{"id":6578,"date":"2024-12-26T07:41:18","date_gmt":"2024-12-26T06:41:18","guid":{"rendered":"https:\/\/wsj-crypto.com\/?p=6578"},"modified":"2024-12-26T07:41:18","modified_gmt":"2024-12-26T06:41:18","slug":"cardano-ada-faces-challenging-times-is-a-further-decline-on-the-horizon","status":"publish","type":"post","link":"https:\/\/wsj-crypto.com\/index.php\/2024\/12\/26\/cardano-ada-faces-challenging-times-is-a-further-decline-on-the-horizon\/","title":{"rendered":"Cardano (ADA) Faces Challenging Times: Is a Further Decline on the Horizon?"},"content":{"rendered":"<p><\/p>\n<p><em>The price of Cardano has initiated a downward correction beneath the $1.00 threshold. ADA is stabilizing and encountering obstacles around the $0.920 and $0.950 marks.<\/em><\/p>\n<ul>\n<li>The ADA price has begun a decline below the $1.00 support zone.<\/li>\n<li>The price is currently trading under $0.950 and the 100-hour simple moving average.<\/li>\n<li>A connecting bearish trend line is developing, presenting resistance at $0.92 on the hourly chart for the ADA\/USD pair (data sourced from Kraken).<\/li>\n<li>The pair may initiate another upward movement if it surpasses the $0.950 resistance level.<\/li>\n<\/ul>\n<h2>Cardano Price Experiences New Decline<\/h2>\n<p>After struggling to breach the $1.00 resistance threshold, Cardano has entered a new decline, similar to <a href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-price-breakout-100k\/\" target=\"_blank\" rel=\"noopener \">Bitcoin<\/a> and <a href=\"https:\/\/www.newsbtc.com\/analysis\/eth\/ethereum-price-gears-up-3550\/\" target=\"_blank\" rel=\"noopener \">Ethereum<\/a>. ADA has fallen below the $0.9650 and $0.950 support thresholds.<\/p>\n<p>The most recent peak was registered at $0.9495 before the price retreated. A decline ensued below the $0.920 support zone. The price fell beneath the 50% Fibonacci retracement level from the upward movement that spanned from the $0.8628 swing low to the $0.9495 peak.<\/p>\n<p>Currently, Cardano&#8217;s price is below $0.925 and the 100-hourly simple moving average. On the upside, the price may encounter resistance near the $0.920 level. Additionally, a connecting bearish trend line is forming with resistance at $0.92 on the hourly chart of the ADA\/USD pair.<\/p>\n<p><a href=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2024\/12\/Cardano-ADA_b9f5c8.png\"><\/a><\/p>\n<p>The initial resistance is in the vicinity of $0.9350. The next significant resistance could be at $0.950. Should there be a close above the $0.950 resistance, the price may initiate a robust rally. In that scenario, the price could ascend towards the $1.00 range. Further gains may prompt a rise toward $1.050 in the short term.<\/p>\n<h2>Are Further Losses Expected for ADA?<\/h2>\n<p>If the price of Cardano cannot rise above the $0.920 resistance level, it may start another drop. The immediate support on the downside is close to the $0.8950 mark or the 61.8% Fibonacci retracement level from the upward move that ranges from the $0.8628 swing low to the $0.9495 high.<\/p>\n<p>The next primary support is around the $0.865 level. A downward breach below the $0.8650 level could pave the way for a test at $0.820. The next crucial support is near the $0.8050 level, where bullish activity might reemerge.<\/p>\n<p>Technical Indicators<\/p>\n<p>Hourly MACD \u2013 The MACD for ADA\/USD is gaining traction in the bearish territory.<\/p>\n<p>Hourly RSI (Relative Strength Index) \u2013 The RSI for ADA\/USD is presently below the 50 threshold.<\/p>\n<p>Key Support Levels \u2013 $0.8950 and $0.8650.<\/p>\n<p>Key Resistance Levels \u2013 $0.920 and $0.950.<\/p>\n<p><br \/>\n<br \/><a href=\"https:\/\/www.newsbtc.com\/analysis\/ada\/cardano-ada-struggles-0-95\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The price of Cardano has initiated a downward correction beneath the $1.00 threshold. ADA is stabilizing and encountering obstacles around the $0.920 and $0.950 marks. The ADA price has begun a decline below the $1.00 support zone. The price is currently trading under $0.950 and the 100-hour simple moving average. A connecting bearish trend line<\/p>\n","protected":false},"author":3,"featured_media":6579,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[22],"tags":[596],"class_list":["post-6578","post","type-post","status-publish","format-standard","has-post-thumbnail","category-bitcoin","tag-gptreturn-a-list-of-comma-separated-tags-from-this-title-cardano-ada-struggles-to-hold-ground-another-drop-incoming-gpt"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Cardano (ADA) Faces Challenging Times: Is a Further Decline on the Horizon? - WSJ-Crypto<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/wsj-crypto.com\/index.php\/2024\/12\/26\/cardano-ada-faces-challenging-times-is-a-further-decline-on-the-horizon\/\" \/>\n<meta property=\"og:locale\" content=\"it_IT\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Cardano (ADA) Faces Challenging Times: Is a Further Decline on the Horizon? - WSJ-Crypto\" \/>\n<meta property=\"og:description\" content=\"The price of Cardano has initiated a downward correction beneath the $1.00 threshold. 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