-turn-around","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=16092","title":{"rendered":"Cardano (ADA) Struggles to Build Bullish Momentum: Will It Turn Around?"},"content":{"rendered":"

Cardano price started a fresh decline below the $0.3550 zone. ADA is consolidating above $0.3400 and might attempt a recovery wave.<\/em><\/p>\n

ADA price started a downward move below the $0.3500 support level.
\nThe price is trading below $0.3550 and the 100-hourly simple moving average.
\nThere was a break below a key bullish trend line with support at $0.3600 on the hourly chart of the ADA\/USD pair (data source from Kraken).
\nThe pair could attempt a recovery wave if it clears the $0.3585 resistance zone.<\/p>\n

Cardano Price Consolidates Losses<\/h2>\n

After testing the $0.3685 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 $0.3550 and $0.3500 support levels.<\/p>\n

There was a break below a key bullish trend line with support at $0.3600 on the hourly chart of the ADA\/USD pair. The price even declined below $0.3440 before the bulls appeared. A low was formed at $0.3420 and the price is now correcting losses. There was a minor move above the $0.3480 level.<\/p>\n

The price cleared the 23.6% Fib retracement level of the downward move from the $0.3685 swing high to the $0.3420 low. Cardano price is now trading below $0.3550 and the 100-hourly simple moving average.<\/p>\n

On the upside, the price might face resistance near the $0.3550 zone or the 50% Fib retracement level of the downward move from the $0.3685 swing high to the $0.3420 low. The first resistance is near $0.3585. The next key resistance might be $0.3685.<\/p>\n

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

If there is a close above the $0.3685 resistance, the price could start a strong rally. In the stated case, the price could rise toward the $0.3780 region. Any more gains might call for a move toward $0.3950.<\/p>\n

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

If Cardano\u2019s price fails to climb above the $0.3550 resistance level, it could start another decline. Immediate support on the downside is near the $0.3480 level.<\/p>\n

The next major support is near the $0.3420 level. A downside break below the $0.3420 level could open the doors for a test of $0.3250. The next major support is near the $0.3120 level where the bulls might emerge.<\/p>\n

Technical Indicators<\/p>\n

Hourly MACD \u2013 The MACD for ADA\/USD is losing 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 $0.3450 and $0.3420.<\/p>\n

Major Resistance Levels \u2013 $0.3550 and $0.3685.<\/p>","protected":false},"excerpt":{"rendered":"

Cardano price started a fresh decline below the $0.3550 zone. ADA is consolidating above $0.3400 and might attempt a recovery wave. ADA price started a downward move below the $0.3500 support level. The price is trading below $0.3550 and the 100-hourly simple moving average. There was a break below a key bullish trend line with […]<\/p>\n","protected":false},"author":0,"featured_media":16093,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-16092","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\/16092"}],"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=16092"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/16092\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/16093"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=16092"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=16092"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=16092"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}