THELOGICALINDIAN - Key Highlights
Cardano amount is currently acclimation lower adjoin the US Dollar and Bitcoin. ADA/USD charge authority the $0.1450 abutment to resume its upside move aback aloft $0.1500.
Cardano Price Analysis
During the accomplished three days, there were decent gains aloft $0.1500 in ADA amount adjoin the US Dollar. The ADA/USD brace traded aloft the $0.1600 akin and formed a aerial at $0.1610. Later, a downside alteration was accomplished and the amount beneath beneath the $0.1500 abutment area. There was additionally a breach beneath the 50% Fib retracement akin of the aftermost leg from the $0.1345 low to $0.1610 high.
However, the amount is now trading abreast a above abutment at $0.1450, which was a attrition earlier. There is additionally a above bullish trend band formed with abutment at 0.1450 on the alternate blueprint of the ADA/USD pair. Moreover, the 61.8% Fib retracement akin of the aftermost leg from the $0.1345 low to $0.1610 aerial is at $0.1446. Finally, the 100 alternate simple affective boilerplate is positioned abreast the trend band and $0.1450. Therefore, the trend band and the $0.1450 support holds a lot of importance. A breach beneath this could advance the amount aback appear the $0.1300 level.
The chart indicates that the amount is acceptable to break aloft the $0.1450 support. On the upside, it has to move aloft the $0.1500 attrition already afresh to resume its upside move in the abreast term.
Hourly MACD – The MACD for ADA/USD is currently affective in the bearish zone.
Hourly RSI – The RSI for ADA/USD is currently abreast the 40 akin with aloof signs.
Major Support Level – $0.1450
Major Resistance Level – $0.1500
