{"id":1207,"date":"2024-11-12T06:00:21","date_gmt":"2024-11-12T06:00:21","guid":{"rendered":"https:\/\/ad-doge.com\/blog\/cardano-ada-rally-on-hold-will-it-break-out-again-soon\/"},"modified":"2024-11-12T06:00:21","modified_gmt":"2024-11-12T06:00:21","slug":"cardano-ada-rally-on-hold-will-it-break-out-again-soon","status":"publish","type":"post","link":"https:\/\/ad-doge.com\/blog\/cardano-ada-rally-on-hold-will-it-break-out-again-soon\/","title":{"rendered":"Cardano (ADA) Rally on Hold: Will It Break Out Again Soon?"},"content":{"rendered":"<p><em>Cardano price started a consolidation phase below the $0.6650 zone. ADA is holding gains and might aim for a fresh increase above $0.6500.<\/em><\/p>\n<ul>\n<li>ADA price started a downside correction after a strong rally toward $0.6600.<\/li>\n<li>The price is trading above $0.580 and the 100-hourly simple moving average.<\/li>\n<li>There is a key contracting triangle forming with support at $0.5780 on the hourly chart of the ADA\/USD pair (data source from Kraken).<\/li>\n<li>The pair could start another increase if it clears the $0.6060 resistance zone.<\/li>\n<\/ul>\n<h2>Cardano Price Consolidates Gains<\/h2>\n<p>In the past few days, Cardano saw a major increase above the $0.40 resistance. ADA outpaced Bitcoin and Ethereum. There was a move above the $0.450 and $0.50 resistance levels.<\/p>\n<p>It even cleared the $0.600 level. A high was formed at $0.6620 and the price is now consolidating gains. There was a minor decline below the $0.6120 level. The price dipped below the 23.6% Fib retracement level of the upward move from the $0.4277 swing low to the $0.6620 high.<\/p>\n<p>However, the bulls are active above $0.5500 and the 50% Fib retracement level of the upward move from the $0.4277 swing low to the $0.6620 high. Cardano price is now trading above $0.580 and the 100-hourly simple moving average.<\/p>\n<p>There is also a key contracting triangle forming with support at $0.5780 on the hourly chart of the ADA\/USD pair. On the upside, the price might face resistance near the $0.6060 zone. The first resistance is near $0.6230. The next key resistance might be $0.6450.<\/p>\n<p><img decoding=\"async\" data-recalc-dims=\"1\" class=\"wp-image-652674 size-full\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2024\/11\/Cardano-ADA.png?resize=1024%2C478\" alt=\"Cardano Price\" width=\"1024\" height=\"478\" loading=\"lazy\" \/><\/p>\n<p>If there is a close above the $0.6450 resistance, the price could start a strong rally. In the stated case, the price could rise toward the $0.6800 region. Any more gains might call for a move toward $0.700.<\/p>\n<h2>More Losses in ADA?<\/h2>\n<p>If Cardano\u2019s price fails to climb above the $0.6060 resistance level, it could start another decline. Immediate support on the downside is near the $0.5780 level.<\/p>\n<p>The next major support is near the $0.550 level. A downside break below the $0.550 level could open the doors for a test of $0.5180. The next major support is near the $0.500 level where the bulls might emerge.<\/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 $0.5780 and $0.5500.<\/p>\n<p>Major Resistance Levels \u2013 $0.6060 and $0.6450.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Cardano price started a consolidation phase below the $0.6650 zone. ADA is holding gains and might aim for a fresh increase above $0.6500. ADA price started a downside correction after a strong rally toward $0.6600. The price is trading above $0.580 and the 100-hourly simple moving average. There is a key contracting triangle forming with&hellip;<\/p>\n","protected":false},"author":1,"featured_media":1208,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[323],"tags":[183,324,184,317,185],"class_list":["post-1207","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ada","tag-ada","tag-adabtc","tag-adausd","tag-adausdt","tag-cardano"],"_links":{"self":[{"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/posts\/1207","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/comments?post=1207"}],"version-history":[{"count":0,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/posts\/1207\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/media\/1208"}],"wp:attachment":[{"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/media?parent=1207"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/categories?post=1207"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/tags?post=1207"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}