Cardano (ADA) Could Recover Strongly If It Smashes This Barrier

Name	Symbol	Market	Market Cap ($)	Algorithm
Ethereum	ETHUSD	Crypto	402,803,928,852	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

Ethereum

ETHUSD

Crypto

402,803,928,852

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	27.89	0.83%	3,377.41	3,377.40	3,377.41

Price Change

Price Change %

Current Price

Bid Price

Offer

27.89

0.83%

3,377.41

3,377.40

3,377.41

High Price	Low Price	Open Price	Prev. Close	52 Week Range
3,430.00	3,293.10	3,349.40	3,349.52	2,080.02 - 4,109.67

High Price

Low Price

Open Price

Prev. Close

52 Week Range

3,430.00

3,293.10

3,349.40

3,349.52

2,080.02 - 4,109.67

Exchange	Last Trade	Size	Trade Price	Currency
BSTP	17:39:31	0.037884	3,378.50	USD

Exchange

Last Trade

Size

Trade Price

Currency

BSTP

17:39:31

0.037884

3,378.50

USD

Price x Volume	Volume	Base Symbol	Related Pairs
777,186,212.04	230,769.70	ETH	ETHEUR	ETHGBP	ETHBTC

Price x Volume

Volume

Base Symbol

Related Pairs

777,186,212.04

230,769.70

Cardano (ADA) Could Recover Strongly If It Smashes This Barrier

09/10/2024 6:08am

NEWSBTC

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 $0.3520 and the 100-hourly simple moving average. There is a key bearish trend line forming with resistance at $0.3460 on the hourly chart of the ADA/USD pair (data source from Kraken). The pair could continue to move down if it stays below the $0.3520 resistance zone. Cardano Price Consolidates Losses After testing the $0.3680 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. The price even declined below $0.3450 before the bulls appeared. A low was formed at $0.3409 and the price is now consolidating losses. There was a minor move above the $0.3450 level. The price tested the 23.6% Fib retracement level of the downward move from the $0.3681 swing high to the $0.3409 low. Cardano price is now trading below $0.3520 and the 100-hourly simple moving average. On the upside, the price might face resistance near the $0.3460 zone. There is also a key bearish trend line forming with resistance at $0.3460 on the hourly chart of the ADA/USD pair. The first resistance is near $0.3520 or the 50% Fib retracement level of the downward move from the $0.3681 swing high to the $0.3409 low. The next key resistance might be $0.3550. If there is a close above the $0.3550 resistance, the price could start a strong rally. In the stated case, the price could rise toward the $0.3680 region. Any more gains might call for a move toward $0.400. More Downsides in ADA? If Cardano’s price fails to climb above the $0.3550 resistance level, it could start another decline. Immediate support on the downside is near the $0.3420 level. The next major support is near the $0.3400 level. A downside break below the $0.3400 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 – 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 – $0.3400 and $0.3350. Major Resistance Levels – $0.3460 and $0.3550.

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