{"id":172710,"date":"2023-10-12T11:09:15","date_gmt":"2023-10-12T05:39:15","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=172710"},"modified":"2023-10-12T11:09:15","modified_gmt":"2023-10-12T05:39:15","slug":"ada-price-hints-at-potential-correction-buy-the-dip-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/ada-price-hints-at-potential-correction-buy-the-dip-crypto-news\/","title":{"rendered":"ADA Price Hints At Potential Correction, Buy The Dip? &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div>\n<p><em>Cardano\u2019s price started a fresh decline below $0.250. ADA is testing important support at $0.2450 and might start a recovery wave.<\/em><\/p>\n<ul>\n<li>ADA price started a fresh decline below the $0.255 and $0.250 levels against the US dollar.<\/li>\n<li>The price is trading below $0.250 and the 100 simple moving average (4 hours).<\/li>\n<li>There is a key declining channel forming with resistance near $0.2480 on the 4-hour chart of the ADA\/USD pair (data source from Kraken).<\/li>\n<li>The pair must stay above the $0.2420 support to start a fresh increase in the near term.<\/li>\n<\/ul>\n<h2>Cardano\u2019s ADA Price Revisits Support<\/h2>\n<p>After a steady increase, Cardano failed to clear the $0.2650 resistance zone. The price formed a short-term top at $0.2668 and recently started a fresh decline, like <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-bears-turns-the-tide-26500\/\">Bitcoin<\/a> and <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.newsbtc.com\/analysis\/eth\/ethereum-bulls-test-1550\/\">Ethereum<\/a>.<\/p>\n<p>There was a drop below the $0.255 support level. Besides, there was a break below a key bullish trend line with support near $0.259 on the 4-hour chart of the ADA\/USD pair. The pair even declined below the $0.250 support and the 100 simple moving average (4 hours).<\/p>\n<p>A low is formed near $0.2450 and the price is now consolidating losses. Cardano is now trading below $0.250 and the 100 simple moving average (4 hours). On the upside, immediate resistance is near the $0.248 zone.<\/p>\n<p>There is also a key declining channel forming with resistance near $0.2480 on the 4-hour chart of the ADA\/USD pair. The first resistance is near $0.250 or the 23.6% Fib retracement level of the downward move from the $0.2668 swing high to the $0.2450 low.<\/p>\n<p><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/10\/Cardano-ADA-1.png?resize=1024%2C468\"><\/a><\/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 $0.2560 and the 50% Fib retracement level of the downward move from the $0.2668 swing high to the $0.2450 low. If there is a close above the $0.256 resistance, the price could start a decent increase. In the stated case, the price could rise toward the $0.285 resistance zone.<\/p>\n<h2>More Losses in ADA?<\/h2>\n<p>If Cardano\u2019s price fails to climb above the $0.250 resistance level, it could continue to move down. Immediate support on the downside is near the $0.245 level.<\/p>\n<p>The next major support is near the $0.242 level. A downside break below the $0.242 level could open the doors for a sharp fresh decline toward $0.220. The next major support is near the $0.200 level.<\/p>\n<p>Technical Indicators<\/p>\n<p>4 hours MACD \u2013 The MACD for ADA\/USD is losing 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 $0.245, $0.242, and $0.220.<\/p>\n<p>Major Resistance Levels \u2013 $0.250, $0.255, and $0.285.<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Cardano\u2019s price started a fresh decline below $0.250. ADA is testing important support at $0.2450 and might start a recovery wave. ADA price started a fresh decline below the $0.255 and $0.250 levels against the US dollar. The price is trading below $0.250 and the 100 simple moving average (4 hours). There is a key [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":172711,"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-172710","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\/172710","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=172710"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/172710\/revisions"}],"predecessor-version":[{"id":172712,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/172710\/revisions\/172712"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/172711"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=172710"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=172710"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=172710"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}