THELOGICALINDIAN - Key Highlights
Cardano amount is placed accurately in a bullish area adjoin the US Dollar, Ethereum and Bitcoin. ADA/USD charcoal buy on dips abreast $0.1700.
Cardano Price Analysis
There were added assets in cardano amount aloft the $0.1800 akin adjoin the US Dollar. The ADA/USD brace surged aloft the $0.1900 akin and traded abutting to the $0.2000 level. A aerial was formed at $0.1970 afore the amount started a downside correction. It beneath beneath the $0.1900 abutment and additionally bankrupt the 23.6% Fib retracement akin of the aftermost beachcomber from the $0.1500 low to $0.1970 high.
However, the amount is currently abutting a above abutment abreast $0.1700. There is additionally a cogent bullish trend band formed with abutment at $0.1700 on the alternate blueprint of the ADA/USD pair. Above the trend line, the 50% Fib retracement akin of the aftermost beachcomber from the $0.1500 low to $0.1970 aerial is at $0.1735. Around the trend line, the 100 alternate simple affective boilerplate is positioned at $0.1680. Therefore, if the amount corrects lower from the accepted levels, it is acceptable to acquisition a strong support abreast $0.1700 and the 100 alternate SMA.
The chart indicates that the amount charcoal in an uptrend with abutment at $0.1730, $0.1700 and $.1680. Below these, the amount could revisit $0.1500. On the upside, the amount has to move aloft the $0.1850 and $0.1900 resistances to resume its upside move. The best important attrition is abreast $0.2000.
Hourly MACD – The MACD for ADA/USD is about to move aback in the bullish zone.
Hourly RSI – The RSI for ADA/USD is currently beneath the 50 akin and is branch south.
Major Support Level – $0.1700
Major Resistance Level – $0.1850
