Cardano (ADA) Falls: Ethereum’s Decline Pulls Altcoins Down

Name	Symbol	Market	Market Cap ($)	Algorithm
TRON	TRXUSD	Crypto	11,953,712,758	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

TRON

TRXUSD

Crypto

11,953,712,758

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	0.001435	1.07%	0.135795	0.135517	0.135561

Price Change

Price Change %

Current Price

Bid Price

Offer

0.001435

1.07%

0.135795

0.135517

0.135561

High Price	Low Price	Open Price	Prev. Close	52 Week Range
0.136357	0.133459	0.13436	0.13436	0.071373 - 0.144371

High Price

Low Price

Open Price

Prev. Close

52 Week Range

0.136357

0.133459

0.13436

0.071373 - 0.144371

Exchange	Last Trade	Size	Trade Price	Currency
KRKN	23:12:08	1,742.44	0.135795	USD

Exchange

Last Trade

Size

Trade Price

Currency

KRKN

23:12:08

1,742.44

0.135795

USD

Price x Volume	Volume	Base Symbol	Related Pairs
106,950.17	790,784.15	TRX	TRXEUR	TRXGBP	TRXBTC

Price x Volume

Volume

Base Symbol

Related Pairs

106,950.17

790,784.15

Cardano (ADA) Falls: Ethereum’s Decline Pulls Altcoins Down

25/07/2024 6:08am

NEWSBTC

Cardano price started a fresh decline below the $0.4120 support. Ethereum’s decline seems to be dragging ADA lower toward the $0.380 support. ADA price started a fresh decline from the $0.450 resistance zone. The price is trading below $0.4120 and the 100-hourly simple moving average. There is a key bearish trend line forming with resistance at $0.4060 on the hourly chart of the ADA/USD pair (data source from Kraken). The pair could continue to move down and test the $0.380 support zone. Cardano Price Shows Signs of More Downsides After a steady increase, Cardano faced sellers near the $0.450 resistance zone. ADA formed a short-term top and started a pullback below the $0.4250 level. Recently, Ethereum’s decline dragged it further lower below the $0.400 support. A low is formed near $0.3919 and the price is consolidating losses with a bearish angle. There is also a key bearish trend line forming with resistance at $0.4060 on the hourly chart of the ADA/USD pair. Cardano price is now trading below $0.4100 and the 100-hourly simple moving average. If there is a recovery wave, the price might face resistance near the $0.4050 zone and the 50% Fib retracement level of the downward move from the $0.4211 swing high to the $0.3919 low. The first resistance is near $0.4150 or the 76.4% Fib retracement level of the downward move from the $0.4211 swing high to the $0.3919 low. The next key resistance might be $0.4220. If there is a close above the $0.4220 resistance, the price could start a strong rally. In the stated case, the price could rise toward the $0.4450 region. Any more gains might call for a move toward $0.4500. More Downsides in ADA? If Cardano’s price fails to climb above the $0.4050 resistance level, it could continue to move down. Immediate support on the downside is near the $0.3920 level. The next major support is near the $0.3800 level. A downside break below the $0.3800 level could open the doors for a test of $0.3650. The next major support is near the $0.3500 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 – $0.3920 and $0.3800. Major Resistance Levels – $0.4050 and $0.4150.

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