Cardano (ADA) Under Pressure: Struggles to Reclaim Lost Ground

Name	Symbol	Market	Market Cap ($)	Algorithm
Bitcoin	BTCUSD	Crypto	1,923,110,719,456	SHA-256d

Name

Symbol

Market

Market Cap ($)

Algorithm

Bitcoin

BTCUSD

Crypto

1,923,110,719,456

SHA-256d

	Price Change	Price Change %	Current Price	Bid Price	Offer
	762.57	0.79%	97,266.51	97,266.51	97,266.52

Price Change

Price Change %

Current Price

Bid Price

Offer

762.57

0.79%

97,266.51

97,266.52

High Price	Low Price	Open Price	Prev. Close	52 Week Range
97,519.28	96,464.37	96,494.18	96,503.94	38,501.00 - 108,388.88

High Price

Low Price

Open Price

Prev. Close

52 Week Range

97,519.28

96,464.37

96,494.18

96,503.94

38,501.00 - 108,388.88

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	02:04:51	0.000020	97,263.41	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

02:04:51

0.000020

97,263.41

USD

Price x Volume	Volume	Base Symbol	Related Pairs
84,011,088.94	865.43	BTC	BTCEUR	BTCGBP	ETHBTC

Price x Volume

Volume

Base Symbol

Related Pairs

84,011,088.94

865.43

Cardano (ADA) Under Pressure: Struggles to Reclaim Lost Ground

14/01/2025 5:08am

NEWSBTC

Cardano price started a fresh decline below the $0.9550 zone. ADA is consolidating and might struggle to start a fresh increase above the $1.00 level. ADA price started a fresh decline from the $1.0350 zone. The price is trading near $0.950 and the 100-hourly simple moving average. There was a break above a short-term bearish trend line with resistance at $0.9560 on the hourly chart of the ADA/USD pair (data source from Kraken). The pair could start another increase if it clears the $1.00 resistance zone. Cardano Price Attempts Recovery Wave After struggling to stay above the $1.00 level, Cardano started a fresh decline like Bitcoin and Ethereum. ADA declined below the $0.9550 and $0.9500 support levels. It even spiked below $0.900. A low was formed at $0.8769 and the price is now attempting to recover. There was a move above the $0.9150 level. The price cleared the 23.6% Fib retracement level of the downward move from the $1.0354 swing high to the $0.8769 low. There was a break above a short-term bearish trend line with resistance at $0.9560 on the hourly chart of the ADA/USD pair. Cardano price is now trading below $0.9650 and the 100-hourly simple moving average. On the upside, the price might face resistance near the $0.9550 zone. It is near the 50% Fib retracement level of the downward move from the $1.0354 swing high to the $0.8769 low. The first resistance is near $0.9750. The next key resistance might be $1.00. If there is a close above the $1.00 resistance, the price could start a strong rally. In the stated case, the price could rise toward the $1.050 region. Any more gains might call for a move toward $1.120 in the near term. Another Decline in ADA? If Cardano’s price fails to climb above the $0.9550 resistance level, it could start another decline. Immediate support on the downside is near the $0.9320 level. The next major support is near the $0.9150 level. A downside break below the $0.9150 level could open the doors for a test of $0.900. 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 gaining momentum in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for ADA/USD is now above the 50 level. Major Support Levels – $0.9150 and $0.9000. Major Resistance Levels – $0.9750 and $1.0000.

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