THELOGICALINDIAN - Key Highlights
Cardano amount beneath heavily adjoin the US Dollar and Bitcoin. ADA/USD is rebounding, but there are abounding hurdles on the upside abreast $0.1000.
Cardano Price Analysis
In one of the antecedent analyses, we discussed that cardano amount could drop appear the $0.1000 akin adjoin the US Dollar. The ADA/USD brace did move bottomward acutely and bankrupt the $0.1000 abutment area. It alike traded beneath the $0.090 akin and formed a low at $0.0844. Later, the amount started an upside alteration and confused aloft the $0.0900 resistance. It additionally bankrupt the 23.6% Fib retracement akin of the aftermost abatement from the $0.1146 aerial to $0.0844 low.
However, the amount is now branch appear a acute attrition abreast $0.1000, which was a abutment earlier. Moreover, the 50% Fib retracement akin of the aftermost abatement from the $0.1146 aerial to $0.0844 low is positioned abreast the $0.1000 akin to act as a hurdle. Aloft $0.1000, this week’s accent cogent bearish trend band is still alive with attrition abreast $0.1100 on the alternate blueprint of the ADA/USD pair. Therefore, there are acutely many resistances on the upside abreast the $0.1000 and $0.1100 levels. A breach aloft this aftermost could accessible the doors for a advance appear the $0.1250 akin in the abreast term.
The chart indicates that ADA amount has acceptable completed a alteration beachcomber abreast $0.1000. It could abatement already afresh aback appear the $0.0900 akin in the abbreviate term.
Hourly MACD – The MACD for ADA/USD is placed in the bullish zone.
Hourly RSI – The RSI for ADA/USD is affective lower appear the 50 level.
Major Support Level – $0.0900
Major Resistance Level – $0.1100
