THELOGICALINDIAN - Key Highlights
Cardano amount bootless to accretion drive and beneath adjoin the US Dollar and Bitcoin. ADA/USD may conceivably abide to move bottomward appear the $0.1300 level.
Cardano Price Analysis
There were a brace of attempts by ADA amount to move aloft the $0.1600 resistance adjoin the US Dollar. The ADA/USD brace bootless to accretion drive and beneath beneath $0.1550. There was a breach beneath the 23.6% Fib retracement akin of the aftermost beachcomber from the $0.1132 low to $0.1607 high. It opened the doors for added losses beneath the $0.1500 support.
More importantly, there was a breach beneath a key bullish trend band with abutment at $0.1500 on the alternate blueprint of the ADA/USD pair. The brace is now trading able-bodied beneath the $0.1450 abutment and the 100 alternate simple affective average. An actual abutment is abreast the 50% Fib retracement akin of the aftermost beachcomber from the $0.1132 low to $0.1607 aerial at $0.1370. Beneath this, there is a accident of added losses appear the $0.1300 support level. Any added declines may conceivably put a lot of burden on ADA and its amount could abatement appear $0.1250.
The chart indicates that the amount acclimatized beneath a above abutment at $0.1450. If there is an upside move, the burst abutment at $0.1450 ability act as a resistance. Moreover, the $0.1500 akin and the 100 alternate SMA are additionally important hurdles for buyers.
Hourly MACD – The MACD for ADA/USD is now placed heavily in the bearish zone.
Hourly RSI – The RSI for ADA/USD is affective lower and is currently able-bodied beneath the 40 level.
Major Support Level – $0.1350
Major Resistance Level – $0.1450
