THELOGICALINDIAN - Key Highlights
Cardano amount beneath afresh adjoin the US Dollar and Bitcoin. ADA/USD charge break aloft the $0.1600 abutment to abstain an continued abatement to $0.1500.
Cardano Price Analysis
There were a brace of attempts by cardano amount to bright the $0.1780-0.1800 resistance adjoin the US Dollar. The ADA/USD brace bootless to accretion absorption and formed beat highs abreast $0.1800, $0.1780 and $0.1750. It confused bottomward and bankrupt a concise abutment at $0.1700. There was alike a abutting beneath the $0.1680 akin and the 100 alternate simple affective average.
However, the downside move adjourned abreast the $0.1600 support. The amount is currently accumulation aloft the $0.1600 abutment with a few bearish signs. On the upside, an antecedent attrition is abreast the 50% Fib retracement akin of the aftermost abatement from the $0.1755 aerial to $0.1601 low. Aloft this, there is a above bearish trend band in abode with attrition at $0.1720 on the alternate blueprint of the ADA/USD pair. The trend band attrition is abutting to the 76.4% Fib retracement akin of the aftermost abatement from the $0.1755 aerial to $0.1601 low. Moreover, the 100 alternate simple affective average is additionally abreast $0.1710.
The chart indicates that the amount may actual college appear the $0.1700 and $0.1720 attrition levels. However, a breach aloft $0.1720 attrition won’t be easy. On the downside, a breach beneath the $0.1600 abutment may conceivably advance the amount added lower appear the $0.1500 level.
Hourly MACD – The MACD for ADA/USD is currently abbreviation its bearish slope.
Hourly RSI – The RSI for ADA/USD is affective lower appear the 30 level.
Major Support Level – $0.1600
Major Resistance Level – $0.1720
