{"id":541924,"date":"2023-07-10T04:38:12","date_gmt":"2023-07-10T04:38:12","guid":{"rendered":"https:\/\/wncen.com\/?p=541924"},"modified":"2024-06-11T14:38:29","modified_gmt":"2024-06-11T14:38:29","slug":"ada-price-consolidates-0-30","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/cardano\/ada-price-consolidates-0-30\/","title":{"rendered":"ADA Price Consolidates Below $0.30 – What Could Trigger A Sharp Decline?"},"content":{"rendered":"
Cardano\u2019s price is struggling below the $0.30 zone. ADA could start a sharp decline if it breaks the $0.2765 support zone in the near term.<\/em><\/p>\n
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ADA price is moving lower below the $0.292 support against the US dollar.<\/li>\n
The price is trading below $0.290 and the 100 simple moving average (4 hours).<\/li>\n
There is a major bullish trend line forming with support near $0.2815 on the 4-hour chart of the ADA\/USD pair (data source from Kraken).<\/li>\n
The pair could decline heavily if the bulls fail to protect the $0.2765 support zone.<\/li>\n<\/ul>\n
Cardano\u2019s ADA Price Faces Uphill Task<\/h2>\n
This past week, Cardano\u2019s price attempted a fresh increase above the $0.285 zone. The price climbed above the $0.295 resistance zone but the bears were active near the $0.30 zone.<\/p>\n
A high was formed near $0.3015 before there was a fresh decline. The price declined below the $0.285 level and tested the $0.2765 support. It is now consolidating losses below $0.292, similar to Bitcoin<\/a> and Ethereum<\/a>.<\/p>\n