{"id":626613,"date":"2024-06-27T05:08:27","date_gmt":"2024-06-27T05:08:27","guid":{"rendered":"https:\/\/wncen.com\/?p=626613"},"modified":"2024-06-27T04:20:26","modified_gmt":"2024-06-27T04:20:26","slug":"cardano-ada-faces-decline-0-40","status":"publish","type":"post","link":"https:\/\/wncen.com\/analysis\/ada\/cardano-ada-faces-decline-0-40\/","title":{"rendered":"Cardano (ADA) Faces Fresh Decline: Key Drivers Behind The Downtrend"},"content":{"rendered":"<p><em>Cardano price failed to surpass $0.40 and started another decline. ADA is now trading below $0.3850 and might extend losses in the near term.<\/em><\/p>\n<ul>\n<li>ADA price started a fresh decline and traded below $0.3880.<\/li>\n<li>The price is trading below $0.3850 and the 100-hourly simple moving average.<\/li>\n<li>There was a break below a key bullish trend line with support at $0.3845 on the hourly chart of the ADA\/USD pair (data source from Kraken).<\/li>\n<li>The pair could extend losses and test the $0.370 support zone.<\/li>\n<\/ul>\n<h2>Cardano Price Dips Again<\/h2>\n<p>In the past few days, Cardano attempted a recovery wave above the $0.3650 zone like <a href=\"https:\/\/wncen.com\/analysis\/btc\/bitcoin-price-rejection-62500\/\" target=\"_blank\" rel=\"noopener \">Bitcoin<\/a> and <a href=\"https:\/\/wncen.com\/analysis\/eth\/ethereum-price-roadblocks-3450\/\" target=\"_blank\" rel=\"noopener \">Ethereum<\/a>. However, ADA failed to clear the $0.40 resistance zone. A high was formed at $0.3967 and the price started a fresh decline.<\/p>\n<p>There was a move below the $0.3880 and $0.3865 support levels. The price declined below the 23.6% Fib retracement level of the upward move from the $0.3620 swing low to the $0.3967 high. Besides, there was a break below a key bullish trend line with support at $0.3845 on the hourly chart of the ADA\/USD pair.<\/p>\n<p>ADA price is now trading below $0.3850 and the 100-hourly simple moving average. If there is another upward move, the price might face resistance near the $0.3850 zone.<\/p>\n<figure id=\"attachment_626614\" aria-describedby=\"caption-attachment-626614\" style=\"width: 1024px\" class=\"wp-caption alignnone\"><a href=\"https:\/\/wncen.com\/wp-content\/uploads\/2024\/06\/Cardano-ADA_8f33d2.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"wp-image-626614 size-full\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2024\/06\/Cardano-ADA_8f33d2.png?resize=1024%2C461\" alt=\"Cardano Price ADA\" width=\"1024\" height=\"461\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2024\/06\/Cardano-ADA_8f33d2.png?w=1835 1835w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/06\/Cardano-ADA_8f33d2.png?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/06\/Cardano-ADA_8f33d2.png?w=768 768w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/06\/Cardano-ADA_8f33d2.png?w=860 860w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/06\/Cardano-ADA_8f33d2.png?w=1536 1536w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/06\/Cardano-ADA_8f33d2.png?w=750 750w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/06\/Cardano-ADA_8f33d2.png?w=1140 1140w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><\/a><figcaption id=\"caption-attachment-626614\" 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 first resistance is near $0.3880. The next key resistance might be $0.40. If there is a close above the $0.40 resistance, the price could start a strong rally. In the stated case, the price could rise toward the $0.4150 region. Any more gains might call for a move toward $0.4250.<\/p>\n<h2>More Downsides in ADA?<\/h2>\n<p>If Cardano\u2019s price fails to climb above the $0.3850 resistance level, it could continue to move down. Immediate support on the downside is near the $0.3795 level or the 50% Fib retracement level of the upward move from the $0.3620 swing low to the $0.3967 high.<\/p>\n<p>The next major support is near the $0.370 level. A downside break below the $0.370 level could open the doors for a test of $0.350. The next major support is near the $0.3350 level.<\/p>\n<p>Technical Indicators<\/p>\n<p>Hourly MACD \u2013 The MACD for ADA\/USD is gaining 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 $0.3790, $0.370, and $0.350.<\/p>\n<p>Major Resistance Levels \u2013 $0.3880 and $0.400.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Cardano price failed to surpass $0.40 and started another decline. ADA is now trading below $0.3850 and might extend losses in the near term. ADA price started a fresh decline and traded below $0.3880. The price is trading below $0.3850 and the 100-hourly simple moving average. There was a break below a key bullish trend line with support at $0.3845 on the hourly chart of the ADA\/USD pair (data source from Kraken). The pair could extend losses and test the $0.370 support zone. Cardano Price Dips Again In the past few days, Cardano attempted a recovery wave above the $0.3650 zone like Bitcoin and Ethereum. However, ADA failed to clear the $0.40 resistance zone. A high was formed at $0.3967 and the price started a fresh decline. There was a move below the $0.3880 and $0.3865 support levels. The price declined below the 23.6% Fib retracement level of the upward move from the $0.3620 swing low to the $0.3967 high. Besides, there was a break below a key bullish trend line with support at $0.3845 on the hourly chart of the ADA\/USD pair. ADA price is now trading below $0.3850 and the 100-hourly simple moving average. If there is another upward move, the price might face resistance near the $0.3850 zone. The first resistance is near $0.3880. The next key resistance might be $0.40. If there is a close above the $0.40 resistance, the price could start a strong rally. In the stated case, the price could rise toward the $0.4150 region. Any more gains might call for a move toward $0.4250. More Downsides in ADA? If Cardano\u2019s price fails to climb above the $0.3850 resistance level, it could continue to move down. Immediate support on the downside is near the $0.3795 level or the 50% Fib retracement level of the upward move from the $0.3620 swing low to the $0.3967 high. The next major support is near the $0.370 level. A downside break below the $0.370 level could open the doors for a test of $0.350. The next major support is near the $0.3350 level. Technical Indicators Hourly MACD \u2013 The MACD for ADA\/USD is gaining 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 $0.3790, $0.370, and $0.350. Major Resistance Levels \u2013 $0.3880 and $0.400.<\/p>\n","protected":false},"author":67,"featured_media":626615,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[83371],"tags":[79516,14643,79508,12332],"class_list":["post-626613","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ada","tag-adabtc","tag-adausd","tag-adausdt","tag-cardano"],"acf":[],"yoast_head":"\n<title>Cardano (ADA) Faces Fresh Decline: Key Drivers Behind The Downtrend<\/title>\n<meta name=\"description\" content=\"Cardano price failed to surpass $0.40 and started another decline. 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