{"id":119407,"date":"2023-07-07T19:06:46","date_gmt":"2023-07-07T19:06:46","guid":{"rendered":"https:\/\/dripp.zone\/news\/will-ada-price-lose-0-26-support-amid-market-sell-off-crypto-news\/"},"modified":"2023-07-07T19:06:50","modified_gmt":"2023-07-07T19:06:50","slug":"will-ada-price-lose-0-26-support-amid-market-sell-off-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/will-ada-price-lose-0-26-support-amid-market-sell-off-crypto-news\/","title":{"rendered":"Will ADA Price Lose $0.26 Support Amid Market Sell-off?\n &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div id=\"post-153651\">\n<p><!--\n     \n\n<div class=\"marketThumbs\">\n             <noscript><img loading=\"lazy\" width=\"1200\" height=\"681\" src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2023\/07\/08003233\/2nyAR8H5-e1688756569462.png\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"Cardano Price Analysis\" decoding=\"async\" srcset=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2023\/07\/08003233\/2nyAR8H5-e1688756569462.png 1200w, https:\/\/cdn.coingape.com\/wp-content\/uploads\/2023\/07\/08003233\/2nyAR8H5-e1688756569462-300x170.png 300w, https:\/\/cdn.coingape.com\/wp-content\/uploads\/2023\/07\/08003233\/2nyAR8H5-e1688756569462-768x436.png 768w, https:\/\/cdn.coingape.com\/wp-content\/uploads\/2023\/07\/08003233\/2nyAR8H5-e1688756569462-150x85.png 150w\" sizes=\"auto, (max-width: 1200px) 100vw, 1200px\" \/><\/noscript><\/div>\n\n\n--><\/p>\n<p class=\"MarketsUp f-14 d-block\">Published 6 hours ago  <\/p>\n<div class=\"Atcs\">\n<p><span style=\"font-weight: 400;\">In the daily time frame chart, the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/price\/cardano\/\">cardano price<\/a> shows the formation of a double top pattern, a technical setup often seen before significant downward movement.  With the peaks formed at the $0.30 mark, a breakout above this resistance could potentially ignite a strong bullish rally.  However, the top formation in the chart reveals a potentially bearish phase ready to unfold.<\/span><\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.72.1 --><\/p>\n<p>Also Read: <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/cardano-ada-locked-in-defi-protocols-hits-ath\/\">Cardano (ADA) Locked in DeFi Protocols Hits ATH<\/a><\/p>\n<h2><strong>Cardano Price Daily Chart<\/strong><\/h2>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">A breakdown below $0.26 could trigger a downfall in the ADA price.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The uptick in the lower Bollinger band along with daily gains reflects underlying bullish support.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The intraday trading volume in the ADA coin is $189.6 Million, indicating a 6.5% loss.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"data:image\/svg+xml,%3Csvg%20xmlns=\" http:=\"\" alt=\"Cardano Price Analysis\" width=\"1946\" height=\"1104\" data-lazy-src=\"https:\/\/s3.tradingview.com\/snapshots\/2\/2nyAR8H5.png\"\/><noscript><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"https:\/\/s3.tradingview.com\/snapshots\/2\/2nyAR8H5.png\" alt=\"Cardano Price Analysis\" width=\"1946\" height=\"1104\"\/><\/noscript>Source- <\/span><span style=\"font-weight: 400;\">tradingview<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The Cardano price finds a gain of 1.79% after the three consecutive bearish candles that have shown a significant rejection of higher prices.  Furthermore, the chart suggests the formation of a <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/glossary\/double-top-pattern\/\">double top pattern<\/a> at $0.30 with a neckline at $0.26.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">A short support trend line is also in action, a diagonal line drawn on the price chart connecting a sequence of low points.  Interestingly, a long-standing resistance line is evident, persisting since the price failed to surpass $0.45.  This creates a symmetrical triangle pattern in the daily chart. <\/span><\/p>\n<blockquote>\n<p><span style=\"font-weight: 400;\">If the price falls below this level, it could potentially reach $0.239.  This level is critical to monitor, as a break below the neckline would confirm the double top pattern, indicating a bearish reversal.<\/span><\/p>\n<\/blockquote>\n<p><span style=\"font-weight: 400;\">Conversely, the formation of a bullish candle on the daily chart suggests a high likelihood of a sideways movement until the price reaches the resistance trend line. <\/span><\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.72.1 --><\/p>\n<h2><strong>Will ADA Price Sustain Above $0.26?