{"id":37241,"date":"2025-01-20T05:18:58","date_gmt":"2025-01-20T05:18:58","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=37241"},"modified":"2025-01-20T05:18:58","modified_gmt":"2025-01-20T05:18:58","slug":"cardano-ada-slips-a-healthy-correction-or-bulls-losing-grip","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=37241","title":{"rendered":"Cardano (ADA) Slips: A Healthy Correction or Bulls Losing Grip?"},"content":{"rendered":"

Cardano price started a fresh decline below the $1.050 zone. ADA is consolidating and might struggle to start a fresh increase above the $1.0250 level.<\/em><\/p>\n

ADA price started a fresh decline from the $1.150 zone.
\nThe price is trading below $1.0550 and the 100-hourly simple moving average.
\nThere is a connecting bearish trend line forming with resistance at $1.040 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 Faces Hurdles<\/h2>\n

After struggling to stay above the $1.150 level, Cardano started a fresh decline unlike Bitcoin<\/a> and Ethereum<\/a>. ADA declined below the $1.050 and $1.0350 support levels.<\/p>\n

It even spiked below $1.00. A low was formed at $0.9615 and the price is now attempting to recover. There was a move above the $0.990 level. The price cleared the 23.6% Fib retracement level of the downward move from the $1.088 swing high to the $0.9615 low.<\/p>\n

Cardano price is now trading below $1.050 and the 100-hourly simple moving average. On the upside, the price might face resistance near the $1.0250 zone. It is near the 50% Fib retracement level of the downward move from the $1.088 swing high to the $0.9615 low.<\/p>\n

The first resistance is near $1.050. There is also a connecting bearish trend line forming with resistance at $1.040 on the hourly chart of the ADA\/USD pair. The next key resistance might be $1.0880. If there is a close above the $1.0880 resistance, the price could start a strong rally.<\/p>\n

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

In the stated case, the price could rise toward the $1.120 region. Any more gains might call for a move toward $1.1520 in the near term.<\/p>\n

Another Decline 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 $0.980 level.<\/p>\n

The next major support is near the $0.9650 level. A downside break below the $0.9650 level could open the doors for a test of $0.9200. The next major support is near the $0.880 level where the bulls might emerge.<\/p>\n

Technical Indicators<\/p>\n

Hourly MACD \u2013 The MACD for ADA\/USD is losing 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 $0.980 and $0.9650.<\/p>\n

Major Resistance Levels \u2013 $1.0250 and $1.0500.<\/p>","protected":false},"excerpt":{"rendered":"

Cardano price started a fresh decline below the $1.050 zone. ADA is consolidating and might struggle to start a fresh increase above the $1.0250 level. ADA price started a fresh decline from the $1.150 zone. The price is trading below $1.0550 and the 100-hourly simple moving average. There is a connecting bearish trend line forming […]<\/p>\n","protected":false},"author":0,"featured_media":37242,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-37241","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\/37241"}],"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=37241"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/37241\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/37242"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=37241"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=37241"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=37241"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}