{"id":1477,"date":"2024-11-28T05:11:04","date_gmt":"2024-11-28T05:11:04","guid":{"rendered":"https:\/\/bitcotasks.com\/blog\/cardano-ada-eyes-momentum-for-its-next-big-move\/"},"modified":"2024-11-28T05:11:04","modified_gmt":"2024-11-28T05:11:04","slug":"cardano-ada-eyes-momentum-for-its-next-big-move","status":"publish","type":"post","link":"https:\/\/bitcotasks.com\/blog\/cardano-ada-eyes-momentum-for-its-next-big-move\/","title":{"rendered":"Cardano (ADA) Eyes Momentum for Its Next Big Move"},"content":{"rendered":"<p><em>Cardano price started a consolidation phase near the $1.00 zone. ADA is holding gains and might aim for a fresh increase above $1.050.<\/em><\/p>\n<ul>\n<li>ADA price started a fresh increase from the $0.8800 zone.<\/li>\n<li>The price is trading above $0.950 and the 100-hourly simple moving average.<\/li>\n<li>There is a key bearish trend line forming with resistance at $1.020 on the hourly chart of the ADA\/USD pair (data source from Kraken).<\/li>\n<li>The pair could start another increase if it clears the $1.050 resistance zone.<\/li>\n<\/ul>\n<h2>Cardano Price Eyes Fresh Surge<\/h2>\n<p>In the past few days, Cardano saw a fresh increase above the $0.850 resistance. ADA remained in a positive zone like Bitcoin and Ethereum. There was a move above the $0.880 and $0.9250 resistance levels.<\/p>\n<p>The price surpassed the 50% Fib retracement level of the downward move from the $1.150 swing high to the $0.8696 low. It even cleared the $1.00 level. However, the bears are now active near the $1.050 zone. There is also a key bearish trend line forming with resistance at $1.020 on the hourly chart of the ADA\/USD pair.<\/p>\n<p>The trend line is close to the 61.8% Fib retracement level of the downward move from the $1.150 swing high to the $0.8696 low. Cardano price is now trading above $0.950 and the 100-hourly simple moving average.<\/p>\n<p><img decoding=\"async\" data-recalc-dims=\"1\" class=\"wp-image-655297 size-full\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2024\/11\/Cardano-ADA_d2c8ac.png?resize=1024%2C478\" alt=\"Cardano Price\" width=\"1024\" height=\"478\" loading=\"lazy\" \/><\/p>\n<p>On the upside, the price might face resistance near the $1.020 zone. The first resistance is near $1.050. The next key resistance might be $1.0840. If there is a close above the $1.0840 resistance, the price could start a strong rally. In the stated case, the price could rise toward the $1.1500 region. Any more gains might call for a move toward $1.20.<\/p>\n<h2>Are Dips Supported in ADA?<\/h2>\n<p>If Cardano\u2019s price fails to climb above the $1.050 resistance level, it could start another decline. Immediate support on the downside is near the $0.9650 level.<\/p>\n<p>The next major support is near the $0.9350 level. A downside break below the $0.9350 level could open the doors for a test of $0.880. The next major support is near the $0.8450 level where the bulls might emerge.<\/p>\n<p>Technical Indicators<\/p>\n<p>Hourly MACD \u2013 The MACD for ADA\/USD is gaining momentum in the bullish zone.<\/p>\n<p>Hourly RSI (Relative Strength Index) \u2013 The RSI for ADA\/USD is now above the 50 level.<\/p>\n<p>Major Support Levels \u2013 $0.9650 and $0.9350.<\/p>\n<p>Major Resistance Levels \u2013 $1.0200 and $1.0500.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Cardano price started a consolidation phase near the $1.00 zone. ADA is holding gains and might aim for a fresh increase above $1.050. ADA price started a fresh increase from the $0.8800 zone. The price is trading above $0.950 and the 100-hourly simple moving average. There is a key bearish trend line forming with resistance&hellip;<\/p>\n","protected":false},"author":1,"featured_media":1478,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[320],"tags":[183,321,184,317,185],"class_list":["post-1477","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ada","tag-ada","tag-adabtc","tag-adausd","tag-adausdt","tag-cardano"],"_links":{"self":[{"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/posts\/1477","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/comments?post=1477"}],"version-history":[{"count":0,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/posts\/1477\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/media\/1478"}],"wp:attachment":[{"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/media?parent=1477"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/categories?post=1477"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/tags?post=1477"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}