Cardano (ADA) Rally on Hold: Will It Break Out Again Soon?

2024-11-12 07:58

Cardano price started a consolidation phase below the $0.6650 zone. ADA is holding gains and might aim for a fresh increase above $0.6500.

ADA price started a downside correction after a strong rally toward $0.6600. The price is trading above $0.580 and the 100-hourly simple moving average. There is a key contracting triangle forming with support at $0.5780 on the hourly chart of the ADA/USD pair (data source from Kraken). The pair could start another increase if it clears the $0.6060 resistance zone. Cardano Price Consolidates Gains

In the past few days, Cardano saw a major increase above the $0.40 resistance. ADA outpaced Bitcoin and Ethereum. There was a move above the $0.450 and $0.50 resistance levels.

It even cleared the $0.600 level. A high was formed at $0.6620 and the price is now consolidating gains. There was a minor decline below the $0.6120 level. The price dipped below the 23.6% Fib retracement level of the upward move from the $0.4277 swing low to the $0.6620 high.

However, the bulls are active above $0.5500 and the 50% Fib retracement level of the upward move from the $0.4277 swing low to the $0.6620 high. Cardano price is now trading above $0.580 and the 100-hourly simple moving average.

There is also a key contracting triangle forming with support at $0.5780 on the hourly chart of the ADA/USD pair. On the upside, the price might face resistance near the $0.6060 zone. The first resistance is near $0.6230. The next key resistance might be $0.6450.

If there is a close above the $0.6450 resistance, the price could start a strong rally. In the stated case, the price could rise toward the $0.6800 region. Any more gains might call for a move toward $0.700.

More Losses in ADA?

If Cardano’s price fails to climb above the $0.6060 resistance level, it could start another decline. Immediate support on the downside is near the $0.5780 level.

The next major support is near the $0.550 level. A downside break below the $0.550 level could open the doors for a test of $0.5180. The next major support is near the $0.500 level where the bulls might emerge.

Technical Indicators

Hourly MACD – The MACD for ADA/USD is losing momentum in the bearish zone.

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

Major Support Levels – $0.5780 and $0.5500.

Major Resistance Levels – $0.6060 and $0.6450.

origin »

Cardano (ADA) на Currencies.ru

$ 0.8568 (-0.26%)
Объем 24H $913.82m
Изменеия 24h: -1.40 %, 7d: -4.83 %
Cегодня L: $0.8424 - H: $0.8738
Капитализация $30.109b Rank 9
Доступно / Всего 35.14b ADA / 45b ADA

ada started price cardano rally fresh aim

Источник: newsbtc.com

ada started → Результатов: 106


Фото:

Crypto enthusiasts believe DigiToads (TOADS) has the biggest potential in 2023 as they praise the innovative technology behind ETH, ADA

The cryptocurrency market has been abuzz with chatter about Ethereum (ETH) and Cardano (ADA), two of the most well-known and innovative blockchain platforms. However, savvy adherents have started to turn their attention towards DigiToads (TOADS), a new meme coin with a unique combination of features that could make it one of the most worthwhile assets […]

2023-5-14 01:26


дальше еще 57 новостей →

Партнеры Currencies.ru



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Cardano's road to recovery: Analyzing the potential for a $6 rally

ADA has declined by 8.77% over the past 24 hours. Market fundamentals show strong bearish outlook while an analyst predict a rally after correction. Since hitting $1.3, Cardano [ADA] has stThe post Cardano's road to recovery: Analyzing the potential for a $6 rally appeared first on AMBCrypto.