{"id":554325,"date":"2023-10-06T07:28:17","date_gmt":"2023-10-06T07:28:17","guid":{"rendered":"https:\/\/www.ktsl888.com\/?p=554325"},"modified":"2023-10-06T07:30:30","modified_gmt":"2023-10-06T07:30:30","slug":"cardano-will-support-levels-halt-the-decline","status":"publish","type":"post","link":"https:\/\/www.ktsl888.com\/news\/cardano-will-support-levels-halt-the-decline\/","title":{"rendered":"Assessing Cardano’s Struggles: Will Key Support Levels Halt The Decline Above $0.27?"},"content":{"rendered":"

Cardano (ADA) has been on a rollercoaster ride in the cryptocurrency market, with its recent price recovery rally encountering some significant challenges.\u00a0<\/span><\/p>\n

As of the latest data from <\/span>CoinGecko<\/span><\/a>, ADA is trading at $0.261, showing a modest 1.7% gain in the past 24 hours, but boasting a seven-day rally of 4.9%. However, beneath the surface, there are signs of growing overhead pressure that could limit ADA’s upward momentum.<\/span><\/p>\n

ADA’s journey to reclaim its previous highs faces its first major hurdle at the $0.26 mark. But this is just the beginning, as multiple layers of resistance lie above it, signifying significant supplier congestion levels. The price recovery may be stalling due to these formidable barriers.<\/span><\/p>\n

Related Reading: Solana Price On Fire: October Red-Hot Prediction \u2013 $30 Within Reach?<\/a><\/div>\n

Cardano: Key Insights<\/strong><\/h2>\n

To gain a deeper understanding of ADA’s current price dynamics, we turn to a new <\/span>price analysis<\/span>. Data reveals a crucial level of buying interest at $0.25. In fact, over 600,000 ADA buy limit orders are placed at this level.\u00a0<\/span><\/p>\n

This suggests that if ADA can breach the range-high and the 50-day Exponential Moving Average (EMA), it might find support around the mid-range of $0.25.<\/span><\/p>\n

On the sell side, key sell limit orders start to emerge between $0.265 and $0.270, indicating that there is substantial selling pressure just above the current price levels.<\/span><\/p>\n

