THELOGICALINDIAN - Key Highlights
Cardano amount is placed accurately adjoin the US Dollar against Bitcoin. ADA/USD is acclimation lower, but it could acquisition abutment abreast $0.1000 and $0.0970.
Cardano Price Analysis
After basic a abject aloft the $0.0900 support, cardano amount started a nice upside move adjoin the US Dollar. The ADA/USD brace traded aloft the $0.0940 and $0.0950 attrition levels to move into a bullish zone. Later, buyers acquired drive and pushed the amount aloft the $0.1000 resistance. The amount traded as aerial as $0.1072 and is currently placed able-bodied aloft the 100 alternate simple affective average.
After basic a aerial at $0.1072, the amount started a downside correction. It beneath beneath the 23.6% Fibonacci retracement akin of the aftermost beachcomber from the $0.0939 low to $0.1072 high. However, there are abounding supports aloft the $0.1000 level. There is additionally a key bullish trend band formed with abutment abreast $0.1020 on the alternate blueprint of the ADA/USD pair. Beneath the trend line, the 50% Fibonacci retracement akin of the aftermost beachcomber from the $0.0939 low to $0.1072 aerial is at $0.1006. Therefore, the $0.1000 abutment breadth is acceptable to act as a strong buy zone in the abbreviate term.
The chart indicates that ADA amount is trading calmly aloft $0.1000. On the upside, an antecedent attrition is at $0.1060, aloft which the amount could retest the $0.1072 high. Finally, the abutting above attrition for buyers awaits abreast the $0.1100 level.
Hourly MACD – The MACD for ADA/USD has confused aback in the bearish zone.
Hourly RSI – The RSI for ADA/USD is currently aloof aloft the 50 level.
Major Support Level – $0.1000
Major Resistance Level – $0.1060
