{"id":2000,"date":"2024-05-22T02:58:00","date_gmt":"2024-05-22T02:58:00","guid":{"rendered":"https:\/\/cryptd.in\/ada-price-underperforms-can-cardano-catch-up-with-other-altcoins\/"},"modified":"2024-05-22T02:58:00","modified_gmt":"2024-05-22T02:58:00","slug":"ada-price-underperforms-can-cardano-catch-up-with-other-altcoins","status":"publish","type":"post","link":"https:\/\/cryptd.in\/sl\/ada-price-underperforms-can-cardano-catch-up-with-other-altcoins\/","title":{"rendered":"ADA Price Underperforms: Can Cardano Catch Up with Other Altcoins?"},"content":{"rendered":"

Cardano (ADA) is struggling to start a fresh increase above the $0.500 resistance zone. ADA must stay above the $0.480 support to start a decent upward move.<\/em><\/p>\n

ADA price is struggling to gain bullish momentum above the $0.50 zone.
\nThe price is trading above $0.480 and the 100-hourly simple moving average.
\nThere is a key bullish trend line forming with support near $0.480 on the hourly chart of the ADA\/USD pair (data source from Kraken).
\nThe pair could gain bullish momentum if there is a close above $0.500.<\/p>\n

Cardano Price Remains Supported<\/h2>\n

In the past few days, Cardano started a recovery wave from the $0.4620 zone, but lagged behind Bitcoin<\/a> and Ethereum<\/a>. ADA price broke the $0.4750 and $0.480 levels to move into a short-term bullish zone.<\/p>\n

The price even spiked above $0.50 but it failed to continue higher. A high was formed at $0.510 and recently there was a downside correction. The price declined below the $0.4980 support. It dipped below the 23.6% Fib retracement level of the upward move from the $0.4614 swing low to the $0.510 low.<\/p>\n

Cardano is now trading above $0.480 and the 100-hourly simple moving average. There is also a key bullish trend line forming with support near $0.480 on the hourly chart of the ADA\/USD pair. The trend line is close to the 61.8% Fib retracement level of the upward move from the $0.4614 swing low to the $0.510 low.<\/p>\n

<\/a><\/p>\n

On the upside, immediate resistance is near the $0.4980 zone. The first resistance is near $0.510. The next key resistance might be $0.5250. If there is a close above the $0.5250 resistance, the price could start a strong rally. In the stated case, the price could rise toward the $0.5450 region. Any more gains might call for a move toward $0.5650.<\/p>\n

Another Decline in ADA?<\/h2>\n

If Cardano\u2019s price fails to climb above the $0.4980 resistance level, it could start another decline. Immediate support on the downside is near the $0.450 level.<\/p>\n

The next major support is near the $0.480 level. A downside break below the $0.480 level could open the doors for a test of $0.4620. The next major support is near the $0.450 level.<\/p>\n

Technical Indicators<\/p>\n

Hourly MACD \u2013 The MACD for ADA\/USD is gaining momentum in the bearish zone.<\/p>\n

Hourly RSI (Relative Strength Index) \u2013 The RSI for ADA\/USD is now below the 50 level.<\/p>\n

Major Support Levels \u2013 $0.4850, $0.4800, and $0.4620.<\/p>\n

Major Resistance Levels \u2013 $0.4980, $0.5100, and $0.5250.<\/p>","protected":false},"excerpt":{"rendered":"

Cardano (ADA) is struggling to start a fresh increase above the $0.500 resistance zone. ADA must stay above the $0.480 support to start a decent upward move. ADA price is struggling to gain bullish momentum above the $0.50 zone. The price is trading above $0.480 and the 100-hourly simple moving average. There is a key […]<\/p>\n","protected":false},"author":0,"featured_media":2001,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-2000","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-feeds"],"yoast_head":"\nADA Price Underperforms: Can Cardano Catch Up with Other Altcoins? - cryptd.in<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptd.in\/sl\/ada-price-underperforms-can-cardano-catch-up-with-other-altcoins\/\" \/>\n<meta property=\"og:locale\" content=\"sl_SI\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"ADA Price Underperforms: Can Cardano Catch Up with Other Altcoins? - cryptd.in\" \/>\n<meta property=\"og:description\" content=\"Cardano (ADA) is struggling to start a fresh increase above the $0.500 resistance zone. 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