NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Bitcoin Price Tumbles Toward $98,000: What’s Driving The Drop And What Lies Ahead
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Bitcoin Price Tumbles Toward $98,000: What’s Driving The Drop And What Lies Ahead

Cardano Price Analysis: ADA/USD Could Drop Towards $0.070

Aayush Jindal
Aayush Jindal
Last Updated: June 11, 2024 1:32 pm
2 mins read
technical analysis cardano

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Key Highlights

  • ADA price failed to move above the $0.0770 and $0.0800 resistance levels against the US Dollar (tethered).
  • There is a crucial bearish trend line in place with resistance at $0.0755 on the hourly chart of the ADA/USD pair (data feed via Bittrex).
  • The pair is currently at a risk of a downside break below the $0.0740 support in the near term.

Cardano price is under pressure against the US Dollar and Bitcoin. ADA/USD is likely to slide further towards the $0.0720 and $0.0700 support levels.

Cardano Price Analysis

During the past few days, cardano price made many attempts to rally above the $0.0800 resistance against the US Dollar. The ADA/USD pair struggled to clear $0.0800 and it recently declined. The price formed a decent support near the $0.0740 level and later recovered. However, the $0.0770 level acted as a strong resistance and pushed the price down again.

At the moment, the price is trading near the $0.0740 support with a bearish angle. An initial resistance is the 23.6% Fibonacci retracement level of the recent decline from the $0.0770 high to $0.0742 low. More importantly, there is a crucial bearish trend line in place with resistance at $0.0755 on the hourly chart of the ADA/USD pair. The same trend line is near the 50% Fibonacci retracement level of the recent decline from the $0.0770 high to $0.0742 low. Above the trend line, the 100 hourly simple moving average is positioned at $0.0760. Therefore, a proper break above the $0.0755 and $0.0760 resistance levels is needed for an upward move.

Cardano Price Analysis ADA Chart

The chart indicates that ADA price is currently at a risk of a downside break below the $0.0740 support. If sellers succeed, the price may perhaps slide towards the $0.0720 or $0.0700 support in the near term.

Hourly MACD – The MACD for ADA/USD is placed heavily in the bearish zone.

Hourly RSI – The RSI for ADA/USD is currently well below the 50 level.

Major Support Level – $0.0740

Major Resistance Level – $0.0760

Tweet123Share196ShareSend
Aayush Jindal
Aayush Jindal

Aayush Jindal

Aayush Jindal, a luminary in the world of financial markets, whose expertise spans over 15 illustrious years in the realms of Forex and cryptocurrency trading. Renowned for his unparalleled proficiency in providing technical analysis, Aayush is a trusted advisor and senior market expert to investors worldwide, guiding them through the intricate landscapes of modern finance with his keen insights and astute chart analysis.

Read more

From a young age, Aayush exhibited a natural aptitude for deciphering complex systems and unraveling patterns. Fueled by an insatiable curiosity for understanding market dynamics, he embarked on a journey that would lead him to become one of the foremost authorities in the fields of Forex and crypto trading. With a meticulous eye for detail and an unwavering commitment to excellence, Aayush honed his craft over the years, mastering the art of technical analysis and chart interpretation.
As a software engineer, Aayush harnesses the power of technology to optimize trading strategies and develop innovative solutions for navigating the volatile waters of financial markets. His background in software engineering has equipped him with a unique skill set, enabling him to leverage cutting-edge tools and algorithms to gain a competitive edge in an ever-evolving landscape.

In addition to his roles in finance and technology, Aayush serves as the director of a prestigious IT company, where he spearheads initiatives aimed at driving digital innovation and transformation. Under his visionary leadership, the company has flourished, cementing its position as a leader in the tech industry and paving the way for groundbreaking advancements in software development and IT solutions.

Despite his demanding professional commitments, Aayush is a firm believer in the importance of work-life balance. An avid traveler and adventurer, he finds solace in exploring new destinations, immersing himself in different cultures, and forging lasting memories along the way. Whether he's trekking through the Himalayas, diving in the azure waters of the Maldives, or experiencing the vibrant energy of bustling metropolises, Aayush embraces every opportunity to broaden his horizons and create unforgettable experiences.

Aayush's journey to success is marked by a relentless pursuit of excellence and a steadfast commitment to continuous learning and growth. His academic achievements are a testament to his dedication and passion for excellence, having completed his software engineering with honors and excelling in every department.

At his core, Aayush is driven by a profound passion for analyzing markets and uncovering profitable opportunities amidst volatility. Whether he's poring over price charts, identifying key support and resistance levels, or providing insightful analysis to his clients and followers, Aayush's unwavering dedication to his craft sets him apart as a true industry leader and a beacon of inspiration to aspiring traders around the globe.

In a world where uncertainty reigns supreme, Aayush Jindal stands as a guiding light, illuminating the path to financial success with his unparalleled expertise, unwavering integrity, and boundless enthusiasm for the markets.

Close

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Najboljša kripto predprodaja

Najboljša kripto predprodaja v času padca

Najboljša kripto predprodaja znova prihaja v ospredje prav v trenutku, ko je globalna tržna kapitalizacija kripta padla nazaj proti približno...

tanjapotocnik 2 hours ago

Top Analyst Sounds Alarm: Bitcoin Is Highly Unlikely To Spring Back Anytime Soon

Bitcoin is trading in a fragile state after slipping below $90,000 and now in the mid-$80,000s. This price action has...

Scott Matherson 4 hours ago

Dogecoin Goes Wall Street: Grayscale Confirms Nov. 24 ETF Launch

Grayscale Investments will list spot ETFs for Dogecoin and XRP on the NYSE Arca on November 24, 2025, offering a...

Christian Encila 13 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Epstein, MIT, Bitcoin : 7,5 M$ de fonds douteux au cœur d’une controverse.

Epstein, MIT, Bitcoin : 7,5 M$ de fonds douteux

guillaumev 12 minutes ago
Deblock : 30 M€ levés pour relier finance traditionnelle et DeFi.

Deblock : 30 M€ pour relier finance tradi et DeFi

guillaumev 59 minutes ago
Ethereum

On-Chain Metric Tips Ethereum To Form Price Bottom Below $2,000 – Here’s Why

Semilore Faleti 1 hour ago

Premium Sponsors

Press Releases

  • 仮想通貨投資の注目候補:2025年に台頭するビットコイン系レイヤー2は次の主役となるか

    ...

    46 minutes ago
  • 仮想通貨 プレセールの有望銘柄:市場クラッシュ時に資産を守る新興マイニング系プロジェクトとは

    仮想通貨...

    1 hour ago
  • 新しい仮想通貨が2025年に再び盛り上がり:次世代型トークン群が市場の流れを変える

    ...

    1 hour ago
  • 仮想通貨 1000倍 を狙う注目銘柄:存在感を増す“新興プロジェクト群”

    仮想通貨 1000倍...

    2 hours ago
  • ico 仮想通貨ガイド:犬系ミームトークンが2025年プレセールの有力候補に浮上

    ico...

    2 hours ago

Newsletter

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.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 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.