THELOGICALINDIAN - Key Highlights
Cardano amount continued losses beneath key supports adjoin the US Dollar and Bitcoin. ADA/USD is in a bearish area with supports at $0.1350 and $0.1250.
Cardano Price Analysis
There was no aloft recovery in cardano amount aloft the $0.1660 akin adjoin the US Dollar. The ADA/USD brace beneath and bankrupt a few important supports like $0.1600 and $0.1550. The amount alike austere the $0.1400 abutment and is currently trading able-bodied beneath the 100 alternate simple affective average. The contempo low was formed at $0.1356 and the amount is currently accumulation gains.
In the abbreviate term, the amount may conceivably actual a few credibility aloft the $0.1380 level. An antecedent attrition is the 23.6% Fib retracement akin of the aftermost abatement from the $0.1641 aerial to $0.1356 low. There is additionally a above bearish trend band in abode with attrition at $0.1420 on the alternate blueprint of the ADA/USD pair. Aloft the trend band resistance, the abutting hurdle is abreast $0.1500. It coincides with the 50% Fib retracement akin of the aftermost abatement from the $0.1641 aerial to $0.1356 low. Aloft this, the amount could face a tough challenge abreast the antecedent abutment at $0.1550.
The chart indicates that the amount is in a declivity beneath $0.1550. If it fails to balance aloft $0.1420 and $0.1450, it may conceivably abatement further. Beneath the contempo low of $0.1356, the amount is acceptable to appointment the abutting abutment at $0.1250.
Hourly MACD – The MACD for ADA/USD is mostly placed in the bearish zone.
Hourly RSI – The RSI for ADA/USD is able-bodied beneath the 40 akin with a bearish angle.
Major Support Level – $0.1350
Major Resistance Level – $0.1500
