• Live Crypto Prices
  • Crypto News
    • Worldwide
      • Bitcoin
      • Ethereum
      • Altcoin
      • Blockchain
      • Regulation
    • Australian Crypto News
  • Education
    • Cryptocurrency For Beginners
    • Where to Buy Cryptocurrency
    • Where to Store Cryptos
    • Cryptocurrency Tax in Australia 2021
No Result
View All Result
CryptoABC.net
No Result
View All Result

Cardano (ADA) at a Crossroads: Could Bears Take Control Again?

February 4, 2025
in Bitcoin
Reading Time: 2min read
0 0
A A
0
Cardano (ADA) at a Crossroads: Could Bears Take Control Again?
0
SHARES
0
VIEWS
ShareShareShareShareShare

Cardano price started a fresh decline below the $0.9250 zone. ADA is now correcting losses and struggling to clear the $0.80 resistance.

  • ADA price started a fresh decline from the $0.9250 zone.
  • The price is trading below $0.850 and the 100-hourly simple moving average.
  • There is a key bearish trend line forming with resistance at $0.8050 on the hourly chart of the ADA/USD pair (data source from Kraken).
  • The pair could start another decline if it trades below the $0.7650 support zone.

Cardano Price Faces Resistance

After struggling to stay above the $0.950 level, Cardano started a fresh decline like Bitcoin and Ethereum. ADA declined below the $0.90 and $0.850 support levels.

There was a clear move below the $0.60 support zone. A low was formed at $0.5105 and the price recently started a decent upward move. The price cleared the $0.60 and $0.70 resistance levels. The bulls pumped the price above the 50% Fib retracement level of the downward move from the $0.9828 swing high to the $0.5105 low.

However, the bears are now active near the $0.80 zone. There is also a key bearish trend line forming with resistance at $0.8050 on the hourly chart of the ADA/USD pair.

Cardano price is now trading below $0.80 and the 100-hourly simple moving average. On the upside, the price might face resistance near the $0.80 zone and the 61.8% Fib retracement level of the downward move from the $0.9828 swing high to the $0.5105 low.

The first resistance is near $0.820. The next key resistance might be $0.850. If there is a close above the $0.850 resistance, the price could start a strong rally. In the stated case, the price could rise toward the $0.9250 region. Any more gains might call for a move toward $1.00 in the near term.

Another Decline in ADA?

If Cardano’s price fails to climb above the $0.80 resistance level, it could start another decline. Immediate support on the downside is near the $0.7650 level.

The next major support is near the $0.7230 level. A downside break below the $0.7230 level could open the doors for a test of $0.6880. The next major support is near the $0.6250 level where the bulls might emerge.

Technical Indicators

Hourly MACD – The MACD for ADA/USD is losing momentum in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for ADA/USD is now above the 50 level.

Major Support Levels – $0.7650 and $0.7230.

Major Resistance Levels – $0.8000 and $0.8200.

Credit: Source link

ShareTweetSendPinShare
Previous Post

Coinbase and Marathon to Testify at Congressional Probe into ‘Operation Chokepoint 2.0’

Next Post

President Trump Signs Order Calling for Sovereign Wealth Fund, BTC Reserve Soon?

Next Post
President Trump Signs Order Calling for Sovereign Wealth Fund, BTC Reserve Soon?

President Trump Signs Order Calling for Sovereign Wealth Fund, BTC Reserve Soon?

You might also like

Argentinian President Milei Cleared in Ethics Probe Over Crypto Promotion

Argentinian President Milei Cleared in Ethics Probe Over Crypto Promotion

June 9, 2025
Community Divided Over Developers’ New Policy

Community Divided Over Developers’ New Policy

June 9, 2025
Bitcoin Price Surges Above $64,000 — Here’s The Resistance Level To Watch

Watch Out For These Levels If Bitcoin Price Returns To $100K: Blockchain Firm

June 7, 2025
Republican Senator Josh Hawley Breaks With Party Lines, Opposes Upcoming GENIUS Act: Report

Republican Senator Josh Hawley Breaks With Party Lines, Opposes Upcoming GENIUS Act: Report

June 6, 2025
Economist Henrik Zeberg Says Altcoins About To Kick Off Explosive Phase, Updates Outlook on dogwifhat and One Under-the-Radar Crypto

Economist Henrik Zeberg Says Altcoins About To Kick Off Explosive Phase, Updates Outlook on dogwifhat and One Under-the-Radar Crypto

June 5, 2025
Ripple Expands into Japan with Web3 Partnership as XRP Treasury Investments Hit $500M

Ripple Expands into Japan with Web3 Partnership as XRP Treasury Investments Hit $500M

June 9, 2025
CryptoABC.net

This is an Australian online news/education portal that aims to provide the latest crypto news, real-time updates, education and reviews within Australia and around the world. Feel free to get in touch with us!

What's New Here!

Is Bitcoin Headed for a Meltdown? Veteran Trader Sees 75% Crash Ahead

Is Bitcoin Headed for a Meltdown? Veteran Trader Sees 75% Crash Ahead

June 11, 2025
VeChain Foundation Releases Q1 2024 Treasury Report

Together AI Launches Cost-Efficient Batch API for LLM Requests

June 11, 2025

Subscribe Now

  • Contact Us
  • Privacy Policy
  • Terms of Use
  • DMCA

© 2021 cryptoabc.net - All rights reserved!

No Result
View All Result
  • Live Crypto Prices
  • Crypto News
    • Worldwide
      • Bitcoin
      • Ethereum
      • Altcoin
      • Blockchain
      • Regulation
    • Australian Crypto News
  • Education
    • Cryptocurrency For Beginners
    • Where to Buy Cryptocurrency
    • Where to Store Cryptos
    • Cryptocurrency Tax in Australia 2021

© 2021 cryptoabc.net - All rights reserved!

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
  • Heart NumberHeart Number(HTN)$0.000000-30.47%
  • TadpoleTadpole(TAD)$0.000000-1.76%
  • SEENSEEN(SEEN)$0.000000-2.27%
  • EvedoEvedo(EVED)$0.000000-0.80%
  • MarginswapMarginswap(MFI)$0.000000-2.17%
  • SakeTokenSakeToken(SAKE)$0.0000004.37%
  • WTF TokenWTF Token(WTF)$0.0000000.16%
  • BNSD FinanceBNSD Finance(BNSD)$0.000000-5.83%
  • RobotinaRobotina(ROX)$0.00000038.50%
  • CageCage(C4G3)$0.000000-3.67%