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ADA Price Prediction: Can Cardano Rally from 100 SMA?
Cardano is falling below $0.500. ADA may fall if it continues below the 100 SMA.
ADA is progressively falling from $0.520.
Prices are below $0.500 and the 100 SMA.
On the 4-hour ADA/USD chart, a negative trend line with resistance at $0.4740 is formed.
If bulls stay above $0.4280, the pair may rise again.
Key Cardano Price Obstacles
Cardano, like Bitcoin and Ethereum, fell from $0.520 in recent days. After falling below $0.500 and $0.4950, ADA entered a bearish zone.
The upward run from the $0.4000 swing low to the $0.5201 high fell below the 50% Fib retracement line. Even below $0.4650, it challenged $0.450. The price is below $0.500 and the 100 SMA.
On the 4-hour ADA/USD chart, a negative trend line with resistance at $0.4740 is formed. Bulls are active at $0.450 and the 61.8% Fib retracement line of the $0.4000 swing low to $0.5201 high.
The $0.4740 zone, 100 simple moving average (4 hours), and trend line are imminent upward resistance. Around $0.4920 is the first resistance. The next hurdle may be $0.500. If the price closes over $0.50 barrier, it might rebound strongly.
In this situation, the price may reach $0.5250. More increases might lead to $0.5650.
More ADA losses?
Cardano may fall if it fails to rise over $0.4740 barrier and the 100 simple moving average (4 hours). Near $0.450 is immediate downside support.
Near $0.4280 is the next important support. A drop below $0.4280 might challenge $0.40. Near $0.3880 is the next important support.
Tech Indicators
The negative MACD for ADA/USD is growing after 4 hours.
4-hour RSI (Relative Strength Index): ADA/USD is below 50.
Major Support Levels: $0.4500, $0.4280, $0.4000.
Major resistance levels: $0.4740, $0.5000, $0.5200.
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