Logo
Cardano Ecosystem
Livebitcoinnews

05/25/2022

·

536 views


Cardano (ADA) Price Analysis: Key Support Sits At $0.5

ADA price started a steady decline from the $0.70 resistance against the US Dollar. The price is now trading below $0.60 and the 55 simple moving average (4-hours). There was a break above a major bearish trend line with...

Cardano (ADA) Price Analysis: Key Support Sits At $0.5
  • ADA price started a steady decline from the $0.70 resistance against the US Dollar.
  • The price is now trading below $0.60 and the 55 simple moving average (4-hours).
  • There was a break above a major bearish trend line with resistance near $0.55 on the 4-hours chart (data feed via Bitfinex).
  • The price could continue to move down if it fails to recover above the $0.55 resistance zone.

Cardano price is recovering above $0.50 against the US Dollar, similar to bitcoin. ADA price could start a steady increase if it clears $0. 55 and $0.60.

Cardano Price Analysis

This week, cardano price saw a fresh decline from the $0.70 resistance zone against the US Dollar. The ADA/USD pair traded below the $0.65 and $0.55 support levels to move into a bearish zone.

The price settled below $0.55 and the 55 simple moving average (4-hours). It even spiked below the $0.500 level and traded as low as 0.4028. The price is now correcting losses and trading above the $0.500 level. There was a move above the 23.6% Fib retracement level of the key decline from the $0.905 swing high to $0.402 low.

Besides, there was a break above a major bearish trend line with resistance near $0.55 on the 4-hours chart. On the upside, an immediate resistance is near the $0.50 level and the 55 simple moving average (4-hours).

The first major resistance is near the $0.600 level. A clear upside break above the $0.60 level might send the price towards the $0.65 resistance. It is near the 50% Fib retracement level of the key decline from the $0.905 swing high to $0.402 low.

The next key resistance might be near the $0.732 level. Any more gains could start a steady increase towards the $0.78 level in the near term. On the downside, an immediate support is near the $0.505 level.

The next major support is near the $0.50 level. If there are additional losses, the price may perhaps decline towards the $0.45 support level. A break below $0.45 could push the price towards the $0.40 level.

Cardano (ADA) Price

Cardano (ADA) Price

The chart indicates that ADA price is now trading below $0.60 and the 55 simple moving average (4-hours). Overall, the price could continue to move down if it fails to recover above the $0.55 resistance zone.

Technical Indicators

4 hours MACD – The MACD for ADA/USD is slowly losing pace in the bullish zone.

4 hours RSI – The RSI for ADA/USD is now near the 50 level.

Key Support Levels – $0.500 and $0.450.

Key Resistance Levels – $0.550 and $0.600.

Tags: ,

AD

World’s First Multi-Token ISPO — By Genius X - Starts on 12th of September, epoch 363!

Genius X, a revolutionary launchpad and business accelerator helping Web3 startups attain speed, scale, and edge, is thrilled to announce the world’s first Multi-Token ISPO.I WANT TO KNOW MORE!


Read Original Article on Livebitcoinnews

ORIGINAL SOURCE

https://www.livebitcoinnews.com/cardano-...

Disclaimer: Cardano Feed is a Decentralized News Aggregator that enables journalists, influencers, editors, publishers, websites and community members to share news about the Cardano Ecosystem. User must always do their own research and none of those articles are financial advices. The content is for informational purposes only and does not necessarily reflect our opinion.


More from Livebitcoinnews

Cardano (ADA) Price Analysis: Support Turned Resistance Near $2.30
Livebitcoinnews

Cardano (ADA) Price Analysis: Support Turned Resistance Near $2.30

09/21/2021

·

1.2K views

Cardano (ADA) Price Analysis: $3.00 Presents Key Resistance

Cardano (ADA) Price Analysis: $3.00 Presents Key Resistance

08/24/2021

·

1.1K views

Cardano (ADA) Price Analysis: Key Upsides Break above $1.62 Likely

Cardano (ADA) Price Analysis: Key Upsides Break above $1.62 Likely

06/15/2021

·

1K views

Cardano (ADA) Price Analysis: More Gains above $1.50 Likely

Cardano (ADA) Price Analysis: More Gains above $1.50 Likely

07/06/2021

·

932 views

Related News

Bashoswap, a Cardano DEX & Launchpad, Launches Private Sale Whitelist
Cardano Feed

Bashoswap, a Cardano DEX & Launchpad, Launches Private Sale Whitelist

03/22/2022

·

222.8K views

Cardalonia On A Mission To Become The Sandbox Of Cardano Ecosystem, Shares First Look Of Their Metaverse Map
Bitcoinethereumnews

Cardalonia On A Mission To Become The Sandbox Of Cardano Ecosystem, Shares First Look Of Their Metaverse Map

08/18/2022

·

140.1K views

MuesliSwap, first DEX on Cardano mainnet, approaching 50k Smart Contract interactions

MuesliSwap, first DEX on Cardano mainnet, approaching 50k Smart Contract interactions

12/19/2021

·

94.7K views

Cardano Feed launches real-time news integration about Cardano with Google News

Cardano Feed launches real-time news integration about Cardano with Google News

11/09/2021

·

81.7K views

World’s First Multi-Token ISPO — By Genius X

Featured News

Ravendex gears up for launchpad and staking platform release
Cardano Feed

Ravendex gears up for launchpad and staking platform release

RocketPad Records 73.9131 % of Its 100,000 ADA soft cap For Seed Sale Round., Business News

RocketPad Records 73.9131 % of Its 100,000 ADA soft cap For Seed Sale Round., Business News


Featured ISPOs

Genius X

GENSX ISPO

ACTIVE

250M $GENSX · Ends in 09/12/2022

Bringing Fixed Assets (CNFT & CNT) Lending & Borrowing to Cardano

Featured Projects

Cardalonia

Cardalonia

Metaverse

Featured
MuesliSwap

MuesliSwap

Exchanges (DEX)

Featured

WingRiders Governance Token