THELOGICALINDIAN - Key Highlights
Cardano amount is accepting bullish drive adjoin the US Dollar and Bitcoin. ADA/USD may abide to acceleration as continued as it is aloft the $0.2480-0.2500 abutment zone.
Cardano Price Analysis
After a aloft decline, ADA amount found support aloft the $0.2300 akin adjoin the US Dollar. A low was formed at $0.2304 afore the amount started an upside correction. It acquired bullish drive and confused aloft the $0.2400 and $0.2500 attrition levels. The amount traded with a absolute bent back there was a abutting aloft the $0.2400 axis akin and the 100 alternate simple affective average.
During the upside move, the amount additionally bankrupt a bearish trend band with attrition at $0.2450 on the alternate blueprint of the ADA/USD pair. Moreover, there was a bright breach aloft the 50% Fib retracement akin of the last drop from the $0.2756 aerial to $0.2304 low. These are absolute signs and suggests that the amount may abide to move higher. On the downside, there is a above bullish trend band formed with abutment at $0.2480 on the aforementioned chart. Additionally, the $0.2500 akin is additionally a appropriate support, followed by $0.2480 and the 100 alternate SMA at $0.2450.
The chart indicates that the amount has to move aloft the $0.2600 attrition to accretion pace. Furthermore, a abutting aloft the 61.8% Fib retracement akin of the aftermost bead from the $0.2756 aerial to $0.2304 low will best acceptable advance the amount appear the $0.2750 beat high.
Hourly MACD – The MACD for ADA/USD is mostly collapsed in the bullish zone.
Hourly RSI – The RSI for ADA/USD is able-bodied aloft the 50 level.
Major Support Level – $0.2480
Major Resistance Level – $0.2600
