THELOGICALINDIAN - Key Highlights
Cardano amount bootless to authority assets and adapted lower adjoin the US Dollar and Bitcoin. ADA/USD could move higher, but it is acceptable to face attrition abreast $0.1050.
Cardano Price Analysis
There was a decent upside move aloft the $0.1000 akin in cardano amount adjoin the US Dollar. The ADA/USD brace traded aloft the $0.1040 and $0.1050 attrition levels. It traded as aerial as $0.1089 area it faced resistance, consistent in a downside correction. The amount beneath and bankrupt the $0.1040 abutment forth with the 100 alternate simple affective average.
During the decline, there was a breach beneath a abutting bullish trend band with abutment abreast $0.1030 on the alternate blueprint of the ADA/USD pair. The brace alike austere the $0.1000 level, but the $0.0950 abutment breadth acted as a barrier for sellers. An intraday low was formed at $0.0969 and the amount adapted aloft $0.1000. It alike confused aloft the 23.6% Fibonacci retracement akin of the contempo bead from the $0.1089 aerial to $0.0969 low. However, the amount is currently disturbing to bright the $0.1010 akin and the 100 alternate SMA. Aloft this, there is a bearish trend band abreast $0.1030. Additionally, the 50% Fibonacci retracement akin of the recent drop from the $0.1089 aerial to $0.0969 low is abreast $0.1029.
The chart indicates that ADA amount could move college appear the $0.1020 and $0.1030 levels. Though, a breach aloft the $0.1030-0.1050 attrition area won’t be easy. On the downside, a breach beneath $0.0950 may advance the amount appear the $0.0900 support.
Hourly MACD – The MACD for ADA/USD is boring affective in the bullish zone.
Hourly RSI – The RSI for ADA/USD is currently abreast the 50 level.
Major Support Level – $0.0950
Major Resistance Level – $0.1050
