Cardano (ADA) Slips: A Healthy Correction or Bulls Losing Grip? - ADVFN

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Name	Symbol	Market	Market Cap ($)	Algorithm
Cardano	ADAUSD	Crypto	35,423,653,345	Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	-0.0215	-2.13%	0.9885	0.9885	0.9886

High Price	Low Price	Open Price	Prev. Close	52 Week Range
1.01	0.979	1.00	1.01	0.275966 - 1.33

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	04:05:06	1.60	0.9885	USD

Price x Volume	Volume	Base Symbol	Related Pairs
13,695,439.71	13,763,388.55	ADA	ADAEUR	ADAGBP	ADABTC

Cardano (ADA) Slips: A Healthy Correction or Bulls Losing Grip?

20/01/2025 5:18am

NEWSBTC

Cardano price started a fresh decline below the $1.050 zone. ADA is consolidating and might struggle to start a fresh increase above the $1.0250 level. ADA price started a fresh decline from the $1.150 zone. The price is trading below $1.0550 and the 100-hourly simple moving average. There is a connecting bearish trend line forming with resistance at $1.040 on the hourly chart of the ADA/USD pair (data source from Kraken). The pair could start another increase if it clears the $1.050 resistance zone. Cardano Price Faces Hurdles After struggling to stay above the $1.150 level, Cardano started a fresh decline unlike Bitcoin and Ethereum. ADA declined below the $1.050 and $1.0350 support levels. It even spiked below $1.00. A low was formed at $0.9615 and the price is now attempting to recover. There was a move above the $0.990 level. The price cleared the 23.6% Fib retracement level of the downward move from the $1.088 swing high to the $0.9615 low. Cardano price is now trading below $1.050 and the 100-hourly simple moving average. On the upside, the price might face resistance near the $1.0250 zone. It is near the 50% Fib retracement level of the downward move from the $1.088 swing high to the $0.9615 low. The first resistance is near $1.050. There is also a connecting bearish trend line forming with resistance at $1.040 on the hourly chart of the ADA/USD pair. The next key resistance might be $1.0880. If there is a close above the $1.0880 resistance, the price could start a strong rally. In the stated case, the price could rise toward the $1.120 region. Any more gains might call for a move toward $1.1520 in the near term. Another Decline in ADA? If Cardano’s price fails to climb above the $1.050 resistance level, it could start another decline. Immediate support on the downside is near the $0.980 level. The next major support is near the $0.9650 level. A downside break below the $0.9650 level could open the doors for a test of $0.9200. The next major support is near the $0.880 level where the bulls might emerge. Technical Indicators Hourly MACD – The MACD for ADA/USD is losing momentum in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for ADA/USD is now below the 50 level. Major Support Levels – $0.980 and $0.9650. Major Resistance Levels – $1.0250 and $1.0500.

1 Year Cardano Chart

1 Year Cardano Chart

1 Month Cardano Chart

1 Month Cardano Chart

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