{"id":194535,"date":"2023-10-04T07:39:43","date_gmt":"2023-10-04T07:39:43","guid":{"rendered":"https:\/\/tokenstalk.info\/?p=194535"},"modified":"2023-10-04T07:39:43","modified_gmt":"2023-10-04T07:39:43","slug":"ada-price-is-showing-early-signs-of-fresh-drop-but-100-sma-is-the-key","status":"publish","type":"post","link":"https:\/\/tokenstalk.info\/crypto\/ada-price-is-showing-early-signs-of-fresh-drop-but-100-sma-is-the-key\/","title":{"rendered":"ADA Price Is Showing Early Signs of Fresh Drop, But 100 SMA Is The Key"},"content":{"rendered":"<p><em>Cardano\u2019s price started a fresh decline below $0.264. ADA is struggling and might accelerate lower if there is a close below the $0.250 support.<\/em><\/p>\n<ul>\n<li>ADA price is gaining bearish momentum below the $0.265 level against the US dollar.<\/li>\n<li>The price is trading above $0.250 and the 100 simple moving average (4 hours).<\/li>\n<li>There was a break below a key bullish trend line with support near $0.258 on the 4-hour chart of the ADA\/USD pair (data source from Kraken).<\/li>\n<li>The pair must stay above the $0.250 support to start a fresh increase in the near term.<\/li>\n<\/ul>\n<h2>Cardano Price Trims Gains<\/h2>\n<p>In the past few days, Cardano\u2019s price climbed higher above the $0.255 level. The price was able to clear the $0.265 resistance, but the upsides were limited. The price traded as high as $0.2741 and recently corrected lower, like Bitcoin and Ethereum.<\/p>\n<p>There was a drop below the $0.265 support level. Besides, there was a break below a key bullish trend line with support near $0.258 on the 4-hour chart of the ADA\/USD pair.<\/p>\n<p>Cardano is now testing the 61.8% Fib retracement level of the upward move from the $0.2426 swing low to the $0.2741 high. However, ADA is still above $0.250 and the 100 simple moving average (4 hours).<\/p>\n<p><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/10\/Cardano-ADA.png?resize=1024%2C458\"><\/p>\n<p>Source: ADAUSD on TradingView.com<\/p>\n<p>On the upside, immediate resistance is near the $0.258 zone. The first major resistance is forming near the $0.265 zone. The next key resistance might be $0.274. If there is a close above the $0.274 resistance, the price could start a decent increase. In the stated case, the price could rise toward the $0.300 resistance zone.<\/p>\n<h2>More Losses in ADA?<\/h2>\n<p>If Cardano\u2019s price fails to climb above the $0.265 resistance level, it could continue to move down. Immediate support on the downside is near the $0.250 level.<\/p>\n<p>The next major support is near the $0.242 level. A downside break below the $0.242 level could open the doors for a sharp fresh decline toward $0.220. The next major support is near the $0.200 level.<\/p>\n<p>Technical Indicators<\/p>\n<p>4 hours MACD \u2013 The MACD for ADA\/USD is gaining momentum in the bearish zone.<\/p>\n<p>4 hours RSI (Relative Strength Index) \u2013 The RSI for ADA\/USD is now below the 50 level.<\/p>\n<p>Major Support Levels \u2013 $0.250, $0.242, and $0.220.<\/p>\n<p>Major Resistance Levels \u2013 $0.265, $0.274, and $0.300.<\/p>\n<p>Source: <a href=\"https:\/\/www.newsbtc.com\/analysis\/ada\/ada-price-100-sma-key-at-0-50\/\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Cardano\u2019s price started a fresh decline below $0.264. ADA is struggling and might accelerate lower&#8230;<\/p>\n","protected":false},"author":4,"featured_media":194534,"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 v21.8 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>ADA Price Is Showing Early Signs of Fresh Drop, But 100 SMA Is The Key - Tokens Talk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tokenstalk.info\/crypto\/ada-price-is-showing-early-signs-of-fresh-drop-but-100-sma-is-the-key\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"ADA Price Is Showing Early Signs of Fresh Drop, But 100 SMA Is The Key - Tokens Talk\" \/>\n<meta property=\"og:description\" content=\"Cardano\u2019s price started a fresh decline below $0.264. 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