{"id":555064,"date":"2023-10-12T05:28:12","date_gmt":"2023-10-12T05:28:12","guid":{"rendered":"https:\/\/wncen.com\/?p=555064"},"modified":"2024-06-11T07:45:08","modified_gmt":"2024-06-11T07:45:08","slug":"ada-price-hints-correction-0-245","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/cardano\/ada-price-hints-correction-0-245\/","title":{"rendered":"ADA Price Hints At Potential Correction, Buy The Dip?"},"content":{"rendered":"<p><em>Cardano\u2019s price started a fresh decline below $0.250. ADA is testing important support at $0.2450 and might start a recovery wave.<\/em><\/p>\n<ul>\n<li>ADA price started a fresh decline below the $0.255 and $0.250 levels against the US dollar.<\/li>\n<li>The price is trading below $0.250 and the 100 simple moving average (4 hours).<\/li>\n<li>There is a key declining channel forming with resistance near $0.2480 on the 4-hour chart of the ADA\/USD pair (data source from Kraken).<\/li>\n<li>The pair must stay above the $0.2420 support to start a fresh increase in the near term.<\/li>\n<\/ul>\n<h2>Cardano\u2019s ADA Price Revisits Support<\/h2>\n<p>After a steady increase, Cardano failed to clear the $0.2650 resistance zone. The price formed a short-term top at $0.2668 and recently started a fresh decline, like <a href=\"https:\/\/wncen.com\/analysis\/btc\/bitcoin-bears-turns-the-tide-26500\/\" target=\"_blank\" rel=\"noopener \">Bitcoin<\/a> and <a href=\"https:\/\/wncen.com\/analysis\/eth\/ethereum-bulls-test-1550\/\" target=\"_blank\" rel=\"noopener \">Ethereum<\/a>.<\/p>\n<p>There was a drop below the $0.255 support level. Besides, there was a break below a key bullish trend line with support near $0.259 on the 4-hour chart of the ADA\/USD pair. The pair even declined below the $0.250 support and the 100 simple moving average (4 hours).<\/p>\n<p>A low is formed near $0.2450 and the price is now consolidating losses. Cardano is now trading below $0.250 and the 100 simple moving average (4 hours). On the upside, immediate resistance is near the $0.248 zone.<\/p>\n<p>There is also a key declining channel forming with resistance near $0.2480 on the 4-hour chart of the ADA\/USD pair. The first resistance is near $0.250 or the 23.6% Fib retracement level of the downward move from the $0.2668 swing high to the $0.2450 low.<\/p>\n<p><a href=\"https:\/\/wncen.com\/wp-content\/uploads\/2023\/10\/Cardano-ADA-1.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-555065\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2023\/10\/Cardano-ADA-1.png?resize=1024%2C468\" alt=\"Cardano Price ADA\" width=\"1024\" height=\"468\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2023\/10\/Cardano-ADA-1.png?w=1835 1835w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/10\/Cardano-ADA-1.png?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/10\/Cardano-ADA-1.png?w=768 768w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/10\/Cardano-ADA-1.png?w=860 860w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/10\/Cardano-ADA-1.png?w=1536 1536w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/10\/Cardano-ADA-1.png?w=750 750w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/10\/Cardano-ADA-1.png?w=1140 1140w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><\/a><\/p>\n<p>Source: <a href=\"https:\/\/www.tradingview.com\/symbols\/ADAUSD\/\" target=\"_blank\" rel=\"noopener nofollow\">ADAUSD on TradingView.com<\/a><\/p>\n<p>The next key resistance might be $0.2560 and the 50% Fib retracement level of the downward move from the $0.2668 swing high to the $0.2450 low. If there is a close above the $0.256 resistance, the price could start a decent increase. In the stated case, the price could rise toward the $0.285 resistance zone.<\/p>\n<h2>More Losses in ADA?<\/h2>\n<p>If Cardano\u2019s price fails to climb above the $0.250 resistance level, it could continue to move down. Immediate support on the downside is near the $0.245 level.<\/p>\n<p>The next major support is near the $0.242 level. A downside break below the $0.242 level could open the doors for a sharp fresh decline toward $0.220. The next major support is near the $0.200 level.<\/p>\n<p>Technical Indicators<\/p>\n<p>4 hours MACD \u2013 The MACD for ADA\/USD is losing momentum in the bearish zone.<\/p>\n<p>4 hours RSI (Relative Strength Index) \u2013 The RSI for ADA\/USD is now below the 50 level.<\/p>\n<p>Major Support Levels \u2013 $0.245, $0.242, and $0.220.<\/p>\n<p>Major Resistance Levels \u2013 $0.250, $0.255, and $0.285.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Cardano\u2019s price started a fresh decline below $0.250. ADA is testing important support at $0.2450 and might start a recovery wave. ADA price started a fresh decline below the $0.255 and $0.250 levels against the US dollar. The price is trading below $0.250 and the 100 simple moving average (4 hours). There is a key declining channel forming with resistance near $0.2480 on the 4-hour chart of the ADA\/USD pair (data source from Kraken). The pair must stay above the $0.2420 support to start a fresh increase in the near term. Cardano\u2019s ADA Price Revisits Support After a steady increase, Cardano failed to clear the $0.2650 resistance zone. The price formed a short-term top at $0.2668 and recently started a fresh decline, like Bitcoin and Ethereum. There was a drop below the $0.255 support level. Besides, there was a break below a key bullish trend line with support near $0.259 on the 4-hour chart of the ADA\/USD pair. The pair even declined below the $0.250 support and the 100 simple moving average (4 hours). A low is formed near $0.2450 and the price is now consolidating losses. Cardano is now trading below $0.250 and the 100 simple moving average (4 hours). On the upside, immediate resistance is near the $0.248 zone. There is also a key declining channel forming with resistance near $0.2480 on the 4-hour chart of the ADA\/USD pair. The first resistance is near $0.250 or the 23.6% Fib retracement level of the downward move from the $0.2668 swing high to the $0.2450 low. Source: ADAUSD on TradingView.com The next key resistance might be $0.2560 and the 50% Fib retracement level of the downward move from the $0.2668 swing high to the $0.2450 low. If there is a close above the $0.256 resistance, the price could start a decent increase. In the stated case, the price could rise toward the $0.285 resistance zone. More Losses in ADA? If Cardano\u2019s price fails to climb above the $0.250 resistance level, it could continue to move down. Immediate support on the downside is near the $0.245 level. The next major support is near the $0.242 level. A downside break below the $0.242 level could open the doors for a sharp fresh decline toward $0.220. The next major support is near the $0.200 level. Technical Indicators 4 hours MACD \u2013 The MACD for ADA\/USD is losing momentum in the bearish zone. 4 hours RSI (Relative Strength Index) \u2013 The RSI for ADA\/USD is now below the 50 level. Major Support Levels \u2013 $0.245, $0.242, and $0.220. Major Resistance Levels \u2013 $0.250, $0.255, and $0.285.<\/p>\n","protected":false},"author":67,"featured_media":382322,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[16896],"tags":[79516,14643,79508,12332],"class_list":["post-555064","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cardano","tag-adabtc","tag-adausd","tag-adausdt","tag-cardano"],"acf":[],"yoast_head":"\n<title>ADA Price Hints At Potential Correction, Buy The Dip?<\/title>\n<meta name=\"description\" content=\"Cardano\u2019s price started a fresh decline below $0.250. 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