Cardano ADA News: Price Decline and Bearish Trends Raise Concerns

Cardano (ADA) has recently experienced a price decline, slipping below the $1.050 mark. The cryptocurrency is currently consolidating and may face challenges in initiating a fresh increase above the $1.0250 level. This decline follows a drop from the $1.150 zone, with ADA now trading below $1.0550 and the 100-hourly simple moving average. A connecting bearish trend line is forming, with resistance noted at $1.040 on the hourly chart of the ADA/USD pair, according to data from Kraken.

Cardano (ADA) Slips: A Healthy Correction or Bulls Losing Grip?

Cardano price started a fresh decline below the $1.050 zone. ADA is consolidating and might struggle to start a fresh increase above the $1.0250 level. ADA price started a fresh decline from the $1.150 zone. The price is trading below $1.0550 and the 100-hourly simple moving average. There is a connecting bearish trend line forming with resistance at $1.040 on the hourly chart of the ADA/USD pair (data source from Kraken). The pair could start another increase if it clears the $1.050 resistance zone.

Cardano (ADA) Gains 20% in a Week, Yet Weak Trend Signals Suggest Consolidation

Cardano (ADA) has experienced a 20% increase in value over the past week. However, the Ichimoku Cloud chart indicates potential hesitation in momentum, with narrowing cloud patterns. The ADX (Average Directional Index) for Cardano has declined to 14.2 from 24.8 three days ago, signaling a weakening trend. This decline follows a rapid price increase from $0.89 to $1.13 over four days. The ability of ADA to maintain its upward trajectory or face a correction will depend on its ability to break key resistance levels or hold critical support zones.

Cardano (ADA) Predicted To Rally 169% To $2.61: Here’s When

Despite the cryptocurrency market's lack of reaction following Donald Trump's inauguration on Jan. 20, 2025, Cardano (ADA) is predicted to enter a bullish phase in early February 2025. According to CoinCodex, ADA is expected to reclaim the $1 mark on Feb. 3, 2025, and potentially rally up to $2.61, marking a 169% increase. Currently, ADA has seen a 9.5% decrease in the daily charts and an 11.3% decrease over the past 14 days. However, it has maintained gains in other time frames, with a 1.5% increase in the weekly charts, a 9.1% increase over the previous month, and an 89.3% increase since January 2024.

Cardano (ADA) Price Prediction For January 21

Cardano (ADA) has shown significant activity recently, currently priced around $1.00, marking a slight decrease of 4.84% from the previous day. The price has fluctuated between $1.07 and $0.95. Over the past week, ADA has increased by 5.13%, and it has risen by 10% over the last month, indicating strong momentum. Over the past year, ADA has grown by nearly 100%, showcasing impressive growth in the volatile cryptocurrency market. Technically, Cardano is trading within an ascending channel, suggesting a bullish trend. However, if the price falls below this channel, it could indicate a potential reversal.