{"id":2203,"date":"2025-01-07T05:11:05","date_gmt":"2025-01-07T05:11:05","guid":{"rendered":"https:\/\/bitcotasks.com\/blog\/cardano-ada-momentum-builds-rally-has-more-room-to-run\/"},"modified":"2025-01-07T05:11:05","modified_gmt":"2025-01-07T05:11:05","slug":"cardano-ada-momentum-builds-rally-has-more-room-to-run","status":"publish","type":"post","link":"https:\/\/bitcotasks.com\/blog\/cardano-ada-momentum-builds-rally-has-more-room-to-run\/","title":{"rendered":"Cardano (ADA) Momentum Builds: Rally Has More Room to Run"},"content":{"rendered":"<p><em>Cardano price started a fresh surge above the $1.00 zone. ADA is consolidating and might aim for a fresh increase above the $1.1150 level.<\/em><\/p>\n<ul>\n<li>ADA price started a downside correction from the $1.1150 zone.<\/li>\n<li>The price is trading above $1.00 and the 100-hourly simple moving average.<\/li>\n<li>There is a short-term rising channel forming with support at $1.075 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 $1.1150 resistance zone.<\/li>\n<\/ul>\n<h2>Cardano Price Starts Fresh Surge<\/h2>\n<p>After forming a base above the $0.80 level, Cardano started a fresh increase, beating Bitcoin and Ethereum. ADA surged above the $0.90 and $1.00 levels.<\/p>\n<p>The bulls even pushed the price above $1.120. A high was formed at $1.1156 and the price is now consolidating gains. There was a minor decline below $1.1120, but the price remained above the 23.6% Fib retracement level of the upward move from the $0.8373 swing low to the $1.1156 high.<\/p>\n<p>Cardano price is now trading above $1.00 and the 100-hourly simple moving average. There is also a short-term rising channel forming with support at $1.075 on the hourly chart of the ADA\/USD pair.<\/p>\n<p><img decoding=\"async\" data-recalc-dims=\"1\" class=\"size-full wp-image-671761\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2025\/01\/Cardano-ADA.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 $1.10 zone. The first resistance is near $1.1120. The next key resistance might be $1.1150. If there is a close above the $1.1150 resistance, the price could start a strong rally. In the stated case, the price could rise toward the $1.20 region. Any more gains might call for a move toward $1.250 in the near term.<\/p>\n<h2>Downside Correction in ADA?<\/h2>\n<p>If Cardano\u2019s price fails to climb above the $1.1120 resistance level, it could start another decline. Immediate support on the downside is near the $1.080 level.<\/p>\n<p>The next major support is near the $1.050 level. A downside break below the $1.050 level could open the doors for a test of $0.975 or the 50% Fib retracement level of the upward move from the $0.8373 swing low to the $1.1156 high. The next major support is near the $0.950 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 $1.0800 and $1.050.<\/p>\n<p>Major Resistance Levels \u2013 $1.1120 and $1.1150.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Cardano price started a fresh surge above the $1.00 zone. ADA is consolidating and might aim for a fresh increase above the $1.1150 level. ADA price started a downside correction from the $1.1150 zone. The price is trading above $1.00 and the 100-hourly simple moving average. There is a short-term rising channel forming with support&hellip;<\/p>\n","protected":false},"author":1,"featured_media":2204,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[320],"tags":[183,321,184,317,185],"class_list":["post-2203","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\/2203","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=2203"}],"version-history":[{"count":0,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/posts\/2203\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/media\/2204"}],"wp:attachment":[{"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/media?parent=2203"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/categories?post=2203"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/tags?post=2203"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}