THELOGICALINDIAN - Key Highlights
Cardano amount is trading with absolute moves adjoin the US Dollar and Bitcoin. ADA/USD charge breach the $0.100 and $0.105 attrition levels.
Cardano Price Analysis
After a downward move beneath the $0.1000 support, cardano amount begin abutment abreast $0.090 adjoin the US Dollar. The ADA/USD brace started a accretion and confused aloft the $0.095 attrition level. The amount additionally confused aloft the 23.6% Fibonacci retracement akin of the aftermost accelerate from the $0.1119 aerial to $0.0904 low, which is a absolute sign.
Moreover, there was a breach aloft a key bearish trend band with attrition at $0.0940 on the alternate blueprint of the ADA/USD pair. However, the upside move was capped by the $0.1000 attrition and the 100 alternate simple affective average. Additionally, the 50% Fibonacci retracement akin of the aftermost accelerate from the $0.1119 aerial to $0.0904 low additionally prevented gains. The amount is currently acclimation lower and is trading abreast the $0.0970 and $0.0950 levels. If the amount corrects added lower, the $0.0940 akin is acceptable to act as a buy zone. On the cast side, the amount has to move aloft the $0.1000 attrition for added assets in the abreast term.
The chart indicates that ADA amount is aback in a absolute area aloft the $0.0940. On the upside, a breach aloft the $0.1000 attrition will best acceptable accessible the doors for added assets appear the $0.1200 level.
Hourly MACD – The MACD for ADA/USD is affective accurately in the bullish zone.
Hourly RSI – The RSI for ADA/USD is currently placed able-bodied aloft the 50 akin with a bullish angle.
Major Support Level – $0.0940
Major Resistance Level – $0.1000
