THELOGICALINDIAN - Key Highlights
Cardano amount is currently accumulation adjoin the US Dollar and Bitcoin. ADA/USD is adverse a cogent attrition abreast the $0.0780-0.0800 zone.
Recently, cardano amount acicular aloft the $0.0800 resistance breadth adjoin the US Dollar. However, the ADA/USD brace bootless to accretion absorption aloft the $0.0800 level. It traded as aerial as $0.0815 and after started a beginning decline. The amount confused bottomward and bankrupt the $0.0780 abutment and the 100 alternate simple affective average. A low was formed at $0.0750 and after the amount started affective higher.
It climbed aloft the $0.0780 akin and the 50% Fibonacci retracement akin of the aftermost abatement from the $0.0815 aerial to $0.0752 low. However, the upside move was afresh capped by the $0.0800 zone. More importantly, there is a monster continued appellation bearish trend band formed with attrition at $0.0780 on the alternate blueprint of the ADA/USD pair. Therefore, a breach aloft the trend band and the 61.8% Fibonacci retracement akin of the aftermost abatement from the $0.0815 aerial to $0.0752 low is charge for more gains. Aloft $0.0800 and the $0.0815 high, the amount is acceptable to ascend aloft the $0.0850 level.
The chart indicates that ADA amount is trading abreast important levels such as $0.0750 and $0.0800. If buyers abide to abort abreast the $0.0800 level, there are aerial affairs of a downside breach beneath the $0.0750 support. On the upside, aloft $0.0800, the amount may move into a bullish zone.
Hourly MACD – The MACD for ADA/USD is about to move into the absolute zone.
Hourly RSI – The RSI for ADA/USD is currently aloof beneath the 50 level.
Major Support Level – $0.0750
Major Resistance Level – $0.0800
