• Advertise
  • Submit a Press Release
  • About Us
NewsBTC
Bitcoin & cryptocurrency news
Sensei Inu Logo
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
    • Gambling
      • Crypto Casinos
      • Real Money Casinos
    • Casinos not on Gamstop
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play GamesTry
  • Win 8.88 BTCTry
  • Play Casino GamesTry
  • Play FinanceTry
No Result
View All Result
Breaking News: Fed Holds Interest Rates Steady, Bitcoin Awaits Trend Reversal Above $27,000
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
    • Gambling
      • Crypto Casinos
      • Real Money Casinos
    • Casinos not on Gamstop
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play GamesTry
  • Win 8.88 BTCTry
  • Play Casino GamesTry
  • Play FinanceTry
No Result
View All Result
Bitcoin News
No Result
View All Result
Breaking News: Fed Holds Interest Rates Steady, Bitcoin Awaits Trend Reversal Above $27,000
Cardano (ADA) Price Analysi
Sensei Inu Logo

Cardano (ADA) Price Prediction: More Pain Yet To Come

Aayush Jindal by Aayush Jindal
11 months ago
in ADA
Reading Time: 2 mins read

Cardano’s price started a major decline after it broke the key $0.4200 support. ADA could continue to move down unless it settles above the $0.50 pivot level.

  • ADA price is showing a lot of bearish signs below the $0.420 support against the US dollar.
  • The price is trading well below $0.400 and the 100 simple moving average (4-hours).
  • There are two bearish trend lines forming with resistance at $0.3700 and $0.3880 on the 4-hours chart of the ADA/USD pair (data source from Kraken).
  • The pair could continue to move down below the $0.3500 support zone.

Cardano (ADA) Price Signals Bearish Wave

In the past few days, cardano’s price saw a steady decline from well above the $0.5000 level. The bears were able to push the price below the key $0.450 and $0.420 support levels.

The decline gained pace below the $0.400 level and the 100 simple moving average (4-hours). A low was formed near the $0.3500 level and the price started a minor upward move, similar to bitcoin and ethereum. ADA price climbed above the $0.3620 and $0.3700 levels.

There was a move above the 23.6% Fib retracement level of the downward move from the $0.4265 swing high to $0.3500 low. However, the price failed to continue higher and settled below $0.3800.

On the upside, an immediate resistance is near the $0.3700 zone. There are also two bearish trend lines forming with resistance at $0.3700 and $0.3880 on the 4-hours chart of the ADA/USD pair. The first major resistance is forming near the $0.3880 zone.

Cardano (ADA) Price Prediction

Source: ADAUSD on TradingView.com

The 50% Fib retracement level of the downward move from the $0.4265 swing high to $0.3500 low is also near $0.3880. The main resistance is now forming near the $0.4080 level and the 100 simple moving average (4-hours). If there is an upside break above the $0.408 and $0.420 resistance levels, the price could start a strong increase. In the stated case, the price could rise steadily towards the $0.50 level.

More Pain?

If cardano’s price fails to recover above the $0.3880 and $0.400 resistance levels, it could continue to move down. An immediate support on the downside is near the $0.360 level.

The main support is near the $0.350 level. A downside break below the $0.350 level could open the doors for a fresh decline towards $0.320. The next major support is near the $0.300 level.

Technical Indicators

4-hours MACD – The MACD for ADA/USD is slowly losing momentum in the bullish zone.

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

Major Support Levels – $0.360, $0.350 and $0.300.

Major Resistance Levels – $0.3700, $0.388 and $0.408.

Tags: ADAadausdadausdcADAUSDTCardano
Tweet123Share196ShareSend
Aayush Jindal

Aayush Jindal

Aayush is a Senior Forex, Cryptocurrencies, and Financial Market Strategist. He specializes in market strategies and technical analysis and has spent over 15 years as a financial markets contributor and observer. He also founded an IT company and works rigorously in providing high-quality software services. Aayush possesses strong technical analytical skills and is well known for his entertaining and informative analysis of the currency, commodities, Bitcoin, and Ethereum markets. Follow him on Twitter @AayushJs.

Related Posts

Cardano

Cardano $0.24 Support Test: Can ADA Price Reverse Its Downward Trend?

6 hours ago
ADA price bull

Cardano: Factors That Could Drive ADA Price As High As $12

18 hours ago
Cardano ADA

Analysts Are Bullish On ADA But Price Keeps Tanking, What’s Going On?

2 weeks ago
ADA

Analyst Calls ADA Amazon Of The Crypto World, Forecasts Bright Future Ahead

3 weeks ago
Cardano (ADA)

ADA Price Dips Worth Buying? What Key Market Indicators Suggest

1 month ago
Cardano (ADA) Price Analysi

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

1 month ago

Premium Partners

Play Finance

Top Casinos

BitStarz

BitStarz

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Trust Dice

Trust Dice

Review · Visit
mBit

mBit

Review · Visit

Press Releases

  • Solana Remains Stable, Bitcoin Cash, and Borroe.Finance...

    3 hours ago
  • Best Trading Sessions in Nigeria Time According to Analysts

    6 hours ago
  • Cosmos and Axie Infinity Holders Accumulating Kangamoon...

    7 hours ago
  • Eureka Partners Fortifies Its Stance in Blockchain and...

    8 hours ago
  • Imagine Buying Bitcoin at 20 cents! Gold Coin on the rise

    8 hours ago

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

Company

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

© 2023 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
    • Gambling
      • Crypto Casinos
      • Real Money Casinos
    • Casinos not on Gamstop
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play Games
  • Win 8.88 BTC
  • Play Casino Games
  • Play Finance

© 2023 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.