Cardano (ADA) Price Revisits Key Support, Can Bulls Save The Day? - ADVFN

Gold vs US Dollar

Register for Free to get streaming real-time quotes, interactive charts, live options flow, and more.

Get Started

Name	Symbol	Market	Market Cap ($)	Algorithm
Cardano	ADAUSD	Crypto	16,265,230,854	Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	-0.0005	-0.11%	0.4626	0.4626	0.4627

High Price	Low Price	Open Price	Prev. Close	52 Week Range
0.4641	0.4522	0.4627	0.4631	0.216009 - 0.810200

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	16:46:20	21.48	0.4626	USD

Price x Volume	Volume	Base Symbol	Related Pairs
3,642,365.79	7,962,547.34	ADA	ADAEUR	ADAGBP	ADABTC

Cardano (ADA) Price Revisits Key Support, Can Bulls Save The Day?

02/03/2023 6:28am

NEWSBTC

Cardano’s price started a fresh decline from the $0.42 resistance. ADA could decline further if it fails to stay above the $0.348 support zone. ADA price is struggling and trading near the $0.35 support zone against the US dollar. The price is trading below $0.370 and the 100 simple moving average (4-hours). There is a major bearish trend line forming with resistance near $0.370 on the 4-hours chart of the ADA/USD pair (data source from Kraken). The pair could continue to decline if there is a downside break below the $0.348 support. Cardano’s ADA Price Climbs Above Hurdle After struggling to gain pace above the $0.42 resistance, cardano’s price started a fresh decline. The price declined below the $0.40 and $0.38 support levels to move into a bearish zone, unlike bitcoin and ethereum. The decline gained pace below the $0.35 level and the 100 simple moving average (4-hours). Finally, the bulls took a stand near the key $0.35 support zone. A low is formed near $0.3489 and the price is now consolidating losses. ADA price is trading below $0.370 and the 100 simple moving average (4-hours). On the upside, an immediate resistance is near the $0.3660 zone. It is near the 23.6% Fib retracement level of the main decline from the $0.4213 swing high to $0.3489 low. The next major resistance is forming near the $0.370 zone. There is also a major bearish trend line forming with resistance near $0.370 on the 4-hours chart of the ADA/USD pair. If there is an upside break above the $0.370 and $0.372 resistance levels, the price could start a fresh increase. Source: ADAUSD on TradingView.com In the stated case, the price could rise steadily towards the $0.385 level or the 50% Fib retracement level of the main decline from the $0.4213 swing high to $0.3489 low. The next major hurdle is near the $0.40 zone. Downside Break? If cardano’s price fails to climb above the $0.366 and $0.370 resistance levels, it could start a fresh decline. An immediate support on the downside is near the $0.350 level. The next major support is near the $0.348 level. A downside break below the $0.348 level could open the doors for a fresh decline towards $0.32. The next major support is near the $0.30 level. Technical Indicators 4-hours MACD – The MACD for ADA/USD is losing momentum in the bearish zone. 4-hours RSI (Relative Strength Index) – The RSI for ADA/USD is now below the 50 level. Major Support Levels – $0.350, $0.348 and $0.32. Major Resistance Levels – $0.366, $0.37 and $0.385.

1 Year Cardano Chart

1 Year Cardano Chart

1 Month Cardano Chart

1 Month Cardano Chart

Delayed Upgrade Clock

Support: +44 (0) 203 8794 460 | support@advfn.com

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions