{"id":278830,"date":"2024-04-06T22:32:35","date_gmt":"2024-04-06T17:02:35","guid":{"rendered":"https:\/\/dripp.zone\/news\/heres-why-cardano-price-is-at-risk-of-18-fall-ahead-crypto-news\/"},"modified":"2024-04-06T22:33:49","modified_gmt":"2024-04-06T17:03:49","slug":"heres-why-cardano-price-is-at-risk-of-18-fall-ahead-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/heres-why-cardano-price-is-at-risk-of-18-fall-ahead-crypto-news\/","title":{"rendered":"Here\u2019s Why Cardano Price Is at Risk of 18% Fall Ahead &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div>\n<p><span style=\"font-weight: 400;\">ADA, the native cryptocurrency of the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/cardano-light-wallet-lace-gets-crucial-upgrade\/\">Cardano<\/a> ecosystem recently reverted from the $0.68 level amid the broader market correction. This lower high formation in the daily chart indicates the traders are selling on a bullish bounce which tumbled the ADA value 17.8% within a fortnight. Moreover, the declining price now challenges the key support of the H&#038;S pattern and long-coming support together, indicating a pivotal moment for the Cardano price.<\/span><\/p>\n<p>Also Read: <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/sponsored\/chatgpt-price-predictions-for-cardano-and-nuggetrush\/\">ChatGPT Price Predictions For Cardano and NuggetRush<\/a><\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.80 --><\/p>\n<h2><b>Whale Inactivity Signals Possible Breakdown and Losses<\/b><\/h2>\n<figure style=\"width: 1946px\" class=\"wp-caption alignnone\"><noscript><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/s3.tradingview.com\/snapshots\/l\/lfXg3Y30.png\" alt=\"BINANCE:ADAUSDT Chart \" width=\"1946\" height=\"937\"\/><\/noscript><figcaption class=\"wp-caption-text\">Cardano Price| Tradingview<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">The mid-term trend in <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/price\/cardano\/\">Cardano price<\/a> is still bullish evidenced by the ascending trendline in the daily chart. The coin price rebounded several times from this dynamic support indicating the investors actively accumulate at market dips.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">However, the ADA price entered a new correction in mid-March as the price revered from $0.8 resistance. Within a month, the asset lost 28% in value and plunged to $0.567 support. An analysis of the daily reveals this bearish pullback as the formation of a head and shoulders pattern\u2014a chart setup commonly spotted at market tops and hints at the potential of upcoming correction.<\/span><\/p>\n<blockquote>\n<p><span style=\"font-weight: 400;\">The Cardano coin is currently trading at $0.58 and is hovering just above the combined support of the ascending trendline and H&#038;S pattern neckline.\u00a0<\/span><\/p>\n<\/blockquote>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.80 --><\/p>\n<p><span style=\"font-weight: 400;\">Moreover, the Renowned trader Ali (@ali_charts) highlighted a decrease in Cardano (ADA) whale activity on Twitter, indicating a possible phase of price consolidation or a potential drop. This observation is key for traders and investors, signaling a time to watch <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/charles-hoskinson-highlights-wall-street-role-post-grayscale-ada-removal\/\">ADA<\/a> closely for the market\u2019s next move.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/Cardano?src=hash&#038;ref_src=twsrc%5Etfw\">#Cardano<\/a> is experiencing a lull in whale activity, signaling potential for further <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%24ADA&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$ADA<\/a> price consolidation or an impending drop. <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/EXPafRamLB\">pic.twitter.com\/EXPafRamLB<\/a><\/p>\n<p>\u2014 Ali (@ali_charts) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/ali_charts\/status\/1776267532862681515?ref_src=twsrc%5Etfw\">April 5, 2024<\/a><\/p>\n<\/blockquote>\n<p>Also Read: <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/markets\/4-under-10-crypto-to-buy-to-flip-50-into-5000-in-april\/\">4 Under $10 Crypto To Buy To Flip $50 Into $5000 In April<\/a><\/p>\n<h2><b>Will ADA Price Lose $0.5 Support?