{"id":26804,"date":"2024-12-09T05:08:40","date_gmt":"2024-12-09T05:08:40","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=26804"},"modified":"2024-12-09T05:08:40","modified_gmt":"2024-12-09T05:08:40","slug":"cardano-ada-battles-resistance-a-fresh-surge-in-sight","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=26804","title":{"rendered":"Cardano (ADA) Battles Resistance: A Fresh Surge In Sight?"},"content":{"rendered":"

Cardano price started a downside correction from the $1.325 zone. ADA is consolidating and facing hurdles near the $1.20 and $1.240 levels.<\/em><\/p>\n

ADA price started a pullback after it failed to stay above $1.30.
\nThe price is trading below $1.20 and the 100-hourly simple moving average.
\nThere is a key bearish trend line forming with resistance at $1.20 on the hourly chart of the ADA\/USD pair (data source from Kraken).
\nThe pair could start another increase if it clears the $1.240 resistance zone.<\/p>\n

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

After struggling above $1.30, Cardano started a downside correction. ADA unperformed Bitcoin<\/a> and Ethereum<\/a> with a drop below the $1.20 level. The price even spiked below $1.150 before the bulls appeared.<\/p>\n

A low was formed at $1.1173 before the price started a fresh increase. There was a move above the $1.140 and $1.1550 resistance levels. The price surpassed the 50% Fib retracement level of the downward move from the $1.326 swing high to the $1.117 low.<\/p>\n

However, the bears are now active near the $1.25 zone. They protected the 61.8% Fib retracement level of the downward move from the $1.326 swing high to the $1.117 low.<\/p>\n

Cardano price is now trading below $1.20 and the 100-hourly simple moving average. On the upside, the price might face resistance near the $1.20 zone. There is also a key bearish trend line forming with resistance at $1.20 on the hourly chart of the ADA\/USD pair.<\/p>\n

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

The first resistance is near $1.2250. The next key resistance might be $1.2450. If there is a close above the $1.2450 resistance, the price could start a strong rally. In the stated case, the price could rise toward the $1.2780 region. Any more gains might call for a move toward $1.320.<\/p>\n

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

If Cardano\u2019s price fails to climb above the $1.20 resistance level, it could start another decline. Immediate support on the downside is near the $1.150 level.<\/p>\n

The next major support is near the $1.120 level. A downside break below the $1.120 level could open the doors for a test of $1.080. The next major support is near the $1.0450 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 $1.120 and $1.080.<\/p>\n

Major Resistance Levels \u2013 $1.20 and $1.2450.<\/p>","protected":false},"excerpt":{"rendered":"

Cardano price started a downside correction from the $1.325 zone. ADA is consolidating and facing hurdles near the $1.20 and $1.240 levels. ADA price started a pullback after it failed to stay above $1.30. The price is trading below $1.20 and the 100-hourly simple moving average. There is a key bearish trend line forming with […]<\/p>\n","protected":false},"author":0,"featured_media":26805,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-26804","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\/26804"}],"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=26804"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/26804\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/26805"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=26804"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=26804"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=26804"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}