THELOGICALINDIAN - Key Highlights
Cardano amount is beneath burden adjoin the US Dollar and Bitcoin. ADA/USD is acceptable to retest the $0.1400 abutment if sellers abide in action.
Cardano Price Analysis
There was a beginning downside move accomplished from the $0.1580 aerial in ADA amount adjoin the US Dollar. The ADA/USD brace beneath beneath the $0.1500 abutment and confused into a bearish zone. An boilerplate aerial was formed at $0.1494 and the amount is currently affective lower. It afresh bankrupt the $0.1460 abutment and the 100 alternate simple affective average. Moreover, there was a breach beneath the 50% Fib retracement akin of the aftermost beachcomber from the $0.1375 low to $0.1494 high.
It seems like the amount may conceivably extend the accepted abatement beneath the $0.1420 level. An actual abutment is about the 76.4% Fib retracement akin of the aftermost beachcomber from the $0.1375 low to $0.1494 high. Beneath this, the $0.1400 support could stop the decline. Finally, if the amount declines further, it could revisit the aftermost low of $0.1375. In the abbreviate term, an advancement move is acceptable to face resistances abreast the $0.1450 akin and the 100 alternate SMA. Moreover, there is a key bearish trend band formed with attrition at $0.1450 on the alternate blueprint of the ADA/USD pair.
The chart indicates that the amount looks set for an continued correction. However, the $0.1400 abutment holds a lot of accent in the abbreviate term.
Hourly MACD – The MACD for ADA/USD is now affective in the bearish zone.
Hourly RSI – The RSI for ADA/USD is currently able-bodied beneath the 50 level.
Major Support Level – $0.1400
Major Resistance Level – $0.1460
