THELOGICALINDIAN - Key Highlights
Cardano amount is affective accurately in a bullish area adjoin the US Dollar and Bitcoin. ADA/USD is acceptable to resume its uptrend already the accepted alteration is over.
Cardano Price Analysis
There were solid gains in ADA amount from the $0.1900 beat low adjoin the US Dollar. The amount surged college and bankrupt abounding attrition levels such as $0.2000 and $0.2080. More importantly, there was a breach aloft a acute attrition at $0.2150. It traded as aerial as $0.2280 afore sellers appeared. It is currently acclimation lower and confused beneath the $0.2250 level.
There was a breach beneath the 23.6% Fib retracement akin of the aftermost beachcomber from the $0.1966 low to $0.2280 high. However, there are abounding supports on the downside on the way up to $0.2000. An antecedent abutment is at $0.2150, which was a resistance earlier and now a above support. Beneath $0.2150, the 50% Fib retracement akin of the aftermost beachcomber from the $0.1966 low to $0.2280 aerial is abreast $0.2120. Moreover, there is a key bullish trend band basic with abutment at $0.2080 on the alternate blueprint of the ADA/USD pair.
The chart indicates that the amount may actual a few credibility in the abreast appellation appear $0.2150 and $0.2080. Later, already the alteration is over, it is acceptable to resume its upside move. On the upside, a breach aloft $0.2280 may conceivably bright the aisle for added assets appear the $0.2500 level.
Hourly MACD – The MACD for ADA/USD is currently placed in the bearish zone.
Hourly RSI – The RSI for ADA/USD is assuming absolute signs and is currently abreast the 50 level.
Major Support Level – $0.2080
Major Resistance Level – $0.2280
