{"id":648611,"date":"2024-10-18T05:08:22","date_gmt":"2024-10-18T05:08:22","guid":{"rendered":"https:\/\/uniquehot.com\/?p=648611"},"modified":"2024-10-18T04:06:19","modified_gmt":"2024-10-18T04:06:19","slug":"cardano-ada-recovery-0-3550","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/analysis\/ada\/cardano-ada-recovery-0-3550\/","title":{"rendered":"Cardano (ADA) Eyes a Potential Recovery: Can It Bounce Back?"},"content":{"rendered":"<p><em>Cardano price started a fresh decline below the $0.3565 zone. ADA is consolidating above $0.3420 and might attempt a recovery wave.<\/em><\/p>\n<ul>\n<li>ADA price started a downward move below the $0.3520 support level.<\/li>\n<li>The price is trading below $0.3500 and the 100-hourly simple moving average.<\/li>\n<li>There was a break above a key bearish trend line with resistance at $0.3460 on the hourly chart of the ADA\/USD pair (data source from Kraken).<\/li>\n<li>The pair could attempt a recovery wave if it clears the $0.3520 resistance zone.<\/li>\n<\/ul>\n<h2>Cardano Price Consolidates Losses<\/h2>\n<p>After testing the $0.3700 resistance, Cardano struggled to continue higher. ADA formed a short-term top and started a fresh decline, unlike <a href=\"https:\/\/uniquehot.com\/analysis\/btc\/bitcoin-price-upside-68k\/\" target=\"_blank\" rel=\"noopener \">Bitcoin<\/a> and <a href=\"https:\/\/uniquehot.com\/analysis\/eth\/ethereum-price-consolidates-2650\/\" target=\"_blank\" rel=\"noopener \">Ethereum<\/a>. There was a move below the $0.3550 and $0.3500 support levels.<\/p>\n<p>The price even declined below $0.3450 before the bulls appeared. A low was formed at $0.3394 and the price is now consolidating losses. There was a minor move above the $0.3420 level. The price cleared the 23.6% Fib retracement level of the downward move from the $0.3705 swing high to the $0.3394 low.<\/p>\n<p>Besides, there was a break above a key bearish trend line with resistance at $0.3460 on the hourly chart of the ADA\/USD pair. Cardano price is now trading below $0.350 and the 100-hourly simple moving average.<\/p>\n<p>On the upside, the price might face resistance near the $0.3515 zone. The first resistance is near $0.3550 or the 50% Fib retracement level of the downward move from the $0.3705 swing high to the $0.3394 low. The next key resistance might be $0.3620.<\/p>\n<figure id=\"attachment_648612\" aria-describedby=\"caption-attachment-648612\" style=\"width: 1024px\" class=\"wp-caption alignnone\"><a href=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/10\/Cardano-ADA_7f9244.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"wp-image-648612 size-full\" src=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/10\/Cardano-ADA_7f9244.png?resize=1024%2C478\" alt=\"Cardano Price\" width=\"1024\" height=\"478\" srcset=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/10\/Cardano-ADA_7f9244.png?w=1835 1835w, https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/10\/Cardano-ADA_7f9244.png?w=460 460w, https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/10\/Cardano-ADA_7f9244.png?w=768 768w, https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/10\/Cardano-ADA_7f9244.png?w=860 860w, https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/10\/Cardano-ADA_7f9244.png?w=1536 1536w, https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/10\/Cardano-ADA_7f9244.png?w=750 750w, https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/10\/Cardano-ADA_7f9244.png?w=1140 1140w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><\/a><figcaption id=\"caption-attachment-648612\" 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>If there is a close above the $0.3620 resistance, the price could start a strong rally. In the stated case, the price could rise toward the $0.3700 region. Any more gains might call for a move toward $0.3880.<\/p>\n<h2>More Downsides in ADA?<\/h2>\n<p>If Cardano\u2019s price fails to climb above the $0.350 resistance level, it could start another decline. Immediate support on the downside is near the $0.3420 level.<\/p>\n<p>The next major support is near the $0.3400 level. A downside break below the $0.3400 level could open the doors for a test of $0.3220. The next major support is near the $0.3100 level where the bulls might emerge.<\/p>\n<p>Technical Indicators<\/p>\n<p>Hourly MACD \u2013 The MACD for ADA\/USD is losing momentum in the bearish 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 $0.3400 and $0.3220.<\/p>\n<p>Major Resistance Levels \u2013 $0.3500 and $0.3550.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Cardano price started a fresh decline below the $0.3565 zone. ADA is consolidating above $0.3420 and might attempt a recovery wave. ADA price started a downward move below the $0.3520 support level. The price is trading below $0.3500 and the 100-hourly simple moving average. There was a break above a key bearish trend line with resistance at $0.3460 on the hourly chart of the ADA\/USD pair (data source from Kraken). The pair could attempt a recovery wave if it clears the $0.3520 resistance zone. Cardano Price Consolidates Losses After testing the $0.3700 resistance, Cardano struggled to continue higher. ADA formed a short-term top and started a fresh decline, unlike Bitcoin and Ethereum. There was a move below the $0.3550 and $0.3500 support levels. The price even declined below $0.3450 before the bulls appeared. A low was formed at $0.3394 and the price is now consolidating losses. There was a minor move above the $0.3420 level. The price cleared the 23.6% Fib retracement level of the downward move from the $0.3705 swing high to the $0.3394 low. Besides, there was a break above a key bearish trend line with resistance at $0.3460 on the hourly chart of the ADA\/USD pair. Cardano price is now trading below $0.350 and the 100-hourly simple moving average. On the upside, the price might face resistance near the $0.3515 zone. The first resistance is near $0.3550 or the 50% Fib retracement level of the downward move from the $0.3705 swing high to the $0.3394 low. The next key resistance might be $0.3620. If there is a close above the $0.3620 resistance, the price could start a strong rally. In the stated case, the price could rise toward the $0.3700 region. Any more gains might call for a move toward $0.3880. More Downsides in ADA? If Cardano\u2019s price fails to climb above the $0.350 resistance level, it could start another decline. Immediate support on the downside is near the $0.3420 level. The next major support is near the $0.3400 level. A downside break below the $0.3400 level could open the doors for a test of $0.3220. The next major support is near the $0.3100 level where the bulls might emerge. Technical Indicators Hourly MACD \u2013 The MACD for ADA\/USD is losing momentum in the bearish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for ADA\/USD is now below the 50 level. Major Support Levels \u2013 $0.3400 and $0.3220. Major Resistance Levels \u2013 $0.3500 and $0.3550.<\/p>\n","protected":false},"author":67,"featured_media":626615,"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-648611","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) Eyes a Potential Recovery: Can It Bounce Back?<\/title>\n<meta name=\"description\" content=\"Cardano price started a fresh decline below the $0.3565 zone. 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