{"id":59584,"date":"2025-04-16T05:08:34","date_gmt":"2025-04-16T05:08:34","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=59584"},"modified":"2025-04-16T05:08:34","modified_gmt":"2025-04-16T05:08:34","slug":"cardano-ada-pressure-mounts-more-downside-on-the-horizon","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=59584","title":{"rendered":"Cardano (ADA) Pressure Mounts\u2014More Downside on the Horizon?"},"content":{"rendered":"

Cardano price started a fresh decline from the $0.680 zone. ADA is consolidating near $0.620 and remains at risk of more losses.<\/em><\/p>\n

ADA price started a recovery wave from the $0.5850 zone.
\nThe price is trading below $0.640 and the 100-hourly simple moving average.
\nThere is a connecting bearish trend line forming with resistance at $0.6350 on the hourly chart of the ADA\/USD pair (data source from Kraken).
\nThe pair could start another increase if it clears the $0.640 resistance zone.<\/p>\n

Cardano Price Faces Resistance<\/h2>\n

In the past few sessions, Cardano saw a fresh decline from the $0.680 level, like Bitcoin<\/a> and Ethereum<\/a>. ADA declined below the $0.650 and $0.640 support levels.<\/p>\n

A low was formed at $0.6040 and the price is now consolidating losses. There was a minor move above the $0.6120 level. The price tested the 23.6% Fib retracement level of the recent decline from the $0.6481 swing high to the $0.6040 low.<\/p>\n

Cardano price is now trading below $0.640 and the 100-hourly simple moving average. On the upside, the price might face resistance near the $0.6260 zone and the 50% Fib retracement level of the recent decline from the $0.6481 swing high to the $0.6040 low.<\/p>\n

The first resistance is near $0.6350. There is also a connecting bearish trend line forming with resistance at $0.6350 on the hourly chart of the ADA\/USD pair. The next key resistance might be $0.6480.<\/p>\n

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

If there is a close above the $0.6480 resistance, the price could start a strong rally. In the stated case, the price could rise toward the $0.680 region. Any more gains might call for a move toward $0.70 in the near term.<\/p>\n

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

If Cardano\u2019s price fails to climb above the $0.6350 resistance level, it could start another decline. Immediate support on the downside is near the $0.6040 level.<\/p>\n

The next major support is near the $0.60 level. A downside break below the $0.60 level could open the doors for a test of $0.580. The next major support is near the $0.5550 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 $0.6040 and $0.580.<\/p>\n

Major Resistance Levels \u2013 $0.6350 and $0.6480.<\/p>","protected":false},"excerpt":{"rendered":"

Cardano price started a fresh decline from the $0.680 zone. ADA is consolidating near $0.620 and remains at risk of more losses. ADA price started a recovery wave from the $0.5850 zone. The price is trading below $0.640 and the 100-hourly simple moving average. There is a connecting bearish trend line forming with resistance at […]<\/p>\n","protected":false},"author":0,"featured_media":59585,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-59584","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\/59584"}],"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=59584"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/59584\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/59585"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=59584"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=59584"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=59584"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}