{"id":120512,"date":"2023-07-10T21:09:58","date_gmt":"2023-07-10T21:09:58","guid":{"rendered":"https:\/\/dripp.zone\/news\/accumulation-on-key-support-sets-ada-price-on-22-upswing-crypto-news\/"},"modified":"2023-07-10T21:10:01","modified_gmt":"2023-07-10T21:10:01","slug":"accumulation-on-key-support-sets-ada-price-on-22-upswing-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/accumulation-on-key-support-sets-ada-price-on-22-upswing-crypto-news\/","title":{"rendered":"Accumulation on Key Support Sets $ADA Price on 22% Upswing\n &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div id=\"post-153886\">\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\/11021404\/QrVceJDV-e1689021861466.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\/11021404\/QrVceJDV-e1689021861466.png 1200w, https:\/\/cdn.coingape.com\/wp-content\/uploads\/2023\/07\/11021404\/QrVceJDV-e1689021861466-300x170.png 300w, https:\/\/cdn.coingape.com\/wp-content\/uploads\/2023\/07\/11021404\/QrVceJDV-e1689021861466-768x436.png 768w, https:\/\/cdn.coingape.com\/wp-content\/uploads\/2023\/07\/11021404\/QrVceJDV-e1689021861466-150x85.png 150w\" sizes=\"auto, (max-width: 1200px) 100vw, 1200px\" \/><\/noscript><\/div>\n\n\n--><\/p>\n<p class=\"MarketsUp f-14 d-block\">Published 21 minutes ago  <\/p>\n<div class=\"Atcs\">\n<p><span style=\"font-weight: 400;\">Amid the April-May downfall in the crypto market, the seventh largest cryptocurrency-Cardano returned to the 2022 bottom support of $0.24.  The <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/price\/cardano\/\">ADA price<\/a> has been hovering above this support for nearly a month, trying to gather buyers while accumulating at discounted prices.  The lower price rejection observed at this support indicates the presence of demand and the possibility of a bullish reversal.<\/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\/markets\/cardano-price-could-surge-17-5-on-this-breakout-buy-today\/\">Cardano Price Could Surge 17.5% on this Breakout;  Buy Today?<\/a><\/p>\n<h2><b>Cardano Price Daily Chart<\/b><\/h2>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The ADA price obtained high buying pressure from the $0.24 support.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">A breakout above the overhead trendline will signal a fresh recovery rally.<\/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 $246.6 Million, indicating a 33% gain.<\/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\/q\/QrVceJDV.png\"\/><noscript><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"https:\/\/s3.tradingview.com\/snapshots\/q\/QrVceJDV.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;\">As the Cardano price shows the possibility of a bullish reversal from the $0.24 second time in the past six months, this level stands in a strong accumulation zone.  In the weekly chart, these two reversals indicate the formation of a famous bullish reversal pattern called the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/glossary\/double-bottom-pattern\/\">double bottom<\/a>,<\/span><\/p>\n<blockquote>\n<p><span style=\"font-weight: 400;\">As of now, the ADA price trades at $0.29 and continues to wave sideways as the market sentiment stalls from its recovery track.  However, if the demand pressure from the bottom persists, the buyers will attempt an upturn and challenge the downsloping trendline carrying the short-term correction in this altcoin.<\/span><\/p>\n<\/blockquote>\n<p><span style=\"font-weight: 400;\">A breakout above this trendline will be the first signal for trend reversal and further development of a bullish pattern. <\/span><\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.72.1 --><\/p>\n<h2><b>Can ADA Price Rise to $0.46?<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">A potential breakout from the resistance trendline will intensify the bullish momentum in the ADA price.  The post-breakout rally will bolster the buyers for a 22% rise and hit the next significant resistance of $0.35.  However, under the influence of a double bottom pattern, the coin price is likely to challenge the $0.46 neckline, to obtain a better signal for trend change.<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Stochastic: <\/b><span style=\"font-weight: 400;\">Concerning the two swing lows at $0.24, the Stochastic slopes showed a significant rise indicating the underlying buying pressure is rising.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Bollinger Bands: <\/b><span style=\"font-weight: 400;\">A downtick in the lower band of the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/education\/bollinger-band\/\">Bollinger Band indicator<\/a> suggests the seller hasn&#8217;t thrown in the towel yet.<\/span><\/li>\n<\/ul><\/div>\n<div class=\"TabDicA\">\n<div class=\"TBAcon \">\n<div class=\"authorFlip tabcS\" id=\"TabA153886\">\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=\"TabD153886\">\n<p>    The content presented may include the personal opinion of the author and is subject to market conditions.  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 21 minutes ago Amid the April-May downfall in the crypto market, the seventh largest cryptocurrency-Cardano returned to the 2022 bottom support of $0.24. The ADA price has been hovering above this support for nearly a month, trying to gather buyers while accumulating at discounted prices. The lower price rejection observed at this support indicates [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":120513,"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-120512","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\/120512","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=120512"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/120512\/revisions"}],"predecessor-version":[{"id":120514,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/120512\/revisions\/120514"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/120513"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=120512"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=120512"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=120512"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}