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{"id":528248,"date":"2023-04-24T05:25:27","date_gmt":"2023-04-24T05:25:27","guid":{"rendered":"https:\/\/wncen.com\/?p=528248"},"modified":"2024-06-11T14:35:41","modified_gmt":"2024-06-11T14:35:41","slug":"ada-price-cardano-correction-0-38","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/cardano\/ada-price-cardano-correction-0-38\/","title":{"rendered":"ADA Price (Cardano) Close Below $0.38 Could Spark Larger Degree Correction"},"content":{"rendered":"

Cardano\u2019s price started a fresh decline from the $0.460 resistance. ADA could decline further if there is a clear move below the $0.38 support.<\/em><\/p>\n

\n
ADA price declined heavily from the $0.460 resistance against the US dollar.<\/li>\n
The price is trading below $0.400 and the 100 simple moving average (4 hours).<\/li>\n
There was a break below a key bullish trend line with support near $0.4150 on the 4-hour chart of the ADA\/USD pair (data source from Kraken).<\/li>\n
The pair could start a recovery wave if it clears the $0.400 resistance zone.<\/li>\n<\/ul>\n
Cardano\u2019s ADA Price Revisits Key Support<\/h2>\n
After a decent increase, Cardano\u2019s price faced resistance near the $0.460 zone. The price faced an increase in selling pressure and started a fresh decline below $0.420, similar to Bitcoin<\/a> and Ethereum<\/a>.<\/p>\n
There was a clear move below the $0.40 support zone. Besides, there was a break below a key bullish trend line with support near $0.4150 on the 4-hour chart of the ADA\/USD pair. The pair even tested the $0.380 support zone.<\/p>\n
A low is formed near $0.3803 and the price is now consolidating losses. It is trading below $0.400 and the 100 simple moving average (4 hours). On the upside, immediate resistance is near the $0.400 zone. It is near the 23.6% Fib retracement level of the main decline from the $0.4616 swing high to the 0.3803 low.<\/p>\n
The next major resistance is forming near the $0.410 zone or the 100 simple moving average (4 hours). If there is an upside break above the $0.400 and $0.410 resistance levels, the price could start a decent increase.<\/p>\n
$\"ADA$ <\/a><\/p>\n
Source: ADAUSD on TradingView.com<\/a><\/p>\n
In the stated case, the price could rise steadily toward the $0.41 level or the 50% Fib retracement level of the main decline from the $0.4616 swing high to the 0.3803 low. The next key resistance might be $0.432.<\/p>\n
More Losses?<\/h2>\n
If Cardano’s price fails to climb above the $0.400 and $0.410 resistance levels, it could continue to move down. Immediate support on the downside is near the $0.380 level.<\/p>\n
The next major support is near the $0.372 level. A downside break below the $0.372 level could open the doors for a fresh decline toward $0.350. The next major support is near the $0.325 level.<\/p>\n
Technical Indicators<\/p>\n
4 hours MACD \u2013 The MACD for ADA\/USD is losing momentum in the bearish zone.<\/p>\n
4 hours RSI (Relative Strength Index) \u2013 The RSI for ADA\/USD is now below the 50 level.<\/p>\n
Major Support Levels \u2013 $0.380, $0.372, and $0.350.<\/p>\n
Major Resistance Levels \u2013 $0.400, $0.410, and $0.420.<\/p>\n","protected":false},"excerpt":{"rendered":"
Cardano\u2019s price started a fresh decline from the $0.460 resistance. ADA could decline further if there is a clear move below the $0.38 support. ADA price declined heavily from the $0.460 resistance against the US dollar. The price is trading below $0.400 and the 100 simple moving average (4 hours). There was a break below a key bullish trend line with support near $0.4150 on the 4-hour chart of the ADA\/USD pair (data source from Kraken). The pair could start a recovery wave if it clears the $0.400 resistance zone. Cardano\u2019s ADA Price Revisits Key Support After a decent increase, Cardano\u2019s price faced resistance near the $0.460 zone. The price faced an increase in selling pressure and started a fresh decline below $0.420, similar to Bitcoin and Ethereum. There was a clear move below the $0.40 support zone. Besides, there was a break below a key bullish trend line with support near $0.4150 on the 4-hour chart of the ADA\/USD pair. The pair even tested the $0.380 support zone. A low is formed near $0.3803 and the price is now consolidating losses. It is trading below $0.400 and the 100 simple moving average (4 hours). On the upside, immediate resistance is near the $0.400 zone. It is near the 23.6% Fib retracement level of the main decline from the $0.4616 swing high to the 0.3803 low. The next major resistance is forming near the $0.410 zone or the 100 simple moving average (4 hours). If there is an upside break above the $0.400 and $0.410 resistance levels, the price could start a decent increase. Source: ADAUSD on TradingView.com In the stated case, the price could rise steadily toward the $0.41 level or the 50% Fib retracement level of the main decline from the $0.4616 swing high to the 0.3803 low. The next key resistance might be $0.432. More Losses? If Cardano’s price fails to climb above the $0.400 and $0.410 resistance levels, it could continue to move down. Immediate support on the downside is near the $0.380 level. The next major support is near the $0.372 level. A downside break below the $0.372 level could open the doors for a fresh decline toward $0.350. The next major support is near the $0.325 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 $0.380, $0.372, and $0.350. Major Resistance Levels \u2013 $0.400, $0.410, and $0.420.