THELOGICALINDIAN - Key Highlights
Cardano amount is boring ascent adjoin the US Dollar and Bitcoin. ADA/USD could abide to move college appear the $0.1100 akin in the abreast term.
Cardano Price Analysis
There was a downside correction afresh in Cardano amount from the $0.1104 aerial adjoin the US Dollar. The ADA/USD brace beneath and bankrupt the $0.1050 abutment level. However, buyers appeared abreast the $0.1010 akin and the 100 alternate simple affective average. As a result, the amount started a beginning advancement move and traded aloft the 23.6% Fibonacci retracement akin of the bead from the $0.1104 aerial to $0.1099 low.
The amount alike confused aloft the $0.1050 with bullish moves. However, the upside move was capped by the $0.1070 zone. It is the 61.8% Fibonacci retracement akin of the bead from the $0.1104 aerial to $0.1099 low. Moreover, there is a abutting attrition trend band in abode with accepted hurdle at $0.1080 on the alternate blueprint of the ADA/USD pair. On the downside, the brace is testing the $0.1050 abutment and the 100 alternate SMA. Additionally, there is a above bullish trend band in abode with abutment at $0.1050 on the aforementioned chart.
The chart indicates that ADA amount is acceptable to move college appear $0.1080 as continued as it is aloft $0.1050 and $0.1020. Aloft $0.1080, the amount may conceivably analysis the $0.1100 attrition area. On the cast side, a breach beneath $0.1020 could advance the amount appear the $0.1000 support.
Hourly MACD – The MACD for ADA/USD is boring affective in the bearish zone.
Hourly RSI – The RSI for ADA/USD is currently abreast the 50 level.
Major Support Level – $0.1050
Major Resistance Level – $0.1100
