{"id":188597,"date":"2018-10-31T04:28:37","date_gmt":"2018-10-31T08:28:37","guid":{"rendered":"https:\/\/insidebitcoins.com\/news\/cardano-price-analysis-ada-usd-could-accelerate-below-0-070\/188597"},"modified":"2021-08-14T15:30:56","modified_gmt":"2021-08-14T19:30:56","slug":"cardano-price-analysis-ada-usd-could-accelerate-below-0-070","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/cardano-price-analysis-ada-usd-could-accelerate-below-0-070","title":{"rendered":"Cardano Price Analysis: ADA\/USD Could Accelerate Below $0.070"},"content":{"rendered":"<p>&nbsp;<\/p>\n<p>Key Highlights<\/p>\n<ul>\n<li>ADA price declined further and traded below the $0.0700 support area against the US Dollar (tethered).<\/li>\n<li>There was a break below a contracting triangle with support at $0.0725 on the hourly chart of the ADA\/USD pair (data feed via Bittrex).<\/li>\n<li>The pair is under pressure and it could accelerate declines below $0.0700 in the near term.<\/li>\n<\/ul>\n<p><em>Cardano price remains in a downtrend against the US Dollar and Bitcoin. ADA\/USD could continue to move down towards the $0.0650 level if sellers remain in action.<\/em><\/p>\n<h3>Cardano Price Analysis<\/h3>\n<p>In the last analysis, we discussed that cardano price <a href=\"https:\/\/www.newsbtc.com\/2018\/10\/29\/cardano-price-analysis-ada-usd-sliding-towards-0-070\/\" target=\"_blank\" rel=\"noopener\">could slide towards the $0.0700 level<\/a> against the US Dollar. The ADA\/USD pair did trade lower and not only tested the $0.0700 level, but surpassed it. The pair traded as low as $0.0691 and it is currently consolidating losses. During the decline, there was a break below the key support near $0.0700 and the 100 hourly simple moving average.<\/p>\n<p>More importantly, there was a break below a contracting triangle with support at $0.0725 on the hourly chart of the ADA\/USD pair. An initial resistance is the 23.6% Fibonacci retracement level of the recent decline from the $0.0753 high to $0.0691 low. If there is an upside move above the $0.0700 level, the broken support at $0.0720 and the 100 hourly SMA could stop upsides. Moreover, the 50% Fibonacci retracement level of the recent decline from the $0.0753 high to $0.0691 low is near $0.0722 to <a href=\"https:\/\/www.newsbtc.com\/2018\/10\/26\/cardano-price-analysis-ada-usd-could-drop-towards-0-070\/\" target=\"_blank\" rel=\"noopener\">prevent gains<\/a>. Therefore, any major recovery from the current levels could face sellers near $0.0720 or $0.0725.<\/p>\n<p><img decoding=\"async\" class=\"alignnone size-full wp-image-355886\" src=\"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2018\/10\/Cardano-Price12.png\" alt=\"Cardano Price Analysis ADA Chart\" width=\"1828\" height=\"899\" \/><\/p>\n<p>The <a href=\"https:\/\/www.tradingview.com\/symbols\/ADAUSDT\/\" target=\"_blank\" rel=\"noopener nofollow\">chart<\/a> indicates that ADA price is at a risk of more declines as long as it is below $0.0725 and the 100 hourly SMA. If there is a downside break below the recent low, the price may accelerate towards the $0.0670 or $0.0650 level.<\/p>\n<p>Hourly MACD \u2013 The MACD for ADA\/USD is about to move back in the bearish zone.<\/p>\n<p>Hourly RSI \u2013 The RSI for ADA\/USD is well below the 50 level.<\/p>\n<p>Major Support Level \u2013 $0.0690<\/p>\n<p>Major Resistance Level \u2013 $0.0725<\/p>\n<p>&nbsp;<\/p>\n<p>The post <a href=\"https:\/\/www.newsbtc.com\/2018\/10\/31\/cardano-price-analysis-ada-usd-could-accelerate-below-0-070\/\" rel=\"nofollow\">Cardano Price Analysis: ADA\/USD Could Accelerate Below $0.070<\/a> appeared first on <a href=\"https:\/\/www.newsbtc.com\/\" rel=\"nofollow\">NewsBTC<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<div class=\"fin-excerpt\">&nbsp; Key Highlights ADA price declined further and traded below the $0.0700 support area against the US Dollar (tethered). There was a break below a <a class=\"read-more-link\" href=\"https:\/\/insidebitcoins.com\/news\/cardano-price-analysis-ada-usd-could-accelerate-below-0-070\" title=\"Cardano Price Analysis: ADA\/USD Could Accelerate Below $0.070\">[&#8230;]<\/a><\/div>","protected":false},"author":168,"featured_media":188600,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-188597","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-more-crypto-news"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.8 (Yoast SEO v23.8) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Cardano Price Analysis: ADA\/USD Could Accelerate Below $0.070 - InsideBitcoins.com<\/title>\n<meta name=\"description\" content=\"The AUD\/USD pair is under pressure, and it could accelerate declines below $0.0700 in the near term; 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