<\/strong><\/h2>\n<p><span style=\"font-weight: 400;\">The formation of a double top in the Cardano coin reflects a bearish comeback as the profit booking after the short recovery accelerates the selling spree.  This may eventually lead to a $0.26 breakdown.  However, the 1.79% gain in the last 24 hours and the support trendline forming the triangle in the daily chart project a potential sideways trend in Cardano price until it reaches the resistance trendline.<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Bollinger Bands: <\/b><span style=\"font-weight: 400;\">A remarkable uptick in the lower band of the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/education\/bollinger-band\/\">Bollinger Bands<\/a> suggests a strong underlying bullish pressure, ready to absorb the double top breakout. <\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Relative Strength Index: <\/b><span style=\"font-weight: 400;\">With the anticipated reversal, the daily <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/glossary\/rsi-relative-strength-index\/\">rsi slope<\/a> remains stagnant close to the halfway line, after an ascent from the oversold zone. <\/span><\/li>\n<\/ul><\/div>\n<div class=\"TabDicA\">\n<div class=\"TBAcon \">\n<div class=\"authorFlip tabcS\" id=\"TabA153651\">\n<div class=\"authorBox\">\n<div class=\"author_Name\">\n<!--\n                                      \n\n<div class=\"getAuthoname\">\n                                          \n                                                                                 \n                                       <\/div>\n\n \n--><\/p>\n<p>From the past 5 years I am working in Journalism.  I follow the Blockchain &#038; Cryptocurrency from last 3 years.  I have written on a variety of different topics including fashion, beauty, entertainment, and finance.  Reach out to me at brian(at)coingape.com                         <\/p>\n<\/p><\/div>\n<div class=\"author_Image\">\n                                             <img loading=\"lazy\" alt=\"\" src=\"data:image\/svg+xml,%3Csvg%20xmlns=\" http:=\"\" data-lazy-srcset=\"https:\/\/secure.gravatar.com\/avatar\/97819e56237550ccb85011dd23b241ea?s=400&#038;d=mm&#038;r=g 2x\" class=\"avatar avatar-200 photo\" height=\"200\" width=\"200\" decoding=\"async\" data-lazy-src=\"https:\/\/secure.gravatar.com\/avatar\/97819e56237550ccb85011dd23b241ea?s=200&#038;d=mm&#038;r=g\"\/><noscript><img loading=\"lazy\" alt=\"\" src=\"https:\/\/secure.gravatar.com\/avatar\/97819e56237550ccb85011dd23b241ea?s=200&#038;d=mm&#038;r=g\" srcset=\"https:\/\/secure.gravatar.com\/avatar\/97819e56237550ccb85011dd23b241ea?s=400&#038;d=mm&#038;r=g 2x\" class=\"avatar avatar-200 photo\" height=\"200\" width=\"200\" decoding=\"async\"\/><\/noscript>                                       <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"TabDesCm tabcS\" id=\"TabD153651\">\n<p>    The content presented may include the personal opinion of the author and is subject to market condition.  Do your market research before investing in cryptocurrencies.  The author or the publication does not hold any responsibility for your personal financial loss.<\/p>\n<\/div><\/div>\n<\/p><\/div>\n<p>     <!--           <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/category\/price-analysis\/\" class=\"closeArticle2 close-btn\">Close Story<\/a>--><\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Published 6 hours ago In the daily time frame chart, the cardano price shows the formation of a double top pattern, a technical setup often seen before significant downward movement. With the peaks formed at the $0.30 mark, a breakout above this resistance could potentially ignite a strong bullish rally. However, the top formation in [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":119408,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[192,29,198,194,195,199,196,193,197,200],"class_list":["post-119407","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-blockchain-business","tag-business","tag-coins","tag-crypto-business","tag-cryptocurrency-business","tag-fiat","tag-metaverse-business","tag-nft-business","tag-token","tag-token-business"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/119407","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=119407"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/119407\/revisions"}],"predecessor-version":[{"id":119409,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/119407\/revisions\/119409"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/119408"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=119407"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=119407"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=119407"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}