ADA Price Plunges 5%, Can Buyers Save The Key $0.275 Support?

2023-8-16 07:38

Cardano’s price started a fresh decline from well above $0.30. ADA is testing $0.275 and remains at risk of more downsides in the near term.

ADA price is gaining bearish momentum below the $0.30 level against the US dollar. The price is trading above $0.288 and the 100 simple moving average (4 hours). There is a major bearish trend line forming with resistance near $0.288 on the 4-hour chart of the ADA/USD pair (data source from Kraken). The pair could start a recovery wave if there is a close above the $0.30 resistance. Cardano’s ADA Price Extends Losses

In the past few days, Cardano’s price saw a fresh decline from well above $0.308. The price traded below the $0.300 and $0.288 support levels to move into a bearish zone, similar to Bitcoin and Ethereum.

The price even declined below $0.280 and tested the $0.275 support. A low is formed near $0.2752 and the price is now consolidating losses. It is now trading near the 23.6% Fib retracement level of the downward move from the $0.3018 swing high to the $0.2752 low.

ADA price is now trading below $0.288 and the 100 simple moving average (4 hours). There is also a major bearish trend line forming with resistance near $0.288 on the 4-hour chart of the ADA/USD pair.

On the upside, immediate resistance is near the $0.285 zone. The first major resistance is forming near the $0.288 zone and the trend line. It is close to the 50% Fib retracement level of the downward move from the $0.3018 swing high to the $0.2752 low.

Source: ADAUSD on TradingView.com

The next key resistance might be $0.300. If there is a close above the $0.300 resistance, the price could start a decent increase. In the stated case, the price could rise toward the $0.320 resistance zone.

More Losses in ADA?

If Cardano’s price fails to climb above the $0.288 resistance level, it could start another decline. Immediate support on the downside is near the $0.275 level.

The next major support is near the $0.262 level. A downside break below the $0.262 level could open the doors for a sharp fresh decline toward $0.235. The next major support is near the $0.220 level.

Technical Indicators

4 hours MACD – The MACD for ADA/USD is gaining momentum in the bearish zone.

4 hours RSI (Relative Strength Index) – The RSI for ADA/USD is now below the 50 level.

Major Support Levels – $0.275, $0.262, and $0.235.

Major Resistance Levels – $0.285, $0.288, and $0.300.

origin »

Cardano (ADA) на Currencies.ru

$ 0.961 (+0.19%)
Объем 24H $808.569m
Изменеия 24h: 3.17 %, 7d: -0.29 %
Cегодня L: $0.9393 - H: $0.9692
Капитализация $33.812b Rank 9
Цена в час новости $ 0.279 (244.44%)

ada price 275 near term downsides risk

Источник: newsbtc.com

ada price → Результатов: 126


Is Cardano Price Set to Explode? Key Chart Patterns Suggest What’s Next for ADA

The price of ADA has been showing interesting patterns. The daily chart shows a symmetrical triangle forming—a pattern that often hints at where the price might go next. Prominent analyst Freedom By 40 posted about it on X (formerly Twitter), saying, “$ADA looks great for continuation,” showing some faith in the market’s direction.

2024-12-29 10:00


Cardano (ADA) Price Bound for Another Correction Despite Already Immense Fall

To conclude, there are three reasons why the ADA price trend is considered bearish: The breakdown from the $0.350 horizontal area The invalidation of the bullish divergence trendline in the weekly RSI ADA's long-term descending resistance line The post Cardano (ADA) Price Bound for Another Correction Despite Already Immense Fall appeared first on BeInCrypto.

2022-12-29 19:45


дальше еще 77 новостей →

Партнеры Currencies.ru



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Cardano’s Plomin Hard Fork: A Catalyst for ADA Growth Amidst Market Volatility?

As it moves through a dynamic crypto market and recent watershed moments become crystallized, Cardano (ADA) finds itself more and more at a point of potentially great significance. In this transitional moment, it has introduced decentralized governance, and what that really means is that ADA holders now have the power to effectively vote on major [...]

All the reasons why Cardano's price might rally by 40% soon

Cardano’s symmetrical triangle pattern could lead to a major price surge or downside risk Whale activity and broader market trends will shape the altcoin's next price action Cardano [ADA] The post All the reasons why Cardano's price might rally by 40% soon appeared first on AMBCrypto.

Cardano: Assessing how ADA can rally past $2 in Q1 2025

Cardano could rally to $2.47 if it repeats past patterns and breaks resistance at $1.09.  A spike in the number of daily active addresses suggested rising interest in ADA and the Cardano netwoThe post Cardano: Assessing how ADA can rally past $2 in Q1 2025 appeared first on AMBCrypto.