{"id":169680,"date":"2023-01-17T07:26:38","date_gmt":"2023-01-17T07:26:38","guid":{"rendered":"https:\/\/precoinnews.com\/?p=169680"},"modified":"2023-01-17T07:26:38","modified_gmt":"2023-01-17T07:26:38","slug":"cardano-ada-price-analysis-more-gains-likely-above-0-38","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/cardano-ada-price-analysis-more-gains-likely-above-0-38\/","title":{"rendered":"Cardano (ADA) Price Analysis: More Gains Likely Above $0.38"},"content":{"rendered":"
Cardano price is showing positive signs above $0.340 against the US Dollar, similar to bitcoin. ADA price could extend its increase if it clears the $0.380 resistance.<\/em><\/p>\n This week, cardano price started a strong increase above the $0.300 resistance zone against the US Dollar. The ADA\/USD pair gained pace for a move above the $0.320 and $0.325 levels.<\/p>\n It even broke the $0.332 level and settled well above the 55 simple moving average (4-hours). It traded as high as $0.3699 and recently started a downside correction. There was a move below the $0.360 and $0.350 levels. The price declined below the 23.6% Fib retracement level of the upward wave from the $0.3083 swing low to $0.3699 high.<\/p>\n There was a break below a connecting bullish trend line with support near $0.350 on the 4-hours chart. It is now trading above $0.332 and the 55 simple moving average (4-hours).<\/p>\n On the upside, an immediate resistance is near the $0.355 zone. A clear move above the $0.355 resistance might start a strong increase. The next major resistance is near the $0.370 level. A clear upside break above the $0.370 level might send the price towards the $0.38 resistance or even $0.40.<\/p>\n On the downside, an immediate support is near the $0.340 level. It is near the 50% Fib retracement level of the upward wave from the $0.3083 swing low to $0.3699 high.<\/p>\n The next major support is near the $0.332 level. A clear move below the $0.332 level might send the price towards the $0.300 level. Any more losses might send the price towards the $0.280 support.<\/p>\n <\/p>\n Cardano (ADA) Price<\/p>\n The chart indicates that ADA price is now trading above $0.332 and the 55 simple moving average (4-hours). Overall, the price could gain bullish momentum if it clears the $0.370 and $0.380 levels.<\/p>\n 4 hours MACD \u2013 The MACD for ADA\/USD is now gaining pace in the bullish zone.<\/p>\n 4 hours RSI – The RSI for ADA\/USD is now above the 50 level.<\/p>\n Key Support Levels \u2013 $0.340 and $0.332.<\/p>\n Key Resistance Levels \u2013 $0.355 and $0.370.<\/p>\nCardano Price Analysis<\/h2>\n
Technical Indicators<\/h2>\n