Cardano price is struggling below $0.388 against the US Dollar, similar to Bitcoin. ADA price could start a fresh increase if it clears the $0.380 and $0.388 resistance levels.<\/em><\/p>\nCardano Price Analysis<\/h2>\n
This past week, Cardano price saw a rejection pattern near the $0.398 zone against the US Dollar. The ADA\/USD pair declined below the $0.388 and $0.380 support levels.<\/p>\n
The price even declined below the $0.355 support and the 55 simple moving average (4 hours). It revisited the $0.350 support zone. A low is formed near $0.3500 and the price is consolidating losses. It is now trading below $0.380 and the 55 simple moving average (4 hours).<\/p>\n
Besides, there is a short-term rising channel forming with resistance near $0.376 on the 4-hour chart. On the upside, immediate resistance is near the $0.374 zone or the 50% Fib retracement level of the downward move from the $0.3966 swing high to the $0.3500 low.<\/p>\n
The first major resistance is near the $0.380 level. It is close to the 61.8% Fib retracement level of the downward move from the $0.3966 swing high to the $0.3500 low.<\/p>\n
A clear upside break above the $0.380 level might send the price toward the $0.388 resistance. Any more gains could start a steady increase toward the $0.400 level or even $0.425. On the downside, immediate support is near the $0.360 level.<\/p>\n
The next major support is near the $0.350 level, below which the price may perhaps decline toward the $0.332 support level. Any more losses might call for a test of the $0.320 level.<\/p>\n
![](\"https:\/\/www.livebitcoinnews.com\/https:\/\/s3.amazonaws.com\/lbn-s3\/2023\/05\/Cardano-Price-2.png\")
<\/p>\n
Cardano (ADA) Price<\/p>\n
The chart indicates that ADA price is now trading below $0.380 and the 55 simple moving average (4 hours). Overall, the price could continue to move down if it stays below the $0.380 resistance zone.<\/p>\n
Technical Indicators<\/h2>\n
4 hours MACD \u2013 The MACD for ADA\/USD is now gaining pace in the bearish zone.<\/p>\n
4 hours RSI – The RSI for ADA\/USD is now below the 50 level.<\/p>\n
Key Support Levels \u2013 $0.360 and $0.350.<\/p>\n
Key Resistance Levels \u2013 $0.380 and $0.388.<\/p>\n
Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Earn Your First Bitcoin Sign up and<\/p>\n","protected":false},"author":3,"featured_media":175527,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"\n
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