THELOGICALINDIAN - Key Highlights
Cardano amount is beneath burden adjoin the US Dollar and Bitcoin. ADA/USD may actual a few points, but it could abort to move aloft the $0.18-0.19 attrition zone.
Cardano Price Support
The accomplished few canicule were mostly bearish as ADA amount beneath beneath the $0.2000 abutment akin adjoin the US Dollar. The amount continued losses and alike bankrupt beneath the $0.1900 level. The contempo amount activity was bearish and the amount traded appear the $0.1650 level. A low was formed at $0.1670 afore the amount started a tiny upside recovery.
It bootless to alike breach the 23.6% Fib retracement akin of the aftermost downside move from the $0.2296 aerial to $0.1670 low. It seems like there is a concise application triangle basic with attrition at $0.1800 on the alternate blueprint of the ADA/USD pair. The brace may abide to barter in a ambit and it could move aloft $0.1800. However, there is a acute attrition abreast $0.1900. The mentioned $0.1900 was a abutment beforehand and now it is acceptable to anticipate gains. Moreover, the 38.2% Fib retracement akin of the last downside move from the $0.2296 aerial to $0.1670 low is additionally about $0.191.
Therefore, the $0.18 and $0.19 levels are important resistances. On the downside, the amount should breach aloft the $0.1650 and $0.1600 levels. Should there be a breach beneath $0.1600, the amount could arch appear the $0.15 level.
Hourly MACD – The MACD for ADA/USD is mostly in the bearish zone.
Hourly RSI – The RSI for ADA/USD is currently aloof beneath the 50 level.
Major Support Level – $0.1650
Major Resistance Level – $0.2024
Charts address – Trading View
