THELOGICALINDIAN - Key Highlights
Cardano amount continued losses adjoin the US Dollar and Bitcoin. ADA/USD charcoal at a accident of added losses appear the $0.0700 level.
After basic a aerial abreast the $0.0770 level, cardano amount started a downside move adjoin the US Dollar. The ADA/USD brace beneath and bankrupt the $0.0750 and $0.0740 abutment levels. There was additionally a abutting beneath the $0.0750 akin and the 100 alternate simple affective average. The abatement was such that the amount bankrupt the $0.0742 abutment as able-bodied and traded as low as $0.0729 recently.
It is currently accumulation losses aloft $0.0730. An antecedent attrition is abreast the $0.0740 akin and the 23.6% Fibonacci retracement akin of the aftermost abatement from the $0.0770 aerial to $0.0729 low. There is additionally an important bearish trend band formed with attrition at $0.0740 on the alternate blueprint of the ADA/USD pair. Aloft the trend line, the 100 alternate SMA is positioned abreast $0.0742. Therefore, a breach aloft the $0.0740 and $0.0742 resistances won’t be easy. Aloft the 100 alternate SMA, the amount could balance appear the $0.0754 and the 61.8% Fibonacci retracement akin of the aftermost abatement from the $0.0770 aerial to $0.0729 low.
The chart indicates that ADA amount is acutely afterward a bearish anatomy beneath $0.0750. If there is a downside breach beneath the contempo low, the amount ability bright the $0.0720 support. The abutting capital abutment for buyers is abreast the $0.0700 level.
Hourly MACD – The MACD for ADA/USD is boring affective in the bullish zone.
Hourly RSI – The RSI for ADA/USD is aloof abreast the 50 level.
Major Support Level – $0.0720
Major Resistance Level – $0.0742
