THELOGICALINDIAN - Key Highlights
Cardano amount struggled to authority assets adjoin the US Dollar and Bitcoin. ADA/USD is now in a bearish trend with supports at $0.1200 and $0.1100.
Cardano Price Analysis
There was no upside breach aloft $0.1500 in ADA amount adjoin the US Dollar. The ADA/USD brace alike bootless to achieve aloft the $0.1400 resistance level. As a result, there was a downside acknowledgment and the amount beneath beneath the $0.1300 abutment area. It is now trading able-bodied beneath the $0.1400 axis akin and the 100 alternate simple affective average.
During the contempo slide, the amount bankrupt the 61.8% Fib retracement akin of the aftermost beachcomber from the $0.1197 low to $0.1388 high. It has opened the doors for added losses and the amount is now at a accident of added slides beneath $0.1250. The abutting supports on the downside are apparent abreast $0.1200. Beneath this, the amount may conceivably analysis the $0.1100 level. On the upside, there are many resistances beneath the $0.1400 level. Added importantly, there are two key bearish trend curve formed with attrition at $0.1300 and $0.1350 on the alternate blueprint of the ADA/USD pair.
The chart indicates that the amount is acceptable to face a lot of sellers on the upside amid $0.1300 and $0.1400. Only a acknowledged abutting aloft $0.1400 ability stop the accepted slide. If not, the amount will best acceptable extend declines appear the $0.1100 level.
Hourly MACD – The MACD for ADA/USD is placed heavily in the bearish zone.
Hourly RSI – The RSI for ADA/USD is now able-bodied beneath the 50 akin with bearish signs.
Major Support Level – $0.1200
Major Resistance Level – $0.1350
