Cardano ADA News: Potential Further Decline Below $0.9350 Support

Cardano (ADA) is facing a potential downturn as it struggles to maintain key support levels. The cryptocurrency, which recently declined from the $1.00 zone, is now trading below $0.950 and the 100-hourly simple moving average. A breakdown below the $0.9350 support could signal further losses.

Cardano (ADA) at Risk: Breakdown Signal Suggests Further Decline

Cardano price started a fresh decline from the $1.00 zone. ADA is consolidating and might continue to move down below the $0.9350 support. The price is trading below $0.950 and the 100-hourly simple moving average. There was a break below a key bullish trend line with support at $0.950 on the hourly chart of the ADA/USD pair. The pair could start another decline if it trades below the $0.9350 support zone. After struggling to stay above the $1.00 level, Cardano started a fresh decline unlike Bitcoin and Ethereum. ADA declined below the $0.9650 and $0.950 support levels. There was a clear move below the $0.950 support zone.

Cardano (ADA) Predicted To Rally 162%, Hit $2.47: Here’s When

Cardano (ADA) has struggled over the last few years, failing to gain momentum since the 2021 bull run. The asset has not traded above the $2 mark since November 2021. Currently, ADA is down 0.5% in the daily charts, 4.5% in the weekly charts, and 14.3% in the 14-day charts. Despite these dips, ADA has maintained gains in the monthly and yearly charts, rallying 13.3% and 89.4%, respectively. The asset's struggles could be due to low investor sentiment and macroeconomic factors, such as the strengthening US dollar, which is causing investors to move to safer assets.

Cardano (ADA) Price Prediction For January 31

Cardano (ADA) has experienced some volatility recently, with its price currently at $0.97, marking a slight decrease of 1.6% from the previous day. The price has fluctuated between $0.94 and $0.99 today. Technical indicators show a neutral Relative Strength Index (RSI) at 46.61, indicating a balance between buying and selling pressures. The Moving Average Convergence Divergence (MACD) is slightly above zero, suggesting some upward momentum. Short-term moving averages, such as the 5-day, indicate a bullish trend.

Cardano ($ADA) Triangle Consolidation: 40% Breakout

Cardano ($ADA) is currently consolidating within a symmetrical triangle pattern on its price chart, a technical formation that typically indicates a period of market indecision. This pattern has been forming since December 2024. Analysts predict that a breakout from this triangle could lead to a significant price movement, potentially as large as 40%. The breakout direction will likely determine the subsequent price momentum. Crypto Analyst Ali Martinez highlighted this setup in January 2025, noting the potential for a substantial move once the pattern resolves.