Logo
Cardano Ecosystem

Live BTC News

11/22/2022

·

316 views


Cardano (ADA) Price Analysis: Risk of More Losses Below $0.3 | Live Bitcoin News

ADA price gained bearish momentum below the $0.35 support zone against the US Dollar. The price is now trading below $0.350 and the 55 simple moving average (4-hours). There is a key bearish trend line...

Cardano (ADA) Price Analysis: Risk of More Losses Below $0.3 | Live Bitcoin News
  • ADA price gained bearish momentum below the $0.35 support zone against the US Dollar.
  • The price is now trading below $0.350 and the 55 simple moving average (4-hours).
  • There is a key bearish trend line forming with resistance near $0.312 on the 4-hours chart (data feed via Bitfinex).
  • The price could continue to move down if it fails to clear the $0.320 resistance zone.

Cardano price is struggling below $0.35 against the US Dollar, similar to bitcoin. ADA price could gain bearish momentum if it clears the $0.300 support.

Cardano Price Analysis

This past week, cardano price faced a strong rejection near the $0.330 zone against the US Dollar. The ADA/USD pair formed a high near $0.332 and started a fresh decline.

There was a clear move below the $0.320 and $0.312 support levels. The price even declined below the $0.300 support and the 55 simple moving average (4-hour). A low was formed near $0.2952 and the price is now correcting higher.

There was a minor increase above the $0.300 resistance zone. On the upside, an immediate resistance is near the $0.315 zone. It is near the 23.6% Fib retracement level of the downward move from the $0.395 swing high to $0.295 low.

There is also a key bearish trend line forming with resistance near $0.312 on the 4-hours chart. The first major resistance is near the $0.320 level or the 55 simple moving average (4-hour), above which the price might recover.

The next major resistance is near the $0.338 zone. It is near the 50% Fib retracement level of the downward move from the $0.395 swing high to $0.295 low. A clear upside break above the $0.338 level might send the price towards the $0.350 resistance.

Any more gains could start a steady increase towards the $0.380 level. On the downside, an immediate support is near the $0.300 level.

The next major support is near the $0.288 level, below which the price may perhaps decline towards the $0.265 support level. Any more losses might call for a test of the $0.250 level.

Cardano (ADA) Price

Cardano (ADA) Price

The chart indicates that ADA price is now trading below $0.35 and the 55 simple moving average (4-hours). Overall, the price could continue to move down if it fails to clear the $0.320 resistance zone.

Technical Indicators

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

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

Key Support Levels – $0.300 and $0.288.

Key Resistance Levels – $0.320 and $0.338.

Tags: ADA, Cardano

AD

Delegate Your Voting Power to FEED DRep in Cardano Governance.

DRep ID: drep12ukt4ctzmtf6l5rj76cddgf3dvuy0lfz7uky08jfvgr9ugaapz4 | We are driven to register as a DRep by our deep dedication to the Cardano ecosystem and our aspiration to take an active role in its development, ensuring that its progress stays true to the principles of decentralization, security, and community empowerment.DELEGATE VOTING POWER!


Read Original Article on Live BTC News

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.


An image that says Learn Blockchain technology and get ahead in the industry with a link to the Cardano Academy.

More from Live BTC News

See more
ZachXBT Questions ADA and XRP as Trump Backs Crypto | Live Bitcoin News
Live BTC News
ZachXBT Questions ADA and XRP as Trump Backs Crypto | Live Bitcoin News

03/04/2025

·

84 views

Related News

See more

Featured News

See more



    DEFAULTENGLISH (EN)SPANISH (ES)RUSSIAN (RU)GERMAN (DE)ITALIAN (IT)POLISH (PL)HUNGARIAN (HU)JAPANESE (JA)THAI (TH)ARABIC (AR)VIETNAMESE (VI)PERSIAN (FA)GREEK (EL)INDONESIAN (ID)ROMANIAN (RO)KOREAN (KO)FRENCH (FR)CZECH (CS)PORTUGUESE (PT)TURKISH (TR)