{"id":117585,"date":"2021-03-19T07:40:57","date_gmt":"2021-03-19T07:40:57","guid":{"rendered":"https:\/\/precoinnews.com\/?p=117585"},"modified":"2021-03-19T07:40:57","modified_gmt":"2021-03-19T07:40:57","slug":"charted-cardano-ada-corrects-gains-why-it-could-rally-again-to-1-5","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/charted-cardano-ada-corrects-gains-why-it-could-rally-again-to-1-5\/","title":{"rendered":"Charted: Cardano (ADA) Corrects Gains, Why It Could Rally Again To $1.5"},"content":{"rendered":"<p><em>Cardano&rsquo;s price gained over 25% this week and it broke the key $1.200 resistance zone. ADA is likely to continue higher above the $1.300 and $1.400 resistance levels.<\/em><\/p>\n<ul>\n<li>ADA is showing a lot of positive signs above the $1.200 pivot level against the US dollar.<\/li>\n<li>The price is trading nicely above $1.2000 and the 100 simple moving average (4-hours).<\/li>\n<li>There was a break above a crucial bearish trend line with resistance near $1.050 on the 4-hours chart of the ADA\/USD pair (data source from Bitfinex).<\/li>\n<li>The pair might correct lower, but the larger trend is up and it could rise above $1.500.<\/li>\n<\/ul>\n<h2>Cardano (ADA) is Correcting Gains<\/h2>\n<p>After forming a support base above the $0.9980 and $1.00 levels, cardano&rsquo;s price started a fresh increase. ADA price broke the $1.120 and $1.200 resistance levels to move into a positive zone.<\/p>\n<p>There was also a break above a crucial bearish trend line with resistance near $1.050 on the 4-hours chart of the ADA\/USD pair. The pair even cleared the $1.220 resistance zone. It is now trading nicely above $1.2000 and the 100 simple moving average (4-hours).<\/p>\n<p><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2021\/03\/spring-cta-2.gif\" \/><br \/>\n<img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2021\/03\/AD2_728x90.gif\" \/><\/p>\n<p>ADA climbed towards the $1.480 resistance and high is formed near $1.472. Recently, there was a downside correction below the $1.335 support zone zone. The price also spiked below the 50% Fib retracement level of the upward move from the $1.001 swing low to $1.472 high.<\/p>\n<p><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2021\/03\/Cardano-ADA-2.png\"><\/p>\n<p>Source: ADAUSD on TradingView.com<\/p>\n<p>However, the bulls are protecting the key $1.2000 support zone. The price is also holding the 61.8% Fib retracement level of the upward move from the $1.001 swing low to $1.472 high.<\/p>\n<p>If there is a downside break below the $1.200 support and the 100 simple moving average (4-hours), there could be a trend change. In the stated case, the price could decline towards the $1.050 support.<\/p>\n<h2>Fresh Increase?<\/h2>\n<p>If cardano&rsquo;s price stays above the $1.200 support, it could start a fresh increase. On the upside, an immediate resistance is near $1.300 and $1.335.<\/p>\n<p>The next major resistance is near the $1.400 and $1.405 levels. A clear break above the $1.400 resistance will most likely open the doors for a steady increase towards the $1.500 level in the near term.<\/p>\n<p>Technical Indicators<\/p>\n<p>4-hours MACD &ndash; The MACD for ADA\/USD is slowly gaining momentum in the bearish zone.<\/p>\n<p>4-hours RSI (Relative Strength Index) &ndash; The RSI for ADA\/USD is now testing the 50 level.<\/p>\n<p>Major Support Levels &ndash; $1.200, $1.180 and $1.050.<\/p>\n<p>Major Resistance Levels &ndash; $1.300, $1.335 and $1.400.<\/p>\n<p>Source: <a href=\"https:\/\/www.newsbtc.com\/analysis\/ada\/charted-cardano-ada-corrects-gains-why-it-could-rally-again-to-1-5\/\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Cardano&rsquo;s price gained over 25% this week<\/p>\n","protected":false},"author":3,"featured_media":117584,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - 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