THELOGICALINDIAN - Key Highlights
Cardano amount is disturbing to accretion absorption adjoin the US Dollar and Bitcoin. ADA/USD may actual lower appear the $0.1000 abutment zone.
Cardano Price Analysis
After closing aloft the $0.1000 support, cardano amount traded added college adjoin the US Dollar. The ADA/USD brace confused aloft the $0.1050 attrition and alike climbed aloft $0.1100 additional the 100 alternate simple affective average. The amount traded as aerial as $0.1103 and after started a downside correction. During the decline, the amount bankrupt the $0.1050 abutment and the 100 alternate SMA.
Moreover, there was a breach beneath a key bullish trend band with abutment at $0.1035 on the alternate blueprint of the ADA/USD pair. The brace is now trading beneath the 50% Fibonacci retracement akin of the aftermost beachcomber from the $0.0968 low to $0.1103 high. It seems like the amount has confused into a concise bearish zone and it could barter beneath $0.1030. The abutting above abutment is abreast the $0.1000 level. It additionally represents the 76.4% Fibonacci retracement akin of the aftermost beachcomber from the $0.0968 low to $0.1103 high. Therefore, if the amount declines further, the $0.1000 abutment is acceptable to authority losses in the abreast term.
The chart indicates that ADA amount is placed accurately aloft $0.1000 and $0.0980. There could be losses, but the all-embracing anatomy is absolute aloft $0.0980. On the upside, resistances are apparent abreast the $0.1060 and $0.1100 levels.
Hourly MACD – The MACD for ADA/USD is hardly placed in the bearish zone.
Hourly RSI – The RSI for ADA/USD is currently beneath the 50 level.
Major Support Level – $0.0980
Major Resistance Level – $0.1100
