{"id":33761,"date":"2025-01-07T05:08:40","date_gmt":"2025-01-07T05:08:40","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=33761"},"modified":"2025-01-07T05:08:40","modified_gmt":"2025-01-07T05:08:40","slug":"cardano-ada-momentum-builds-rally-has-more-room-to-run","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=33761","title":{"rendered":"Cardano (ADA) Momentum Builds: Rally Has More Room to Run"},"content":{"rendered":"

Cardano price started a fresh surge above the $1.00 zone. ADA is consolidating and might aim for a fresh increase above the $1.1150 level.<\/em><\/p>\n

ADA price started a downside correction from the $1.1150 zone.
\nThe price is trading above $1.00 and the 100-hourly simple moving average.
\nThere is a short-term rising channel forming with support at $1.075 on the hourly chart of the ADA\/USD pair (data source from Kraken).
\nThe pair could start another increase if it clears the $1.1150 resistance zone.<\/p>\n

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

After forming a base above the $0.80 level, Cardano started a fresh increase, beating Bitcoin<\/a> and Ethereum<\/a>. ADA surged above the $0.90 and $1.00 levels.<\/p>\n

The bulls even pushed the price above $1.120. A high was formed at $1.1156 and the price is now consolidating gains. There was a minor decline below $1.1120, but the price remained above the 23.6% Fib retracement level of the upward move from the $0.8373 swing low to the $1.1156 high.<\/p>\n

Cardano price is now trading above $1.00 and the 100-hourly simple moving average. There is also a short-term rising channel forming with support at $1.075 on the hourly chart of the ADA\/USD pair.<\/p>\n

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

On the upside, the price might face resistance near the $1.10 zone. The first resistance is near $1.1120. The next key resistance might be $1.1150. If there is a close above the $1.1150 resistance, the price could start a strong rally. In the stated case, the price could rise toward the $1.20 region. Any more gains might call for a move toward $1.250 in the near term.<\/p>\n

Downside Correction in ADA?<\/h2>\n

If Cardano\u2019s price fails to climb above the $1.1120 resistance level, it could start another decline. Immediate support on the downside is near the $1.080 level.<\/p>\n

The next major support is near the $1.050 level. A downside break below the $1.050 level could open the doors for a test of $0.975 or the 50% Fib retracement level of the upward move from the $0.8373 swing low to the $1.1156 high. The next major support is near the $0.950 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 $1.0800 and $1.050.<\/p>\n

Major Resistance Levels \u2013 $1.1120 and $1.1150.<\/p>","protected":false},"excerpt":{"rendered":"

Cardano price started a fresh surge above the $1.00 zone. ADA is consolidating and might aim for a fresh increase above the $1.1150 level. ADA price started a downside correction from the $1.1150 zone. The price is trading above $1.00 and the 100-hourly simple moving average. There is a short-term rising channel forming with support […]<\/p>\n","protected":false},"author":0,"featured_media":33762,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-33761","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\/33761"}],"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=33761"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/33761\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/33762"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=33761"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=33761"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=33761"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}