<\/p>\n","protected":false},"author":67,"featured_media":506565,"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":[12333,14643,79508,12332],"class_list":["post-528248","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cardano","tag-ada","tag-adausd","tag-adausdt","tag-cardano"],"acf":[],"yoast_head":"\nADA Price (Cardano) Close Below $0.38 Could Spark Larger Degree Correction<\/title>\n<meta name=\"description\" content=\"Cardano\u2019s price started a fresh decline from the $0.460 resistance. 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His background in software engineering has equipped him with a unique skill set, enabling him to leverage cutting-edge tools and algorithms to gain a competitive edge in an ever-evolving landscape. In addition to his roles in finance and technology, Aayush serves as the director of a prestigious IT company, where he spearheads initiatives aimed at driving digital innovation and transformation. Under his visionary leadership, the company has flourished, cementing its position as a leader in the tech industry and paving the way for groundbreaking advancements in software development and IT solutions. Despite his demanding professional commitments, Aayush is a firm believer in the importance of work-life balance. An avid traveler and adventurer, he finds solace in exploring new destinations, immersing himself in different cultures, and forging lasting memories along the way. Whether he's trekking through the Himalayas, diving in the azure waters of the Maldives, or experiencing the vibrant energy of bustling metropolises, Aayush embraces every opportunity to broaden his horizons and create unforgettable experiences. Aayush's journey to success is marked by a relentless pursuit of excellence and a steadfast commitment to continuous learning and growth. His academic achievements are a testament to his dedication and passion for excellence, having completed his software engineering with honors and excelling in every department. At his core, Aayush is driven by a profound passion for analyzing markets and uncovering profitable opportunities amidst volatility. Whether he's poring over price charts, identifying key support and resistance levels, or providing insightful analysis to his clients and followers, Aayush's unwavering dedication to his craft sets him apart as a true industry leader and a beacon of inspiration to aspiring traders around the globe. In a world where uncertainty reigns supreme, Aayush Jindal stands as a guiding light, illuminating the path to financial success with his unparalleled expertise, unwavering integrity, and boundless enthusiasm for the markets.","sameAs":["https:\/\/www.linkedin.com\/in\/aayush-jindal-358b6932\/","https:\/\/x.com\/twitter.com\/AayushJs"],"url":"https:\/\/wncen.com\/author\/aayushjindal\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"ADA Price (Cardano) Close Below $0.38 Could Spark Larger Degree Correction","url":"http:\/\/wncen.com\/news\/cardano\/ada-price-cardano-correction-0-38\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/cardano\/ada-price-cardano-correction-0-38\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2022\/10\/Depositphotos_183063862_s-2019.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2022\/10\/Depositphotos_183063862_s-2019.jpg?fit=999%2C738"},"articleSection":"Cardano","author":[{"@type":"Person","name":"Aayush Jindal"}],"creator":["Aayush Jindal"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["ada","adausd","adausdt","cardano"],"dateCreated":"2023-04-24T05:25:27Z","datePublished":"2023-04-24T05:25:27Z","dateModified":"2024-06-11T14:35:41Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"ADA Price (Cardano) Close Below $0.38 Could Spark Larger Degree Correction\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/cardano\\\/ada-price-cardano-correction-0-38\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/cardano\\\/ada-price-cardano-correction-0-38\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2022\\\/10\\\/Depositphotos_183063862_s-2019.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2022\\\/10\\\/Depositphotos_183063862_s-2019.jpg?fit=999%2C738\"},\"articleSection\":\"Cardano\",\"author\":[{\"@type\":\"Person\",\"name\":\"Aayush Jindal\"}],\"creator\":[\"Aayush Jindal\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"ada\",\"adausd\",\"adausdt\",\"cardano\"],\"dateCreated\":\"2023-04-24T05:25:27Z\",\"datePublished\":\"2023-04-24T05:25:27Z\",\"dateModified\":\"2024-06-11T14:35:41Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2022\/10\/Depositphotos_183063862_s-2019.jpg?fit=999%2C738","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/528248","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/67"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=528248"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/528248\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/506565"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=528248"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=528248"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=528248"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}