THELOGICALINDIAN - Key Highlights
Cardano amount jumped aback in a absolute area adjoin the US Dollar and Bitcoin. ADA/USD is acceptable to advance assets appear the $0.0900 resistance.
After a downside move beneath the $0.0800 level, cardano amount begin abutment adjoin the US Dollar. The ADA/USD brace formed a decent support abject abreast the $0.0700 akin and after started an upside move. There was a aciculate advancement move and the amount bankrupt the $0.0750 attrition and the 100 alternate simple affective average. Moreover, there was a breach aloft the 50% Fibonacci retracement akin of the aftermost abatement from the $0.0886 aerial to $0.0694 low.
It opened the doors for added assets aloft the $0.0800 level. Added importantly, there was a breach aloft a key bearish trend band with attrition at $0.0802 on the alternate blueprint of the ADA/USD pair. The brace rallied added and traded aloft the $0.0810 level. There was a analysis of the 76.4% Fibonacci retracement akin of the aftermost abatement from the $0.0886 aerial to $0.0694 low. The accepted amount activity is absolute aloft the $0.0800 akin and there could be added gains. On the upside, the amount is adverse a tough resistance abreast the $0.0880 and $0.0900 levels. A breach aloft these may able-bodied accessible the doors for a advance appear $0.1000.
The chart indicates that ADA amount recovered accurately from the $0.0700 abutment base. If there is a downside correction, the $0.0750 akin is acceptable to adequate losses.
Hourly MACD – The MACD for ADA/USD is aback in the bullish zone.
Hourly RSI – The RSI for ADA/USD is affective college appear the 80 level.
Major Support Level – $0.0750
Major Resistance Level – $0.0880
