THELOGICALINDIAN - Key Highlights
Cardano amount fell decidedly afresh adjoin the US Dollar and Bitcoin. ADA/USD is acceptable to abatement added appear the $0.0530 level.
In the aftermost analysis, we discussed that cardano amount could extend losses beneath $0.0620 adjoin the US Dollar. The ADA/USD brace did abatement afresh and traded beneath the $0.0620 and $0.0600 abutment levels. There was alike a abutting beneath the $0.0600 abutment and the 100 alternate simple affective average. The aftermost beat aerial was formed abreast $0.0640 from area the amount started a solid decline.
During the drop, there was a breach beneath a abutting bullish trend band with abutment at $0.0614 on the alternate blueprint of the ADA/USD pair. Added importantly, the amount traded beneath the aftermost beat low of $0.0579. The abutting abutment is at $0.0560, which is the 1.236 Fibonacci addendum akin of the aftermost beachcomber from the $0.0579 low to $0.0649 high. The accepted amount activity is super bearish beneath $0.060. Thus, there are aerial affairs of added losses appear the $0.0535 level. It represents the 1.618 Fibonacci addendum akin of the aftermost beachcomber from the $0.0579 low to $0.0649 high.
The chart indicates that ADA amount acclimatized beneath a few key abutment at $0.0600 and the 100 alternate SMA. To recover, the amount charge ascend aloft $0.0600, $0.06200. If buyers abort to accretion traction, the amount will best acceptable accelerate beneath $0.0550 in the abreast term.
Hourly MACD – The MACD for ADA/USD is accepting backbone in the bearish zone.
Hourly RSI – The RSI for ADA/USD is currently beneath the 30 level.
Major Support Level – $0.0550
Major Resistance Level – $0.0620
