THELOGICALINDIAN - Key Highlights
Cardano amount is beneath a lot of bearish burden adjoin the US Dollar and Bitcoin. ADA/USD charge break aloft the $0.1500 akin to accommodate losses in the abreast term.
Cardano Price Analysis
There were abundant slides in ADA amount this anniversary as it comatose beneath the $0.2000 abutment adjoin the US Dollar. It followed bitcoin and Ethereum and comatose added than 25%. It alike confused a few credibility beneath the $0.1500 akin afore buyers appeared. A low was formed abreast the $0.1460 akin and the amount adapted higher. It confused aloft the 23.6% Fib retracement akin of the aftermost abatement from the $0.1815 aerial to $0.1459 low.
However, there are abounding barriers on the upside abreast the $0.1600 and $0.1650 levels. There is additionally a key bearish trend band formed with attrition at $0.1650 on the alternate blueprint of the ADA/USD pair. The aforementioned trend band attrition is abutting to the antecedent axis akin at $0.1640 level. Moreover, the 50% Fib retracement akin of the aftermost abatement from the $0.1815 aerial to $0.1459 low is additionally at $0.1635 to prevent gains. Therefore, it seems like there is a aloft barrier basic for buyers abreast the $0.1650 level. A abutting aloft this is bare for a accretion appear the $0.1850 level.
The chart indicates the amount is beneath a lot of burden beneath $0.2000. It may actual higher, but it charcoal at a accident of added losses beneath $0.1600.
Hourly MACD – The MACD for ADA/USD is boring affective in the bullish zone.
Hourly RSI – The RSI for ADA/USD is still able-bodied beneath the 50 level.
Major Support Level – $0.1500
Major Resistance Level – $0.1650
