THELOGICALINDIAN - Key Highlights
Cardano amount is placed in a bullish area adjoin the US Dollar and Bitcoin. ADA/USD has to move accomplished $0.1800 to accretion absorption in the abreast term.
Cardano Price Analysis
There was a bearish acknowledgment abreast the $0.1800 attrition area in cardano amount adjoin the US Dollar. The ADA/USD brace beneath beneath $0.1700 and traded abutting to the $0.1600 support. A low was formed at $0.1609 afore the amount recovered sharply. There was a abutting aloft the $0.1700 akin and the 100 alternate simple affective average. However, the amount faced a above attrition abreast $0.17800.
Moreover, there is a tiny abutting bearish trend band with attrition at $0.1780 on the alternate blueprint of the ADA/USD pair. The brace is currently acclimation lower and is trading beneath the 23.6% Fib retracement akin of the aftermost beachcomber from the $0.1609 low to $0.1781 high. On the downside, there are abounding supports abreast the $0.1700 and $0.1680 levels. Additionally, the 50% Fib retracement akin of the aftermost beachcomber from the $0.1609 low to $0.1781 aerial is additionally abreast $0.1700 to act as a support.
The chart indicates that the amount may conceivably breach the $0.1780 and $0.1800 attrition levels. Above $0.1800, the amount could move appear the abutting above hurdle abreast $0.2000. On the cast side, if the amount break the $0.1700 abutment and the 100 alternate SMA, there could be added declines appear the $0.1600 level.
Hourly MACD – The MACD for ADA/USD is hardly placed in the bullish zone.
Hourly RSI – The RSI for ADA/USD is affective lower appear the 50 level.
Major Support Level – $0.1700
Major Resistance Level – $0.1800
