THELOGICALINDIAN - Key Highlights
Cardano amount bootless to move college and beneath adjoin the US Dollar and Bitcoin. ADA/USD is acceptable to extend the accepted abatement appear the $0.1505 level.
Cardano Price Analysis
This accomplished week, there was a accessory upside accretion from the $0.1460 beat low in ADA amount adjoin the US Dollar. The amount climbed aloft the $0.1500 and $0.1600 attrition levels, but it bootless to authority gains. A top was formed about the $0.1740 akin afore the amount started a downside move. It beneath and bankrupt the $0.1650 and $0.1600 abutment levels to achieve beneath the 100 alternate simple affective average. There was additionally a breach beneath the 50% Fib retracement akin of the aftermost beachcomber from the $0.1462 low to $0.1746 high.
At the moment, the amount is trading able-bodied beneath the $0.1650 akin and the 100 alternate SMA. It is testing the 61.8% Fib retracement akin of the aftermost beachcomber from the $0.1462 low to $0.1746 high. A breach beneath the $0.1550 abutment akin may able-bodied alarm for more slides appear the $0.1505 akin in the abreast term. On the upside, there is a acute bearish trend band basic with attrition at $0.1600 on the alternate blueprint of the ADA/USD pair.
The chart indicates the amount could extend declines as continued as it is beneath $0.1650 and the 100 alternate SMA. The best important abutment on the downside is at $0.1505 area buyers may put to test.
Hourly MACD – The MACD for ADA/USD is placed accurately in the bearish zone.
Hourly RSI – The RSI for ADA/USD is crumbling appear the 20 level.
Major Support Level – $0.1505
Major Resistance Level – $0.1600
