{"id":630315,"date":"2024-07-18T05:08:37","date_gmt":"2024-07-18T05:08:37","guid":{"rendered":"https:\/\/uniquehot.com\/?p=630315"},"modified":"2024-07-18T04:00:28","modified_gmt":"2024-07-18T04:00:28","slug":"cardano-ada-could-retrace-0-4250","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/analysis\/ada\/cardano-ada-could-retrace-0-4250\/","title":{"rendered":"Cardano (ADA) Could Retrace Gains, Yet the Bullish Trend Persists"},"content":{"rendered":"<p><em>Cardano price extended gains above the $0.4350 resistance. ADA is now consolidating gains and might correct lower toward the $0.4250 support.<\/em><\/p>\n<ul>\n<li>ADA price climbed higher and tested the $0.4565 zone.<\/li>\n<li>The price is trading above $0.4320 and the 100-hourly simple moving average.<\/li>\n<li>There was a break below a key bullish trend line with support at $0.4400 on the hourly chart of the ADA\/USD pair (data source from Kraken).<\/li>\n<li>The pair could correct lower and test the $0.4250 support zone.<\/li>\n<\/ul>\n<h2>Cardano Price Shows Signs of Short-Term Weakness<\/h2>\n<p>In the past few days, Cardano gained pace for a move above the $0.40 resistance zone. ADA climbed above the $0.420 and $0.4250 resistance levels, like <a href=\"https:\/\/uniquehot.com\/analysis\/btc\/bitcoin-price-steadies-64k\/\" target=\"_blank\" rel=\"noopener \">Bitcoin<\/a> and <a href=\"https:\/\/uniquehot.com\/analysis\/eth\/ethereum-price-strong-3380\/\" target=\"_blank\" rel=\"noopener \">Ethereum<\/a>.<\/p>\n<p>It even cleared the $0.450 resistance and tested $0.4650. A high was formed at $0.4680 and the price is now correcting gains. There was a move below the $0.4450 and $0.4400 support levels. There was a break below a key bullish trend line with support at $0.4400 on the hourly chart of the ADA\/USD pair.<\/p>\n<p>A low was formed at $0.4359 and the price is stuck in a range. ADA price is now trading above $0.4320 and the 100-hourly simple moving average. If there is another upward move, the price might face resistance near the $0.4465 zone and the 50% Fib retracement level of the downward move from the $0.4568 swing high to the $0.4359 low.<\/p>\n<figure id=\"attachment_630316\" aria-describedby=\"caption-attachment-630316\" style=\"width: 1024px\" class=\"wp-caption alignnone\"><a href=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/07\/Cardano-ADA_88d854.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"wp-image-630316 size-full\" src=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/07\/Cardano-ADA_88d854.png?resize=1024%2C461\" alt=\"Cardano (ADA)\" width=\"1024\" height=\"461\" srcset=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/07\/Cardano-ADA_88d854.png?w=1835 1835w, https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/07\/Cardano-ADA_88d854.png?w=460 460w, https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/07\/Cardano-ADA_88d854.png?w=768 768w, https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/07\/Cardano-ADA_88d854.png?w=860 860w, https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/07\/Cardano-ADA_88d854.png?w=1536 1536w, https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/07\/Cardano-ADA_88d854.png?w=750 750w, https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/07\/Cardano-ADA_88d854.png?w=1140 1140w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><\/a><figcaption id=\"caption-attachment-630316\" class=\"wp-caption-text\">Source: <a href=\"https:\/\/www.tradingview.com\/symbols\/ADAUSD\/\" target=\"_blank\" rel=\"noopener nofollow\">ADAUSD on TradingView.com<\/a><\/figcaption><\/figure>\n<p>The first resistance is near $0.450. The next key resistance might be $0.4650. If there is a close above the $0.4650 resistance, the price could start a strong rally. In the stated case, the price could rise toward the $0.4880 region. Any more gains might call for a move toward $0.500.<\/p>\n<h2>Downside Correction in ADA?<\/h2>\n<p>If Cardano\u2019s price fails to climb above the $0.4465 resistance level, it could start a downside correction. Immediate support on the downside is near the $0.4360 level.<\/p>\n<p>The next major support is near the $0.4250 level. A downside break below the $0.4250 level could open the doors for a test of $0.4050. The next major support is near the $0.400 level.<\/p>\n<p>Technical Indicators<\/p>\n<p>Hourly MACD \u2013 The MACD for ADA\/USD is losing momentum in the bullish zone.<\/p>\n<p>Hourly RSI (Relative Strength Index) \u2013 The RSI for ADA\/USD is now below the 50 level.<\/p>\n<p>Major Support Levels \u2013 $0.4360 and $0.4250.<\/p>\n<p>Major Resistance Levels \u2013 $0.4465 and $0.4650.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Cardano price extended gains above the $0.4350 resistance. ADA is now consolidating gains and might correct lower toward the $0.4250 support. ADA price climbed higher and tested the $0.4565 zone. The price is trading above $0.4320 and the 100-hourly simple moving average. There was a break below a key bullish trend line with support at $0.4400 on the hourly chart of the ADA\/USD pair (data source from Kraken). The pair could correct lower and test the $0.4250 support zone. Cardano Price Shows Signs of Short-Term Weakness In the past few days, Cardano gained pace for a move above the $0.40 resistance zone. ADA climbed above the $0.420 and $0.4250 resistance levels, like Bitcoin and Ethereum. It even cleared the $0.450 resistance and tested $0.4650. A high was formed at $0.4680 and the price is now correcting gains. There was a move below the $0.4450 and $0.4400 support levels. There was a break below a key bullish trend line with support at $0.4400 on the hourly chart of the ADA\/USD pair. A low was formed at $0.4359 and the price is stuck in a range. ADA price is now trading above $0.4320 and the 100-hourly simple moving average. If there is another upward move, the price might face resistance near the $0.4465 zone and the 50% Fib retracement level of the downward move from the $0.4568 swing high to the $0.4359 low. The first resistance is near $0.450. The next key resistance might be $0.4650. If there is a close above the $0.4650 resistance, the price could start a strong rally. In the stated case, the price could rise toward the $0.4880 region. Any more gains might call for a move toward $0.500. Downside Correction in ADA? If Cardano\u2019s price fails to climb above the $0.4465 resistance level, it could start a downside correction. Immediate support on the downside is near the $0.4360 level. The next major support is near the $0.4250 level. A downside break below the $0.4250 level could open the doors for a test of $0.4050. The next major support is near the $0.400 level. Technical Indicators Hourly MACD \u2013 The MACD for ADA\/USD is losing momentum in the bullish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for ADA\/USD is now below the 50 level. Major Support Levels \u2013 $0.4360 and $0.4250. Major Resistance Levels \u2013 $0.4465 and $0.4650.<\/p>\n","protected":false},"author":67,"featured_media":630317,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[83371],"tags":[79516,14643,79508,12332],"class_list":["post-630315","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ada","tag-adabtc","tag-adausd","tag-adausdt","tag-cardano"],"acf":[],"yoast_head":"\n<title>Cardano (ADA) Could Retrace Gains, Yet the Bullish Trend Persists<\/title>\n<meta name=\"description\" content=\"Cardano price extended gains above the $0.4350 resistance. 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