Cardano price started a fresh decline below the $0.9250 zone. ADA is now correcting losses and struggling to clear the $0.80 resistance.

• ADA price started a fresh decline from the $0.9250 zone.
• The price is trading below $0.850 and the 100-hourly simple moving average.
• There is a key bearish trend line forming with resistance at $0.8050 on the hourly chart of the ADA/USD pair (data source from Kraken).
• The pair could start another decline if it trades below the $0.7650 support zone.

Cardano Price Faces Resistance

After struggling to stay above the $0.950 level, Cardano started a fresh decline like Bitcoin and Ethereum. ADA declined below the $0.90 and $0.850 support levels.

There was a clear move below the $0.60 support zone. A low was formed at $0.5105 and the price recently started a decent upward move. The price cleared the $0.60 and $0.70 resistance levels. The bulls pumped the price above the 50% Fib retracement level of the downward move from the $0.9828 swing high to the $0.5105 low.

However, the bears are now active near the $0.80 zone. There is also a key bearish trend line forming with resistance at $0.8050 on the hourly chart of the ADA/USD pair.

Cardano price is now trading below $0.80 and the 100-hourly simple moving average. On the upside, the price might face resistance near the $0.80 zone and the 61.8% Fib retracement level of the downward move from the $0.9828 swing high to the $0.5105 low.

The first resistance is near $0.820. The next key resistance might be $0.850. If there is a close above the $0.850 resistance, the price could start a strong rally. In the stated case, the price could rise toward the $0.9250 region. Any more gains might call for a move toward $1.00 in the near term.

Another Decline in ADA?

If Cardano’s price fails to climb above the $0.80 resistance level, it could start another decline. Immediate support on the downside is near the $0.7650 level.

The next major support is near the $0.7230 level. A downside break below the $0.7230 level could open the doors for a test of $0.6880. The next major support is near the $0.6250 level where the bulls might emerge.

Technical Indicators

Hourly MACD – The MACD for ADA/USD is losing momentum in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for ADA/USD is now above the 50 level.

Major Support Levels – $0.7650 and $0.7230.

Major Resistance Levels – $0.8000 and $0.8200.

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Hedera’s native token, HBAR, has faced a sharp decline after failing to breach the $0.40 resistance level. The altcoin recently retraced to $0.25, a significant drop that has left traders uncertain. 

While this correction may signal bearish sentiment in the short term, the broader macro outlook remains highly bullish. However, for HBAR to reclaim momentum, it must navigate the growing hesitation among market participants.

HBAR Traders Are Uncertain

The market’s reaction to HBAR’s recent downturn is evident in the Futures market data. Open Interest currently stands at $216 million, a sharp decline from $367 million just three days ago. This $150 million drop highlights the hesitancy among traders, many of whom are liquidating positions.

The contraction in Open Interest suggests a shift toward bearish sentiment. Traders are moving out of leveraged positions, signaling decreased confidence in a near-term recovery. As a result, unless a resurgence in interest occurs, HBAR’s price action could remain subdued.

From a technical perspective, HBAR’s macro momentum reflects a strengthening bearish trend. The Relative Strength Index (RSI) has dropped to a three-month low, last seen in November 2024. Currently sitting below the neutral 50.0 level, the indicator highlights growing downside pressure.

The falling RSI suggests sellers are gaining control, making it more challenging for bulls to push prices higher. If this downward momentum continues, it could suppress any breakout attempts, keeping HBAR range-bound for an extended period.

HBAR Price Prediction: Finding A Breach

Despite the short-term bearish pressure, HBAR is forming a macro bull flag pattern, historically a precursor to substantial rallies. If this setup plays out, the altcoin could see a 684% surge, targeting $2.83. However, for this rally to materialize, HBAR must decisively break through the $0.40 resistance.

In the near term, the probability of an immediate breakout remains low. The price is likely to continue consolidating within the $0.25 to $0.40 range. If downward pressure intensifies, HBAR could lose support at $0.25, triggering a further decline toward $0.18.

The only way to invalidate this bearish outlook is for HBAR to reclaim $0.40 as a support level. A successful breach of this resistance could fuel a rally toward $0.47, confirming a breakout from the bull flag pattern and paving the way for higher price targets.

Disclaimer

In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.

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XRP price recovered most losses and rallied over 25%. The price is back above $2.65 and now faces hurdles near the $2.820 level.

• XRP price started a strong upward move above the $2.50 level.
• The price is now trading below $2.80 and the 100-hourly Simple Moving Average.
• There was a break above a connecting bearish trend line with resistance at $2.420 on the hourly chart of the XRP/USD pair (data source from Kraken).
• The pair might start a fresh increase if it clears the $2.820 resistance zone.

XRP Price Recovers Over 25%

XRP price started a fresh decline below the $2.850 zone, like Bitcoin and Ethereum. The price declined heavily below the $2.50 and $2.350 support levels. The bears even pushed it below $2.00.

There was a sharp drop of over 25% and the price tested the $1.75 zone. A low was formed at $1.75 and the price recently started a sharp recovery wave. The bulls pumped the price above the $2.20 and $2.50 levels. There was a move above the 61.8% Fib retracement level of the downward move from the $3.155 swing high to the $1.750 low.

Besides, there was a break above a connecting bearish trend line with resistance at $2.420 on the hourly chart of the XRP/USD pair. The price is now trading below $2.80 and the 100-hourly Simple Moving Average.

On the upside, the price might face resistance near the $2.80 level. The first major resistance is near the $2.820 level and the 76.4% Fib retracement level of the downward move from the $3.155 swing high to the $1.750 low. The next resistance is $2.940.

A clear move above the $2.940 resistance might send the price toward the $3.00 resistance. Any more gains might send the price toward the $3.050 resistance or even $3.120 in the near term. The next major hurdle for the bulls might be $3.20.

Another Decline?

If XRP fails to clear the $2.820 resistance zone, it could start another decline. Initial support on the downside is near the $2.620 level. The next major support is near the $2.50 level.

If there is a downside break and a close below the $2.50 level, the price might continue to decline toward the $2.450 support. The next major support sits near the $2.350 zone.

Technical Indicators

Hourly MACD – The MACD for XRP/USD is now gaining pace in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now above the 50 level.

Major Support Levels – $2.620 and $2.450.

Major Resistance Levels – $2.80 and $2.820.

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