- ADA price started a downside correction from the $0.538 zone against the US Dollar.
- The price is now trading below $0.52 and the 55 simple moving average (4 hours).
- There was a break below a major bullish trend line with support near $0.500 on the 4-hour chart (data feed via Coinbase).
- The price could start a fresh increase if it clears the $0.510 and $0.520 resistance levels.
Cardano’s price is consolidating above $0.4650 against the US Dollar, like Bitcoin. ADA price could resume its rally if there is a clear move above the $0.520 resistance.
Cardano Price (ADA) Analysis
In the past few weeks, Cardano’s price started a steady increase above the $0.485 resistance zone against the US Dollar. The ADA/USD pair gained pace for a move above the $0.500 and $0.520 levels.
The price tested the $0.538 zone. The recent high was formed near $0.5376 and the price corrected lower. There was a move below the $0.520 support zone. The price dipped below the 50% Fib retracement level of the upward move from the $0.4473 swing low to the $0.5376 high.
There was a break below a major bullish trend line with support near $0.500 on the 4-hour chart. ADA price is now trading below $0.520 and the 55 simple moving average (4 hours).
On the upside, immediate resistance is near the $0.510 zone. The next major resistance is near the $0.520 zone. A clear move above the $0.520 resistance might start a strong increase toward $0.538. Any more gains above the $0.538 resistance might send the price toward the $0.565 resistance or even $0.600.
On the downside, immediate support is near the $0.480 level. The next major support is near the $0.4680 level or the 76.4% Fib retracement level of the upward move from the $0.4473 swing low to the $0.5376 high.
A clear move below the $0.468 level might send the price toward the $0.4350 level. Any more losses might send the price toward the $0.4120 support.
The chart indicates that ADA price is now trading below $0.520 and the 55 simple moving average (4 hours). Overall, the price could gain bullish momentum if it clears the $0.510 and $0.520 resistance levels.
Technical Indicators
4 hours MACD – The MACD for ADA/USD is now gaining pace in the bearish zone.
4 hours RSI – The RSI for ADA/USD is now below the 50 level.
Key Support Levels – $0.480 and $0.468.
Key Resistance Levels – $0.510 and $0.520.
- SEO Powered Content & PR Distribution. Get Amplified Today.
- PlatoData.Network Vertical Generative Ai. Empower Yourself. Access Here.
- PlatoAiStream. Web3 Intelligence. Knowledge Amplified. Access Here.
- PlatoESG. Carbon, CleanTech, Energy, Environment, Solar, Waste Management. Access Here.
- PlatoHealth. Biotech and Clinical Trials Intelligence. Access Here.
- Source: https://www.livebitcoinnews.com/cardano-ada-price-analysis-risk-of-downside-break-below-0-480/
- :is
- 50
- 500
- 600
- a
- above
- ADA
- ada price
- ADA/USD
- against
- analysis
- and
- any
- average
- bearish
- below
- Bitcoin
- Bitcoin News
- Break
- Bullish
- Cardano
- Cardano (ADA)
- Chart
- clear
- coinbase
- consolidating
- corrected
- could
- data
- Dollar
- downside
- Even
- few
- For
- formed
- fresh
- fresh increase
- from
- Gain
- gained
- gaining
- Gains
- High
- HOURS
- HTTPS
- if
- immediate
- in
- Increase
- indicates
- IT
- ITS
- Level
- levels
- like
- Line
- live
- Live Bitcoin News
- losses
- Low
- lower
- MACD
- major
- max-width
- might
- Momentum
- more
- move
- moving
- moving average
- Near
- news
- next
- now
- of
- on
- or
- overall
- Pace
- pair
- past
- plato
- Plato Data Intelligence
- PlatoData
- price
- Price Analysis
- rally
- recent
- Resistance
- resume
- retracement
- Risk
- rsi
- send
- Simple
- start
- started
- steady
- strong
- support
- support levels
- Swing
- tested
- that
- The
- There.
- to
- toward
- Trading
- TradingView
- Trend
- Upside
- upward
- us
- US Dollar
- via
- was
- Weeks
- with
- zephyrnet
- zone