{"id":2022,"date":"2024-12-26T06:00:44","date_gmt":"2024-12-26T06:00:44","guid":{"rendered":"https:\/\/ad-doge.com\/blog\/cardano-ada-struggles-to-hold-ground-another-drop-incoming\/"},"modified":"2024-12-26T06:00:44","modified_gmt":"2024-12-26T06:00:44","slug":"cardano-ada-struggles-to-hold-ground-another-drop-incoming","status":"publish","type":"post","link":"https:\/\/ad-doge.com\/blog\/cardano-ada-struggles-to-hold-ground-another-drop-incoming\/","title":{"rendered":"Cardano (ADA) Struggles to Hold Ground: Another Drop Incoming?"},"content":{"rendered":"<p><em>Cardano price started a downside correction below the $1.00 zone. ADA is consolidating and facing hurdles near the $0.920 and $0.950 levels.<\/em><\/p>\n<ul>\n<li>ADA price started a downward move below the $1.00 support zone.<\/li>\n<li>The price is trading below $0.950 and the 100-hourly simple moving average.<\/li>\n<li>There is a connecting bearish trend line forming with resistance at $0.92 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 $0.950 resistance zone.<\/li>\n<\/ul>\n<h2>Cardano Price Starts Fresh Decline<\/h2>\n<p>After struggling to clear the $1.00 resistance zone, Cardano started a fresh decline, like Bitcoin and Ethereum. ADA declined below the $0.9650 and $0.950 support levels.<\/p>\n<p>The recent high was formed at $0.9495 before the price dipped. There was a move below the $0.920 support level. The price declined below the 50% Fib retracement level of the upward move from the $0.8628 swing low to the $0.9495 high.<\/p>\n<p>Cardano price is now trading below $0.925 and the 100-hourly simple moving average. On the upside, the price might face resistance near the $0.920 zone. There is also a connecting bearish trend line forming with resistance at $0.92 on the hourly chart of the ADA\/USD pair.<\/p>\n<p><img decoding=\"async\" data-recalc-dims=\"1\" class=\"size-full wp-image-667127\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2024\/12\/Cardano-ADA_b9f5c8.png?resize=1024%2C478\" alt=\"Cardano Price \" width=\"1024\" height=\"478\" loading=\"lazy\" \/><\/p>\n<p>The first resistance is near $0.9350. The next key resistance might be $0.950. If there is a close above the $0.950 resistance, the price could start a strong rally. In the stated case, the price could rise toward the $1.00 region. Any more gains might call for a move toward $1.050 in the near term.<\/p>\n<h2>More Losses in ADA?<\/h2>\n<p>If Cardano\u2019s price fails to climb above the $0.920 resistance level, it could start another decline. Immediate support on the downside is near the $0.8950 level or the 61.8% Fib retracement level of the upward move from the $0.8628 swing low to the $0.9495 high.<\/p>\n<p>The next major support is near the $0.865 level. A downside break below the $0.8650 level could open the doors for a test of $0.820. The next major support is near the $0.8050 level where the bulls might emerge.<\/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 $0.8950 and $0.8650.<\/p>\n<p>Major Resistance Levels \u2013 $0.920 and $0.950.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Cardano price started a downside correction below the $1.00 zone. ADA is consolidating and facing hurdles near the $0.920 and $0.950 levels. ADA price started a downward move below the $1.00 support zone. The price is trading below $0.950 and the 100-hourly simple moving average. There is a connecting bearish trend line forming with resistance&hellip;<\/p>\n","protected":false},"author":1,"featured_media":2023,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[323],"tags":[183,324,184,317,185],"class_list":["post-2022","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\/2022","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=2022"}],"version-history":[{"count":0,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/posts\/2022\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/media\/2023"}],"wp:attachment":[{"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/media?parent=2022"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/categories?post=2022"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/tags?post=2022"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}