{"id":24144,"date":"2024-11-28T05:08:41","date_gmt":"2024-11-28T05:08:41","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=24144"},"modified":"2024-11-28T05:08:41","modified_gmt":"2024-11-28T05:08:41","slug":"cardano-ada-eyes-momentum-for-its-next-big-move","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=24144","title":{"rendered":"Cardano (ADA) Eyes Momentum for Its Next Big Move"},"content":{"rendered":"

Cardano price started a consolidation phase near the $1.00 zone. ADA is holding gains and might aim for a fresh increase above $1.050.<\/em><\/p>\n

ADA price started a fresh increase from the $0.8800 zone.
\nThe price is trading above $0.950 and the 100-hourly simple moving average.
\nThere is a key bearish trend line forming with resistance at $1.020 on the hourly chart of the ADA\/USD pair (data source from Kraken).
\nThe pair could start another increase if it clears the $1.050 resistance zone.<\/p>\n

Cardano Price Eyes Fresh Surge<\/h2>\n

In the past few days, Cardano saw a fresh increase above the $0.850 resistance. ADA remained in a positive zone like Bitcoin<\/a> and Ethereum<\/a>. There was a move above the $0.880 and $0.9250 resistance levels.<\/p>\n

The price surpassed the 50% Fib retracement level of the downward move from the $1.150 swing high to the $0.8696 low. It even cleared the $1.00 level. However, the bears are now active near the $1.050 zone. There is also a key bearish trend line forming with resistance at $1.020 on the hourly chart of the ADA\/USD pair.<\/p>\n

The trend line is close to the 61.8% Fib retracement level of the downward move from the $1.150 swing high to the $0.8696 low. Cardano price is now trading above $0.950 and the 100-hourly simple moving average.<\/p>\n

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

On the upside, the price might face resistance near the $1.020 zone. The first resistance is near $1.050. The next key resistance might be $1.0840. If there is a close above the $1.0840 resistance, the price could start a strong rally. In the stated case, the price could rise toward the $1.1500 region. Any more gains might call for a move toward $1.20.<\/p>\n

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

If Cardano\u2019s price fails to climb above the $1.050 resistance level, it could start another decline. Immediate support on the downside is near the $0.9650 level.<\/p>\n

The next major support is near the $0.9350 level. A downside break below the $0.9350 level could open the doors for a test of $0.880. The next major support is near the $0.8450 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 $0.9650 and $0.9350.<\/p>\n

Major Resistance Levels \u2013 $1.0200 and $1.0500.<\/p>","protected":false},"excerpt":{"rendered":"

Cardano price started a consolidation phase near the $1.00 zone. ADA is holding gains and might aim for a fresh increase above $1.050. ADA price started a fresh increase from the $0.8800 zone. The price is trading above $0.950 and the 100-hourly simple moving average. There is a key bearish trend line forming with resistance […]<\/p>\n","protected":false},"author":0,"featured_media":24145,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-24144","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\/24144"}],"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=24144"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/24144\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/24145"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=24144"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=24144"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=24144"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}