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Home Market & Analysis

Cardano (ADA) Faces Renewed Selling Pressure—More Pain Ahead?

n70products by n70products
February 24, 2025
in Market & Analysis
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Cardano (ADA) Faces Renewed Selling Pressure—More Pain Ahead?
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Cardano worth began a contemporary decline from the $0.820 zone. ADA is now consolidating losses and prone to extra losses beneath the $0.7350 stage.

  • ADA worth began a contemporary decline beneath the $0.80 and $0.7650 ranges.
  • The value is buying and selling beneath $0.7750 and the 100-hourly easy shifting common.
  • There’s a connecting bearish development line forming with resistance at $0.7620 on the hourly chart of the ADA/USD pair (information supply from Kraken).
  • The pair may begin one other enhance if it clears the $0.7750 resistance zone.

Cardano Value Climbs Above $0.750

After an honest enhance, Cardano confronted resistance close to the $0.820 zone. ADA shaped a short-term prime and not too long ago began a contemporary decline, underperforming Bitcoin and Ethereum.

There was a transfer beneath the $0.80 and $0.7650 ranges. The bears have been capable of push the worth beneath $0.750. A low was shaped at $0.7362 and the worth is now consolidating losses. It’s effectively beneath the 23.6% Fib retracement stage of the downward transfer from the $0.8191 swing excessive to the $0.7362 low.

Cardano worth is now buying and selling beneath $0.7650 and the 100-hourly easy shifting common. On the upside, the worth would possibly face resistance close to the $0.750 zone. The primary resistance is close to $0.7620. There’s additionally a connecting bearish development line forming with resistance at $0.7620 on the hourly chart of the ADA/USD pair.

Cardano Price

The development line is near the 50% Fib retracement stage of the downward transfer from the $0.8191 swing excessive to the $0.7362 low. The subsequent key resistance may be $0.7680. If there’s a shut above the $0.7680 resistance, the worth may begin a powerful rally. Within the said case, the worth may rise towards the $0.80 area. Any extra positive factors would possibly name for a transfer towards $0.850 within the close to time period.

Extra Losses in ADA?

If Cardano’s worth fails to climb above the $0.7620 resistance stage, it may begin one other decline. Fast help on the draw back is close to the $0.7350 stage.

The subsequent main help is close to the $0.7320 stage. A draw back break beneath the $0.7320 stage may open the doorways for a take a look at of $0.7150. The subsequent main help is close to the $0.70 stage the place the bulls would possibly emerge.

Technical Indicators

Hourly MACD – The MACD for ADA/USD is gaining momentum within the bearish zone.

Hourly RSI (Relative Energy Index) – The RSI for ADA/USD is now beneath the 50 stage.

Main Help Ranges – $0.7350 and $0.7150.

Main Resistance Ranges – $0.7620 and $0.7680.



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Tags: ADAaheadCardanoFacesPainPressureMoreRenewedSelling
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