<\/p>\n

ADA market cap currently at $9.1 billion. Chart: TradingView.com<\/a><\/pre>\n
The fate of ADA’s price also hinges on Bitcoin’s performance. Should Bitcoin post losses and dip below $27,500, ADA could follow suit, potentially finding support at the mid-range of $0.25. Conversely, a bullish rally in Bitcoin could set the stage for ADA to re-target its next hurdle at $0.28.<\/span><\/p>\n
Related Reading: XRP Battle With Resistance: Could A Crucial Update Propel The Altcoin Forward?<\/a><\/div>\n
Technical Indicators Signal Caution<\/strong><\/h2>\n
Technical indicators are also raising caution flags for ADA investors. The Relative Strength Index (RSI) is currently below the 50 level and trending downward, indicating fading momentum. Furthermore, the Awesome Oscillator (AO) remains in negative territory, signaling a lack of bullish sentiment.<\/span><\/p>\n
\"\"<\/p>\n
ADA \u00a0Global In\/Out of the Money (GIOM) metric. Source: IntoTheBlock\/FXStreet<\/pre>\n
Descent To Range Low Likely<\/strong><\/h3>\n
Considering the current market conditions and technical indicators, <\/span>analysts are leaning towards a bearish outlook<\/span><\/a> for Cardano’s price. There is a possibility that ADA could descend to test the support floor at $0.2415. In a worst-case scenario, the price could plummet further, potentially reaching the range low of $0.2200, marking a substantial 15% drop from its current levels.<\/span><\/p>\n
While Cardano has shown resilience with its recent gains, the road ahead is riddled with resistance levels, and Bitcoin’s influence remains a significant factor. Investors should closely monitor the developments in ADA’s price, as it navigates through these challenging market conditions. The cryptocurrency landscape is as unpredictable as ever, and ADA’s journey is far from certain.<\/span><\/p>\n
(This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk).<\/em><\/p>\n
Featured image from<\/span><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"
Cardano (ADA) has been on a rollercoaster ride in the cryptocurrency market, with its recent price recovery rally encountering some significant challenges.\u00a0 As of the latest data from CoinGecko, ADA is trading at $0.261, showing a modest 1.7% gain in the past 24 hours, but boasting a seven-day rally of 4.9%. However, beneath the surface, there are signs of growing overhead pressure that could limit ADA’s upward momentum. ADA’s journey to reclaim its previous highs faces its first major hurdle at the $0.26 mark. But this is just the beginning, as multiple layers of resistance lie above it, signifying significant supplier congestion levels. The price recovery may be stalling due to these formidable barriers. Related Reading: Solana Price On Fire: October Red-Hot Prediction \u2013 $30 Within Reach? Cardano: Key Insights To gain a deeper understanding of ADA’s current price dynamics, we turn to a new price analysis. Data reveals a crucial level of buying interest at $0.25. In fact, over 600,000 ADA buy limit orders are placed at this level.\u00a0 This suggests that if ADA can breach the range-high and the 50-day Exponential Moving Average (EMA), it might find support around the mid-range of $0.25. On the sell side, key sell limit orders start to emerge between $0.265 and $0.270, indicating that there is substantial selling pressure just above the current price levels. ADA market cap currently at $9.1 billion. Chart: TradingView.com The fate of ADA’s price also hinges on Bitcoin’s performance. Should Bitcoin post losses and dip below $27,500, ADA could follow suit, potentially finding support at the mid-range of $0.25. Conversely, a bullish rally in Bitcoin could set the stage for ADA to re-target its next hurdle at $0.28. Related Reading: XRP Battle With Resistance: Could A Crucial Update Propel The Altcoin Forward? Technical Indicators Signal Caution Technical indicators are also raising caution flags for ADA investors. The Relative Strength Index (RSI) is currently below the 50 level and trending downward, indicating fading momentum. Furthermore, the Awesome Oscillator (AO) remains in negative territory, signaling a lack of bullish sentiment. ADA \u00a0Global In\/Out of the Money (GIOM) metric. Source: IntoTheBlock\/FXStreet Descent To Range Low Likely Considering the current market conditions and technical indicators, analysts are leaning towards a bearish outlook for Cardano’s price. There is a possibility that ADA could descend to test the support floor at $0.2415. In a worst-case scenario, the price could plummet further, potentially reaching the range low of $0.2200, marking a substantial 15% drop from its current levels. While Cardano has shown resilience with its recent gains, the road ahead is riddled with resistance levels, and Bitcoin’s influence remains a significant factor. Investors should closely monitor the developments in ADA’s price, as it navigates through these challenging market conditions. The cryptocurrency landscape is as unpredictable as ever, and ADA’s journey is far from certain. (This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk). Featured image from<\/p>\n","protected":false},"author":557,"featured_media":554339,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[84005,142,1144,12332,8686,4735],"class_list":["post-554325","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-ada-price","tag-altcoins","tag-btcusd","tag-cardano","tag-ethusd","tag-price-action"],"acf":[],"yoast_head":"\nCardano Struggles: Will Support Levels Halt Decline Above $0.27?<\/title>\n<meta name=\"description\" content=\"Cardano (ADA) has been on a rollercoaster ride in the cryptocurrency market, with its recent price recovery rally encountering some significant\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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Encila","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.ktsl888.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/42cdb81dcbfceaa5f2e5c359239db36f?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/42cdb81dcbfceaa5f2e5c359239db36f?s=96&d=mm&r=g","caption":"Christian Encila"},"description":"They say journalists never truly clock out. But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn. Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats \u2013 a testament to his dedication to his furry companions (more on that later). Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin\u2019 helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. So, the next time you tread into the world of cryptocurrency, remember the man behind the words \u2013 the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.","sameAs":["jomarjet01"],"url":"https:\/\/www.ktsl888.com\/author\/jomarjet01\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Assessing Cardano’s Struggles: Will Key Support Levels Halt The Decline Above $0.27?","url":"http:\/\/www.ktsl888.com\/news\/cardano-will-support-levels-halt-the-decline\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/www.ktsl888.com\/news\/cardano-will-support-levels-halt-the-decline\/"},"thumbnailUrl":"https:\/\/www.ktsl888.com\/wp-content\/uploads\/2023\/10\/a-24.png?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/www.ktsl888.com\/wp-content\/uploads\/2023\/10\/a-24.png?fit=1108%2C729"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Christian Encila"}],"creator":["Christian Encila"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/www.ktsl888.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["ada price","altcoins","btcusd","cardano","ethusd","price action"],"dateCreated":"2023-10-06T07:28:17Z","datePublished":"2023-10-06T07:28:17Z","dateModified":"2023-10-06T07:30:30Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Assessing Cardano’s Struggles: Will Key Support Levels Halt The Decline Above $0.27?\",\"url\":\"http:\\\/\\\/www.ktsl888.com\\\/news\\\/cardano-will-support-levels-halt-the-decline\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/www.ktsl888.com\\\/news\\\/cardano-will-support-levels-halt-the-decline\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/www.ktsl888.com\\\/wp-content\\\/uploads\\\/2023\\\/10\\\/a-24.png?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/www.ktsl888.com\\\/wp-content\\\/uploads\\\/2023\\\/10\\\/a-24.png?fit=1108%2C729\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Christian Encila\"}],\"creator\":[\"Christian Encila\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/www.ktsl888.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"ada price\",\"altcoins\",\"btcusd\",\"cardano\",\"ethusd\",\"price action\"],\"dateCreated\":\"2023-10-06T07:28:17Z\",\"datePublished\":\"2023-10-06T07:28:17Z\",\"dateModified\":\"2023-10-06T07:30:30Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/ktsl888.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/www.ktsl888.com\/wp-content\/uploads\/2023\/10\/a-24.png?fit=1108%2C729","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.ktsl888.com\/wp-json\/wp\/v2\/posts\/554325"}],"collection":[{"href":"https:\/\/www.ktsl888.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ktsl888.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ktsl888.com\/wp-json\/wp\/v2\/users\/557"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ktsl888.com\/wp-json\/wp\/v2\/comments?post=554325"}],"version-history":[{"count":0,"href":"https:\/\/www.ktsl888.com\/wp-json\/wp\/v2\/posts\/554325\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.ktsl888.com\/wp-json\/wp\/v2\/media\/554339"}],"wp:attachment":[{"href":"https:\/\/www.ktsl888.com\/wp-json\/wp\/v2\/media?parent=554325"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ktsl888.com\/wp-json\/wp\/v2\/categories?post=554325"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ktsl888.com\/wp-json\/wp\/v2\/tags?post=554325"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}