Cardano (ADA) Struggles to Hold Ground: Another Drop Incoming? - ADVFN

Gold vs US Dollar

Register for real-time alerts, custom portfolio, and market movers

Get Started

Name	Symbol	Market	Market Cap ($)	Algorithm
Cardano	ADAUSD	Crypto	31,636,039,096	Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	-0.0024	-0.27%	0.8853	0.8856	0.8857

High Price	Low Price	Open Price	Prev. Close	52 Week Range
0.8878	0.8831	0.8866	0.8877	0.275966 - 1.33

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	00:26:40	50.39	0.8856	USD

Price x Volume	Volume	Base Symbol	Related Pairs
237,657.05	268,387.23	ADA	ADAEUR	ADAGBP	ADABTC

Cardano (ADA) Struggles to Hold Ground: Another Drop Incoming?

26/12/2024 5:08am

NEWSBTC

Cardano price started a downside correction below the $1.00 zone. ADA is consolidating and facing hurdles near the $0.920 and $0.950 levels. ADA price started a downward move below the $1.00 support zone. The price is trading below $0.950 and the 100-hourly simple moving average. There is a connecting bearish trend line forming with resistance at $0.92 on the hourly chart of the ADA/USD pair (data source from Kraken). The pair could start another increase if it clears the $0.950 resistance zone. Cardano Price Starts Fresh Decline After struggling to clear the $1.00 resistance zone, Cardano started a fresh decline, like Bitcoin and Ethereum. ADA declined below the $0.9650 and $0.950 support levels. The recent high was formed at $0.9495 before the price dipped. There was a move below the $0.920 support level. The price declined below the 50% Fib retracement level of the upward move from the $0.8628 swing low to the $0.9495 high. Cardano price is now trading below $0.925 and the 100-hourly simple moving average. On the upside, the price might face resistance near the $0.920 zone. There is also a connecting bearish trend line forming with resistance at $0.92 on the hourly chart of the ADA/USD pair. The first resistance is near $0.9350. The next key resistance might be $0.950. If there is a close above the $0.950 resistance, the price could start a strong rally. In the stated case, the price could rise toward the $1.00 region. Any more gains might call for a move toward $1.050 in the near term. More Losses in ADA? If Cardano’s price fails to climb above the $0.920 resistance level, it could start another decline. Immediate support on the downside is near the $0.8950 level or the 61.8% Fib retracement level of the upward move from the $0.8628 swing low to the $0.9495 high. The next major support is near the $0.865 level. A downside break below the $0.8650 level could open the doors for a test of $0.820. The next major support is near the $0.8050 level where the bulls might emerge. Technical Indicators Hourly MACD – The MACD for ADA/USD is gaining momentum in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for ADA/USD is now below the 50 level. Major Support Levels – $0.8950 and $0.8650. Major Resistance Levels – $0.920 and $0.950.

1 Year Cardano Chart

1 Year Cardano Chart

1 Month Cardano Chart

1 Month Cardano Chart

Vontobel Financial Produ...

Vontobel Financial Produ...

Leonteq Securities

Vontobel Financial Produ...

Vontobel Financial Produ...

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