{"id":610327,"date":"2024-05-29T02:58:01","date_gmt":"2024-05-29T02:58:01","guid":{"rendered":"https:\/\/wncen.com\/?p=610327"},"modified":"2024-06-11T06:50:13","modified_gmt":"2024-06-11T06:50:13","slug":"cardano-ada-bounce-0-4520","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/cardano\/cardano-ada-bounce-0-4520\/","title":{"rendered":"Can Cardano (ADA) Bounce Back? A Closer Look at Its Recovery Potential"},"content":{"rendered":"<p><em>Cardano (ADA) corrected gains and tested the $0.4520 support zone. ADA must stay above the $0.450 support to start a fresh upward move.<\/em><\/p>\n<ul>\n<li>ADA price is struggling to gain bullish momentum above the $0.4750 zone.<\/li>\n<li>The price is trading below $0.460 and the 100-hourly simple moving average.<\/li>\n<li>There was a break above a connecting bearish trend line with resistance at $0.4570 on the hourly chart of the ADA\/USD pair (data source from Kraken).<\/li>\n<li>The pair could gain bullish momentum if there is a close above $0.4620.<\/li>\n<\/ul>\n<h2>Cardano Price Tests Support<\/h2>\n<p>In the past few sessions, Cardano started a downward move after it failed to clear the $0.4750 resistance. ADA dipped below the $0.4620 support and tested the key support at $0.4520 like <a href=\"https:\/\/wncen.com\/analysis\/btc\/bitcoin-price-struggles-70k\/\" target=\"_blank\" rel=\"noopener \">Bitcoin<\/a> and <a href=\"https:\/\/wncen.com\/analysis\/eth\/ethereum-price-support-3760\/\" target=\"_blank\" rel=\"noopener \">Ethereum<\/a>.<\/p>\n<p>A low was formed at $0.4516 and the price is now consolidating losses. There was a minor recovery wave above the $0.4550 zone. There was a break above a connecting bearish trend line with resistance at $0.4570 on the hourly chart of the ADA\/USD pair. The pair tested the 23.6% Fib retracement level of the recent decline from the $0.4743 swing high to the $0.4516 low.<\/p>\n<p>Cardano is now trading below $0.4620 and the 100-hourly simple moving average. On the upside, immediate resistance is near the $0.4960 zone. The first resistance is near $0.4620 or the 50% Fib retracement level of the recent decline from the $0.4743 swing high to the $0.4516 low.<\/p>\n<figure id=\"attachment_610328\" aria-describedby=\"caption-attachment-610328\" style=\"width: 1024px\" class=\"wp-caption alignnone\"><a href=\"https:\/\/wncen.com\/wp-content\/uploads\/2024\/05\/Cardano-ADA_ae393e.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"wp-image-610328 size-full\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2024\/05\/Cardano-ADA_ae393e.png?resize=1024%2C449\" alt=\"Cardano (ADA)\" width=\"1024\" height=\"449\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2024\/05\/Cardano-ADA_ae393e.png?w=1950 1950w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/05\/Cardano-ADA_ae393e.png?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/05\/Cardano-ADA_ae393e.png?w=768 768w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/05\/Cardano-ADA_ae393e.png?w=860 860w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/05\/Cardano-ADA_ae393e.png?w=1536 1536w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/05\/Cardano-ADA_ae393e.png?w=750 750w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/05\/Cardano-ADA_ae393e.png?w=1140 1140w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><\/a><figcaption id=\"caption-attachment-610328\" 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>The next key resistance might be $0.4750. If there is a close above the $0.4750 resistance, the price could start a strong rally. In the stated case, the price could rise toward the $0.50 region. Any more gains might call for a move toward $0.5250.<\/p>\n<h2>More Losses in ADA?<\/h2>\n<p>If Cardano\u2019s price fails to climb above the $0.4620 resistance level, it could continue to move down. Immediate support on the downside is near the $0.4520 level.<\/p>\n<p>The next major support is near the $0.4460 level. A downside break below the $0.4460 level could open the doors for a test of $0.4320. The next major support is near the $0.420 level.<\/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 $0.4520, $0.4460, and $0.4320.<\/p>\n<p>Major Resistance Levels \u2013 $0.4620 and $0.4750.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Cardano (ADA) corrected gains and tested the $0.4520 support zone. ADA must stay above the $0.450 support to start a fresh upward move. ADA price is struggling to gain bullish momentum above the $0.4750 zone. The price is trading below $0.460 and the 100-hourly simple moving average. There was a break above a connecting bearish trend line with resistance at $0.4570 on the hourly chart of the ADA\/USD pair (data source from Kraken). The pair could gain bullish momentum if there is a close above $0.4620. Cardano Price Tests Support In the past few sessions, Cardano started a downward move after it failed to clear the $0.4750 resistance. ADA dipped below the $0.4620 support and tested the key support at $0.4520 like Bitcoin and Ethereum. A low was formed at $0.4516 and the price is now consolidating losses. There was a minor recovery wave above the $0.4550 zone. There was a break above a connecting bearish trend line with resistance at $0.4570 on the hourly chart of the ADA\/USD pair. The pair tested the 23.6% Fib retracement level of the recent decline from the $0.4743 swing high to the $0.4516 low. Cardano is now trading below $0.4620 and the 100-hourly simple moving average. On the upside, immediate resistance is near the $0.4960 zone. The first resistance is near $0.4620 or the 50% Fib retracement level of the recent decline from the $0.4743 swing high to the $0.4516 low. The next key resistance might be $0.4750. If there is a close above the $0.4750 resistance, the price could start a strong rally. In the stated case, the price could rise toward the $0.50 region. Any more gains might call for a move toward $0.5250. More Losses in ADA? If Cardano\u2019s price fails to climb above the $0.4620 resistance level, it could continue to move down. Immediate support on the downside is near the $0.4520 level. The next major support is near the $0.4460 level. A downside break below the $0.4460 level could open the doors for a test of $0.4320. The next major support is near the $0.420 level. 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 $0.4520, $0.4460, and $0.4320. Major Resistance Levels \u2013 $0.4620 and $0.4750.<\/p>\n","protected":false},"author":67,"featured_media":610329,"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-610327","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>Can Cardano (ADA) Bounce Back? A Closer Look at Its Recovery Potential<\/title>\n<meta name=\"description\" content=\"Cardano (ADA) corrected gains and tested the $0.4520 support zone. 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