{"id":31192,"date":"2024-12-26T05:08:17","date_gmt":"2024-12-26T05:08:17","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=31192"},"modified":"2024-12-26T05:08:17","modified_gmt":"2024-12-26T05:08:17","slug":"cardano-ada-struggles-to-hold-ground-another-drop-incoming","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=31192","title":{"rendered":"Cardano (ADA) Struggles to Hold Ground: Another Drop Incoming?"},"content":{"rendered":"

Cardano price started a downside correction below the $1.00 zone. ADA is consolidating and facing hurdles near the $0.920 and $0.950 levels.<\/em><\/p>\n

ADA price started a downward move below the $1.00 support zone.
\nThe price is trading below $0.950 and the 100-hourly simple moving average.
\nThere is a connecting bearish trend line forming with resistance at $0.92 on the hourly chart of the ADA\/USD pair (data source from Kraken).
\nThe pair could start another increase if it clears the $0.950 resistance zone.<\/p>\n

Cardano Price Starts Fresh Decline<\/h2>\n

After struggling to clear the $1.00 resistance zone, Cardano started a fresh decline, like Bitcoin<\/a> and Ethereum<\/a>. ADA declined below the $0.9650 and $0.950 support levels.<\/p>\n

The recent high was formed at $0.9495 before the price dipped. There was a move below the $0.920 support level. The price declined below the 50% Fib retracement level of the upward move from the $0.8628 swing low to the $0.9495 high.<\/p>\n

Cardano price is now trading below $0.925 and the 100-hourly simple moving average. On the upside, the price might face resistance near the $0.920 zone. There is also a connecting bearish trend line forming with resistance at $0.92 on the hourly chart of the ADA\/USD pair.<\/p>\n

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

The first resistance is near $0.9350. The next key resistance might be $0.950. If there is a close above the $0.950 resistance, the price could start a strong rally. In the stated case, the price could rise toward the $1.00 region. Any more gains might call for a move toward $1.050 in the near term.<\/p>\n

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

If Cardano\u2019s price fails to climb above the $0.920 resistance level, it could start another decline. Immediate support on the downside is near the $0.8950 level or the 61.8% Fib retracement level of the upward move from the $0.8628 swing low to the $0.9495 high.<\/p>\n

The next major support is near the $0.865 level. A downside break below the $0.8650 level could open the doors for a test of $0.820. The next major support is near the $0.8050 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 $0.8950 and $0.8650.<\/p>\n

Major Resistance Levels \u2013 $0.920 and $0.950.<\/p>","protected":false},"excerpt":{"rendered":"

Cardano price started a downside correction below the $1.00 zone. ADA is consolidating and facing hurdles near the $0.920 and $0.950 levels. ADA price started a downward move below the $1.00 support zone. The price is trading below $0.950 and the 100-hourly simple moving average. There is a connecting bearish trend line forming with resistance […]<\/p>\n","protected":false},"author":0,"featured_media":31193,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-31192","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\/31192"}],"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=31192"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/31192\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/31193"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=31192"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=31192"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=31192"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}