<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">Amid the market correction and decrease in whale activity, the Cardano price is more inclined towards a prolonged correction. Thus, a breakdown below this support will mark a major loss for buyers which may accelerate the supply pressure.<\/span><\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.80 --><\/p>\n<p><span style=\"font-weight: 400;\">The post-breakdown fall may tumble the altcoin 18% to hit $0.46, followed by $0.33.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Conversely, a reversal pattern at $0.567 would weaken the bearish thesis and set the ADA price for a renewed recovery trend.<\/span><\/p>\n<h2><b>Technical Indicator:<\/b><\/h2>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Vortex Indicator:<\/b><span style=\"font-weight: 400;\"> A negative crossover state between the VI(+) and VI(-) reflects an active correction trend.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Exponential Moving Average: <\/b><span style=\"font-weight: 400;\">A bearish crossover between the 20- and 50-day <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/education\/exponential-moving-average-how-to-leverage-it-in-crypto-market\/\">EMA<\/a> slope strengthens the selling pressure in the market.<\/span><\/li>\n<\/ul>\n<p><noscript><link rel=\"stylesheet\" id=\"quads-style-css-css\" href=\"https:\/\/coingape.com\/wp-content\/plugins\/quick-adsense-reloaded\/includes\/gutenberg\/dist\/blocks.style.build.css?ver=2.0.80\" type=\"text\/css\" media=\"all\"\/><link rel=\"stylesheet\" id=\"dscf7-math-captcha-style-css\" href=\"https:\/\/coingape.com\/wp-content\/plugins\/ds-cf7-math-captcha\/assets\/css\/style.css?ver=6.3.3\" type=\"text\/css\" media=\"1\"\/><link data-minify=\"1\" rel=\"stylesheet\" id=\"logdash-activity-log-css\" href=\"https:\/\/coingape.com\/wp-content\/cache\/min\/1\/wp-content\/plugins\/logdash-activity-log\/assets\/build\/index.css?ver=1712392151\" type=\"text\/css\" media=\"all\"\/><link data-minify=\"1\" rel=\"stylesheet\" id=\"parent-style-css\" 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\n--><\/p>\n<p>Sahil is a dedicated full-time trader with over three years of experience in the financial markets. Armed with a strong grasp of technical analysis, he keeps a vigilant eye on the daily price movements of top assets and indices. Drawn by his fascination with financial instruments, Sahil enthusiastically embraced the emerging realm of cryptocurrency, where he continues to explore opportunities driven by his passion for trading                         <\/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\/a533fdcf650a1d3d3b6a452bcef2d18a?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\/a533fdcf650a1d3d3b6a452bcef2d18a?s=200&#038;d=mm&#038;r=g\"\/><noscript><img loading=\"lazy\" alt=\"\" src=\"https:\/\/secure.gravatar.com\/avatar\/a533fdcf650a1d3d3b6a452bcef2d18a?s=200&#038;d=mm&#038;r=g\" srcset=\"https:\/\/secure.gravatar.com\/avatar\/a533fdcf650a1d3d3b6a452bcef2d18a?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=\"TabD190175\">\n<p>  The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. 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reverted from the $0.68 level amid the broader market correction. This lower high formation in the daily chart indicates the traders are selling on a bullish bounce which tumbled the ADA value 17.8% within a fortnight. Moreover, the declining price now challenges the key support of [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":278831,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[188,183,185,186,187,184,189,150,182,190],"class_list":["post-278830","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology","tag-blockchain-tech","tag-blockchain-technology","tag-crypto-technology","tag-cryptocurrency-technology","tag-metaverse-technology","tag-nft-technology","tag-soul-bound-token","tag-tech","tag-technology","tag-token-technology"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/278830","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=278830"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/278830\/revisions"}],"predecessor-version":[{"id":278833,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/278830\/revisions\/278833"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/278831"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=278830"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=278830"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=278830"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}