THELOGICALINDIAN - Key Highlights
Cardano amount beneath essentially adjoin the US Dollar and Bitcoin. ADA/USD is acceptable to abatement added appear the abutting above abutment at $0.2200.
Cardano Price Analysis
There was no upside break aloft the $0.2800 and $0.2820 attrition levels in ADA amount adjoin the US Dollar. The amount started a downside move and beneath beneath the $0.2700 and $0.2600 abutment levels. There was additionally a breach beneath the 61.8% Fib retracement akin of the aftermost beachcomber from the $0.2330 low to $0.2840 high. It opened the doors for added declines and the amount acclimatized beneath $0.2600.
The best important move was a breach beneath an important bullish trend band with abutment at $0.2650 on the alternate blueprint of the ADA/USD pair. The brace is now trading able-bodied beneath the $0.2500 akin and the 100 alternate simple affective average. It traded as low as $0.2383 low and is currently accumulation losses. On the upside, an antecedent attrition is abutting to the 23.6% Fib retracement akin of the aftermost bead from the $0.2763 aerial to $0.2383 low. However, the most important hurdle is abreast $0.2600 and the 100 alternate SMA.
The chart indicates that 50% Fib retracement akin of the aftermost bead from the $0.2763 aerial to $0.2383 low is additionally acceptable to act as a attrition abreast $0.2580. On the downside, a breach beneath the $0.2380 akin may advance the amount appear the $0.2300 and $0.2200 abutment levels in the abreast term.
Hourly MACD – The MACD for ADA/USD is currently in the bearish zone.
Hourly RSI – The RSI for ADA/USD is in the oversold levels.
Major Support Level – $0.2200
Major Resistance Level – $0.2600
