THELOGICALINDIAN - Key Highlights
Cardano amount bootless to balance adjoin the US Dollar and Bitcoin. ADA/USD confused and it charcoal at a accident of added losses beneath the $0.1550 level.
Cardano Price Analysis
During the accomplished few sessions, there was an increase in affairs pressure on ADA amount beneath $0.1660 adjoin the US Dollar. The ADA/USD brace bootless to breach the $0.1650 attrition and started a downside move. It bankrupt bottomward and austere the $0.1600 and $0.1550 abutment levels to achieve beneath the 100 alternate simple affective average. Added importantly, the amount acclimatized beneath a key abutment at $0.1550, aperture the doors for added declines.
During the slide, the amount surpassed the aftermost beat low abreast $0.1557. It agency the amount may conceivably analysis the 1.236 Fib addendum akin of the aftermost beachcomber from the $0.1557 low to $0.1708 aerial at $0.1522. However, if sellers abide in action, there is alike a adventitious of added losses appear the $0.1500 level. Below this, the abutting abutment is at $0.1450. On the added hand, if the amount corrects higher, it could analysis the $0.1550 attrition zone. There is additionally a acute bearish trend line formed with attrition abreast $0.1555 on the alternate blueprint of the ADA/USD pair.
The chart indicates the amount is acceptable to move bottomward added appear the $0.1500 handle. The all-embracing amount activity is bearish, which is why any recoveries aloft $0.1555 and $0.1600 may be bound in the abreast term.
Hourly MACD – The MACD for ADA/USD is affective acerb in the bearish zone.
Hourly RSI – The RSI for ADA/USD has accomplished the oversold area with bearish signs.
Major Support Level – $0.1500
Major Resistance Level – $0.1560
