{"id":137667,"date":"2023-09-02T05:19:01","date_gmt":"2023-09-01T23:49:01","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=137667"},"modified":"2023-09-02T05:19:01","modified_gmt":"2023-09-01T23:49:01","slug":"ada-price-plunges-5-can-buyers-save-the-key-0-275-support-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/ada-price-plunges-5-can-buyers-save-the-key-0-275-support-crypto-news\/","title":{"rendered":"ADA Price Plunges 5%, Can Buyers Save The Key $0.275 Support? &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div>\n<p><em>Cardano\u2019s price started a fresh decline from well above $0.30. ADA is testing $0.275 and remains at risk of more downsides in the near term.<\/em><\/p>\n<ul>\n<li>ADA price is gaining bearish momentum below the $0.30 level against the US dollar.<\/li>\n<li>The price is trading above $0.288 and the 100 simple moving average (4 hours).<\/li>\n<li>There is a major bearish trend line forming with resistance near $0.288 on the 4-hour chart of the ADA\/USD pair (data source from Kraken).<\/li>\n<li>The pair could start a recovery wave if there is a close above the $0.30 resistance.<\/li>\n<\/ul>\n<h2>Cardano\u2019s ADA Price Extends Losses<\/h2>\n<p>In the past few days, Cardano\u2019s price saw a fresh decline from well above $0.308. The price traded below the $0.300 and $0.288 support levels to move into a bearish zone, similar to <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-price-losses-29000\/\">Bitcoin<\/a> and <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.newsbtc.com\/analysis\/eth\/ethereum-price-bearish-1800\/\">Ethereum<\/a>.<\/p>\n<p>The price even declined below $0.280 and tested the $0.275 support. A low is formed near $0.2752 and the price is now consolidating losses. It is now trading near the 23.6% Fib retracement level of the downward move from the $0.3018 swing high to the $0.2752 low.<\/p>\n<p>ADA price is now trading below $0.288 and the 100 simple moving average (4 hours). There is also a major bearish trend line forming with resistance near $0.288 on the 4-hour chart of the ADA\/USD pair.<\/p>\n<p>On the upside, immediate resistance is near the $0.285 zone. The first major resistance is forming near the $0.288 zone and the trend line. It is close to the 50% Fib retracement level of the downward move from the $0.3018 swing high to the $0.2752 low.<\/p>\n<\/p>\n<p>Source: <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/symbols\/ADAUSD\/\">ADAUSD on TradingView.com<\/a><\/p>\n<p>The next key resistance might be $0.300. If there is a close above the $0.300 resistance, the price could start a decent increase. In the stated case, the price could rise toward the $0.320 resistance zone.<\/p>\n<h2>More Losses in ADA?<\/h2>\n<p>If Cardano\u2019s price fails to climb above the $0.288 resistance level, it could start another decline. Immediate support on the downside is near the $0.275 level.<\/p>\n<p>The next major support is near the $0.262 level. A downside break below the $0.262 level could open the doors for a sharp fresh decline toward $0.235. The next major support is near the $0.220 level.<\/p>\n<p>Technical Indicators<\/p>\n<p>4 hours MACD \u2013 The MACD for ADA\/USD is gaining momentum in the bearish zone.<\/p>\n<p>4 hours RSI (Relative Strength Index) \u2013 The RSI for ADA\/USD is now below the 50 level.<\/p>\n<p>Major Support Levels \u2013 $0.275, $0.262, and $0.235.<\/p>\n<p>Major Resistance Levels \u2013 $0.285, $0.288, and $0.300.<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Cardano\u2019s price started a fresh decline from well above $0.30. ADA is testing $0.275 and remains at risk of more downsides in the near term. ADA price is gaining bearish momentum below the $0.30 level against the US dollar. The price is trading above $0.288 and the 100 simple moving average (4 hours). There is [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":34735,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[235,203,210,234,231,232,237,238,236,233],"class_list":["post-137667","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain","tag-bitcoin","tag-crypto-currency","tag-elon-musk","tag-ethereum","tag-hyperledger","tag-ibm","tag-mining","tag-nodes","tag-spacex","tag-tesla"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/137667","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=137667"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/137667\/revisions"}],"predecessor-version":[{"id":137668,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/137667\/revisions\/137668"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/34735"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=137667"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=137667"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=137667"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}