THELOGICALINDIAN - Key Highlights
Cardano amount continued its accelerate adjoin the US Dollar and Bitcoin. ADA/USD charcoal at a accident of added losses appear the $0.1100 and $0.1000 levels.
Cardano Price Analysis
There was a accessory upside move aloft the $0.1250 akin afresh in ADA amount adjoin the US Dollar. The ADA/USD brace traded appear $0.1300, but it failed to accretion upside momentum. As a result, there was a downside acknowledgment and the amount beneath beneath the $0.1200 support. The bead was such that the amount traded to a new account low beneath $0.1140 and is currently trading able-bodied beneath the 100 alternate simple affective average.
A low was formed at $0.1132 and the amount is currently acclimation higher. An antecedent attrition is abreast the 38.2% Fib retracement akin of the aftermost abatement from the $0.1287 aerial to $0.1132 low. However, the best important resistance is abreast the $0.1210 level. There is additionally a acute bearish trend band formed with attrition at $0.1210 on the alternate blueprint of the ADA/USD pair. It coincides with the 50% Fib retracement akin of the aftermost abatement from the $0.1287 aerial to $0.1132 low. Therefore, any upside move from the accepted levels is acceptable to face sellers abreast $0.1210.
The chart indicates that the amount is acutely in a above declivity beneath $0.1500. More losses are acceptable appear the $0.1100 and $0.1000 abutment levels in the abreast term.
Hourly MACD – The MACD for ADA/USD is accepting clip in the bearish zone.
Hourly RSI – The RSI for ADA/USD is abreast the oversold levels with no above assurance of a recovery.
Major Support Level – $0.1100
Major Resistance Level – $0.1210
