{"id":21929,"date":"2024-11-20T05:08:24","date_gmt":"2024-11-20T05:08:24","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=21929"},"modified":"2024-11-20T05:08:24","modified_gmt":"2024-11-20T05:08:24","slug":"cardano-ada-sets-sights-on-new-gains-is-a-surge-imminent","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=21929","title":{"rendered":"Cardano (ADA) Sets Sights on New Gains: Is a Surge Imminent?"},"content":{"rendered":"

Cardano price started a consolidation phase above the $0.700 zone. ADA is holding gains and might aim for a fresh increase above $0.7880.<\/em><\/p>\n

ADA price started a downside correction after a strong rally toward $0.8200.
\nThe price is trading above $0.740 and the 100-hourly simple moving average.
\nThere was a break above a short-term contracting triangle with resistance at $0.7550 on the hourly chart of the ADA\/USD pair (data source from Kraken).
\nThe pair could start another increase if it clears the $0.7880 resistance zone.<\/p>\n

Cardano Price Holds Gains Above Support<\/h2>\n

In the past few days, Cardano saw a major increase above the $0.50 resistance. ADA outpaced Bitcoin<\/a> and Ethereum<\/a>. There was a move above the $0.650 and $0.750 resistance levels.<\/p>\n

It even cleared the $0.800 level. A high was formed at $0.8199 before there was a pullback. The price tested the $0.6880 support and is currently rising. There was a move above the $0.740 resistance. The price climbed above the 50% Fib retracement level of the downward move from the $0.8199 swing high to the $0.6893 low.<\/p>\n

Besides, there was a break above a short-term contracting triangle with resistance at $0.7550 on the hourly chart of the ADA\/USD pair. Cardano price is now trading above $0.740 and the 100-hourly simple moving average.<\/p>\n

On the upside, the price might face resistance near the $0.7750 zone. The first resistance is near $0.7880 or the 76.4% Fib retracement level of the downward move from the $0.8199 swing high to the $0.6893 low. The next key resistance might be $0.8180.<\/p>\n

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

If there is a close above the $0.8180 resistance, the price could start a strong rally. In the stated case, the price could rise toward the $0.8800 region. Any more gains might call for a move toward $0.950.<\/p>\n

Are Dips Supported in ADA?<\/h2>\n

If Cardano\u2019s price fails to climb above the $0.7880 resistance level, it could start another decline. Immediate support on the downside is near the $0.750 level.<\/p>\n

The next major support is near the $0.740 level. A downside break below the $0.740 level could open the doors for a test of $0.6880. The next major support is near the $0.600 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 bullish zone.<\/p>\n

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

Major Support Levels \u2013 $0.7400 and $0.7200.<\/p>\n

Major Resistance Levels \u2013 $0.7880 and $0.8180.<\/p>","protected":false},"excerpt":{"rendered":"

Cardano price started a consolidation phase above the $0.700 zone. ADA is holding gains and might aim for a fresh increase above $0.7880. ADA price started a downside correction after a strong rally toward $0.8200. The price is trading above $0.740 and the 100-hourly simple moving average. There was a break above a short-term contracting […]<\/p>\n","protected":false},"author":0,"featured_media":21930,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-21929","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\/21929"}],"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=21929"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/21929\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/21930"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=21929"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=21929"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=21929"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}