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Cardano price started a fresh decline below the $0.3550 zone. ADA is consolidating above $0.3400 and might attempt a recovery wave.<\/em><\/p>\n

\n
ADA price started a downward move below the $0.3500 support level.<\/li>\n
The price is trading below $0.3550 and the 100-hourly simple moving average.<\/li>\n
There was a break below a key bullish trend line with support at $0.3600 on the hourly chart of the ADA\/USD pair (data source from Kraken).<\/li>\n
The pair could attempt a recovery wave if it clears the $0.3585 resistance zone.<\/li>\n<\/ul>\n
Cardano Price Consolidates Losses<\/h2>\n
After testing the $0.3685 resistance, Cardano struggled to continue higher. ADA formed a short-term top and started a fresh decline, like Bitcoin<\/a> and Ethereum<\/a>. There was a move below the $0.3550 and $0.3500 support levels.<\/p>\n
There was a break below a key bullish trend line with support at $0.3600 on the hourly chart of the ADA\/USD pair. The price even declined below $0.3440 before the bulls appeared. A low was formed at $0.3420 and the price is now correcting losses. There was a minor move above the $0.3480 level.<\/p>\n
The price cleared the 23.6% Fib retracement level of the downward move from the $0.3685 swing high to the $0.3420 low. Cardano price is now trading below $0.3550 and the 100-hourly simple moving average.<\/p>\n
On the upside, the price might face resistance near the $0.3550 zone or the 50% Fib retracement level of the downward move from the $0.3685 swing high to the $0.3420 low. The first resistance is near $0.3585. The next key resistance might be $0.3685.<\/p>\n
$\"Cardano$ <\/a>
Source: ADAUSD on TradingView.com<\/a><\/figcaption><\/figure>\n
If there is a close above the $0.3685 resistance, the price could start a strong rally. In the stated case, the price could rise toward the $0.3780 region. Any more gains might call for a move toward $0.3950.<\/p>\n
Another Decline in ADA?<\/h2>\n
If Cardano\u2019s price fails to climb above the $0.3550 resistance level, it could start another decline. Immediate support on the downside is near the $0.3480 level.<\/p>\n
The next major support is near the $0.3420 level. A downside break below the $0.3420 level could open the doors for a test of $0.3250. The next major support is near the $0.3120 level where the bulls might emerge.<\/p>\n
Technical Indicators<\/p>\n
Hourly MACD \u2013 The MACD for ADA\/USD is losing momentum in the bearish zone.<\/p>\n
Hourly RSI (Relative Strength Index) \u2013 The RSI for ADA\/USD is now below the 50 level.<\/p>\n
Major Support Levels \u2013 $0.3450 and $0.3420.<\/p>\n
Major Resistance Levels \u2013 $0.3550 and $0.3685.<\/p>\n","protected":false},"excerpt":{"rendered":"
Cardano price started a fresh decline below the $0.3550 zone. ADA is consolidating above $0.3400 and might attempt a recovery wave. ADA price started a downward move below the $0.3500 support level. The price is trading below $0.3550 and the 100-hourly simple moving average. There was a break below a key bullish trend line with support at $0.3600 on the hourly chart of the ADA\/USD pair (data source from Kraken). The pair could attempt a recovery wave if it clears the $0.3585 resistance zone. Cardano Price Consolidates Losses After testing the $0.3685 resistance, Cardano struggled to continue higher. ADA formed a short-term top and started a fresh decline, like Bitcoin and Ethereum. There was a move below the $0.3550 and $0.3500 support levels. There was a break below a key bullish trend line with support at $0.3600 on the hourly chart of the ADA\/USD pair. The price even declined below $0.3440 before the bulls appeared. A low was formed at $0.3420 and the price is now correcting losses. There was a minor move above the $0.3480 level. The price cleared the 23.6% Fib retracement level of the downward move from the $0.3685 swing high to the $0.3420 low. Cardano price is now trading below $0.3550 and the 100-hourly simple moving average. On the upside, the price might face resistance near the $0.3550 zone or the 50% Fib retracement level of the downward move from the $0.3685 swing high to the $0.3420 low. The first resistance is near $0.3585. The next key resistance might be $0.3685. If there is a close above the $0.3685 resistance, the price could start a strong rally. In the stated case, the price could rise toward the $0.3780 region. Any more gains might call for a move toward $0.3950. Another Decline in ADA? If Cardano\u2019s price fails to climb above the $0.3550 resistance level, it could start another decline. Immediate support on the downside is near the $0.3480 level. The next major support is near the $0.3420 level. A downside break below the $0.3420 level could open the doors for a test of $0.3250. The next major support is near the $0.3120 level where the bulls might emerge. Technical Indicators Hourly MACD \u2013 The MACD for ADA\/USD is losing momentum in the bearish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for ADA\/USD is now below the 50 level. Major Support Levels \u2013 $0.3450 and $0.3420. Major Resistance Levels \u2013 $0.3550 and $0.3685.<\/p>\n","protected":false},"author":67,"featured_media":513176,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[83371],"tags":[79516,14643,79508,12332],"class_list":["post-649588","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ada","tag-adabtc","tag-adausd","tag-adausdt","tag-cardano"],"acf":[],"yoast_head":"\nCardano (ADA) Struggles to Build Bullish Momentum: Will It Turn Around?<\/title>\n<meta name=\"description\" content=\"Cardano price started a fresh decline below the $0.3550 zone. 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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. 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