THELOGICALINDIAN - Key Highlights
Cardano amount is surging adjoin the US Dollar, Ethereum and Bitcoin. ADA/USD charcoal in a solid uptrend and it ability advance added higher.
Cardano Price Analysis
After a accessory dip, cardano amount formed a abutment base abreast the $0.1500 akin adjoin the US Dollar. The ADA/USD brace climbed college and bankrupt a brace of important resistances such as $0.1500 and $0.1700. Buyers were able to advance the amount aloft the $0.1850 akin and a aerial was formed at $0.1869. At the moment, the amount is accumulation beneath $0.1850.
It afresh activated the 23.6% Fib retracement akin of the aftermost leg from the $0.1501 low to $0.1869 high. However, losses were bound and the amount begin abutment abreast $0.1780. If there are added slides, the abutting abutment is abreast the $0.1680 level. The declared akin represents the 50% Fib retracement akin of the aftermost leg from the $0.1501 low to $0.1869 high. Moreover, there is a acute bullish trend band in abode with abutment at $0.1600 on the alternate blueprint of the ADA/USD pair. Therefore, dips from the accepted levels are likely to acquisition buyers abreast $0.1780, $0.1680 and $0.1600.
The chart indicates that the amount may abide to bullwork aloft $0.1850. A breach aloft the contempo aerial at $0.1869 could bright the aisle for added assets aloft $0.1900. The abutting stop for buyers will best acceptable be abreast the $0.2000 barrier.
Hourly MACD – The MACD for ADA/USD is placed heavily in the bullish zone.
Hourly RSI – The RSI for ADA/USD is currently in the overbought levels with no assurance of a bottomward correction.
Major Support Level – $0.1780
Major Resistance Level – $0.2025
