{"id":47157,"date":"2025-02-24T05:08:42","date_gmt":"2025-02-24T05:08:42","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=47157"},"modified":"2025-02-24T05:08:42","modified_gmt":"2025-02-24T05:08:42","slug":"cardano-ada-faces-renewed-selling-pressure-more-pain-ahead","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=47157","title":{"rendered":"Cardano (ADA) Faces Renewed Selling Pressure\u2014More Pain Ahead?"},"content":{"rendered":"

Cardano price started a fresh decline from the $0.820 zone. ADA is now consolidating losses and at risk of more losses below the $0.7350 level.<\/em><\/p>\n

ADA price started a fresh decline below the $0.80 and $0.7650 levels.
\nThe price is trading below $0.7750 and the 100-hourly simple moving average.
\nThere is a connecting bearish trend line forming with resistance at $0.7620 on the hourly chart of the ADA\/USD pair (data source from Kraken).
\nThe pair could start another increase if it clears the $0.7750 resistance zone.<\/p>\n

Cardano Price Climbs Above $0.750<\/h2>\n

After a decent increase, Cardano faced resistance near the $0.820 zone. ADA formed a short-term top and recently started a fresh decline, underperforming Bitcoin<\/a> and Ethereum<\/a>.<\/p>\n

There was a move below the $0.80 and $0.7650 levels. The bears were able to push the price below $0.750. A low was formed at $0.7362 and the price is now consolidating losses. It is well below the 23.6% Fib retracement level of the downward move from the $0.8191 swing high to the $0.7362 low.<\/p>\n

Cardano price is now trading below $0.7650 and the 100-hourly simple moving average. On the upside, the price might face resistance near the $0.750 zone. The first resistance is near $0.7620. There is also a connecting bearish trend line forming with resistance at $0.7620 on the hourly chart of the ADA\/USD pair.<\/p>\n

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

The trend line is close to the 50% Fib retracement level of the downward move from the $0.8191 swing high to the $0.7362 low. The next key resistance might be $0.7680. If there is a close above the $0.7680 resistance, the price could start a strong rally. In the stated case, the price could rise toward the $0.80 region. Any more gains might call for a move toward $0.850 in the near term.<\/p>\n

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

If Cardano\u2019s price fails to climb above the $0.7620 resistance level, it could start another decline. Immediate support on the downside is near the $0.7350 level.<\/p>\n

The next major support is near the $0.7320 level. A downside break below the $0.7320 level could open the doors for a test of $0.7150. The next major support is near the $0.70 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 $0.7350 and $0.7150.<\/p>\n

Major Resistance Levels \u2013 $0.7620 and $0.7680.<\/p>","protected":false},"excerpt":{"rendered":"

Cardano price started a fresh decline from the $0.820 zone. ADA is now consolidating losses and at risk of more losses below the $0.7350 level. ADA price started a fresh decline below the $0.80 and $0.7650 levels. The price is trading below $0.7750 and the 100-hourly simple moving average. There is a connecting bearish trend […]<\/p>\n","protected":false},"author":0,"featured_media":47158,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-47157","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\/47157"}],"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=47157"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/47157\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/47158"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=47157"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=47157"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=47157"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}