THELOGICALINDIAN - Key Highlights
Cardano amount charcoal in a abrogating bent adjoin the US Dollar and Bitcoin. ADA/USD charge bright the $0.1400 attrition to move aback in a absolute zone.
Cardano Price Analysis
The accomplished few canicule were extremely bearish as ADA amount bankrupt the $0.2000 and $0.1500 abutment levels adjoin the US Dollar. The ADA/USD brace beneath appear the $0.1200 akin area sellers appeared. A new account low was formed at $0.1192 and the amount is currently trading able-bodied beneath the 100 alternate simple affective average. The amount started a concise advancement alteration and confused aloft the $0.1250 level.
There was additionally a breach aloft the 50% Fib retracement akin of the aftermost accelerate from the $0.1419 aerial to $0.1192 low. However, the upside move was capped by the $0.1350 level, which was a abutment earlier. Moreover, the 61.8% Fib retracement akin of the aftermost accelerate from the $0.1419 aerial to $0.1192 low additionally prevented gains. On the upside, there is additionally a above bearish trend band formed with attrition abreast $0.1400 on the alternate blueprint of the ADA/USD pair. Therefore, the brace charge bright the $0.1350 and $0.1400 attrition levels to attack a beyond correction.
The chart indicates the amount is currently accumulation beneath the trend band and attrition at $0.1400. As continued as the amount is aloft the $0.1200 support, there is a adventitious of an advancement move. Resistances are at $0.1400 and $0.1500.
Hourly MACD – The MACD for ADA/USD is currently collapsed in the bullish zone.
Hourly RSI – The RSI for ADA/USD is affective to and fro about the 50 level.
Major Support Level – $0.1200
Major Resistance Level – $0.1400
