{"id":649,"date":"2024-10-18T06:00:20","date_gmt":"2024-10-18T06:00:20","guid":{"rendered":"https:\/\/ad-doge.com\/blog\/cardano-ada-eyes-a-potential-recovery-can-it-bounce-back\/"},"modified":"2024-10-18T06:00:20","modified_gmt":"2024-10-18T06:00:20","slug":"cardano-ada-eyes-a-potential-recovery-can-it-bounce-back","status":"publish","type":"post","link":"https:\/\/ad-doge.com\/blog\/cardano-ada-eyes-a-potential-recovery-can-it-bounce-back\/","title":{"rendered":"Cardano (ADA) Eyes a Potential Recovery: Can It Bounce Back?"},"content":{"rendered":"<p><em>Cardano price started a fresh decline below the $0.3565 zone. ADA is consolidating above $0.3420 and might attempt a recovery wave.<\/em><\/p>\n<ul>\n<li>ADA price started a downward move below the $0.3520 support level.<\/li>\n<li>The price is trading below $0.3500 and the 100-hourly simple moving average.<\/li>\n<li>There was a break above a key bearish trend line with resistance at $0.3460 on the hourly chart of the ADA\/USD pair (data source from Kraken).<\/li>\n<li>The pair could attempt a recovery wave if it clears the $0.3520 resistance zone.<\/li>\n<\/ul>\n<h2>Cardano Price Consolidates Losses<\/h2>\n<p>After testing the $0.3700 resistance, Cardano struggled to continue higher. ADA formed a short-term top and started a fresh decline, unlike Bitcoin and Ethereum. There was a move below the $0.3550 and $0.3500 support levels.<\/p>\n<p>The price even declined below $0.3450 before the bulls appeared. A low was formed at $0.3394 and the price is now consolidating losses. There was a minor move above the $0.3420 level. The price cleared the 23.6% Fib retracement level of the downward move from the $0.3705 swing high to the $0.3394 low.<\/p>\n<p>Besides, there was a break above a key bearish trend line with resistance at $0.3460 on the hourly chart of the ADA\/USD pair. Cardano price is now trading below $0.350 and the 100-hourly simple moving average.<\/p>\n<p>On the upside, the price might face resistance near the $0.3515 zone. The first resistance is near $0.3550 or the 50% Fib retracement level of the downward move from the $0.3705 swing high to the $0.3394 low. The next key resistance might be $0.3620.<\/p>\n<p><img decoding=\"async\" data-recalc-dims=\"1\" class=\"wp-image-648612 size-full\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2024\/10\/Cardano-ADA_7f9244.png?resize=1024%2C478\" alt=\"Cardano Price\" width=\"1024\" height=\"478\" loading=\"lazy\" \/><\/p>\n<p>If there is a close above the $0.3620 resistance, the price could start a strong rally. In the stated case, the price could rise toward the $0.3700 region. Any more gains might call for a move toward $0.3880.<\/p>\n<h2>More Downsides in ADA?<\/h2>\n<p>If Cardano\u2019s price fails to climb above the $0.350 resistance level, it could start another decline. Immediate support on the downside is near the $0.3420 level.<\/p>\n<p>The next major support is near the $0.3400 level. A downside break below the $0.3400 level could open the doors for a test of $0.3220. The next major support is near the $0.3100 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 $0.3400 and $0.3220.<\/p>\n<p>Major Resistance Levels \u2013 $0.3500 and $0.3550.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Cardano price started a fresh decline below the $0.3565 zone. ADA is consolidating above $0.3420 and might attempt a recovery wave. ADA price started a downward move below the $0.3520 support level. The price is trading below $0.3500 and the 100-hourly simple moving average. There was a break above a key bearish trend line with&hellip;<\/p>\n","protected":false},"author":1,"featured_media":650,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[323],"tags":[183,324,184,317,185],"class_list":["post-649","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\/649","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=649"}],"version-history":[{"count":0,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/posts\/649\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/media\/650"}],"wp:attachment":[{"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/media?parent=649"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/categories?post=649"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/tags?post=649"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}