THELOGICALINDIAN - Key Highlights
Cardano amount struggled to accretion bullish drive adjoin the US Dollar and Bitcoin. ADA/USD bankrupt a key abutment and it is acceptable to retest the $0.0720 support.
After declining to breach the $0.0880 resistance, cardano amount started a downside move adjoin the US Dollar. The ADA/USD brace beneath afresh and bankrupt the $0.0850 abutment level. Later, there was a breach and abutting beneath the $0.0820 abutment and the 100 alternate simple affective average. The amount traded appear the $0.0780 akin and formed a new intraday low at $0.0784.
At the moment, the amount is acclimation college and is testing the 23.6% Fibonacci retracement akin of the aftermost abatement from the $0.0871 aerial to $0.0784 low. It may actual a few added credibility appear the $0.0820 akin in the abreast term, which is acceptable to act as a resistance. Additionally, the 50% Fibonacci retracement akin of the aftermost abatement from the $0.0871 aerial to $0.0784 low is positioned at $0.0827. Added importantly, there is a key bearish trend line in abode with attrition at $0.0830 on the alternate blueprint of the ADA/USD pair.
The chart indicates that ADA amount acclimatized beneath the key $0.0820 support. If sellers abide in action, there could be added declines appear the $0.0770 support. Beneath this, the abutting aloft abutment is at $0.0720. To recover, the amount has to move aloft the $0.0820 and the trend band resistance.
Hourly MACD – The MACD for ADA/USD is mostly placed in the bearish zone.
Hourly RSI – The RSI for ADA/USD is currently able-bodied beneath the 40 level.
Major Support Level – $0.0720
Major Resistance Level – $0.0830
