THELOGICALINDIAN - Key Highlights
Cardano amount is currently beneath burden adjoin the US Dollar and Bitcoin. ADA/USD may actual higher, but it will best acceptable face hurdles about $0.2500.
Cardano Price Analysis
There was no aloft accretion aloft $0.2600 in ADA amount adjoin the US Dollar. The amount topped about the $0.2615 akin and the 100 alternate simple affective average. A fresh bearish wave started and the amount beneath beneath the $0.2500 and $0.2400 abutment levels. It traded abutting to the $0.2300 akin and a low was formed at $0.2304. A abject was formed and the amount is currently acclimation college appear $0.2450.
At the moment, the amount is testing the 23.6% Fib retracement akin of the aftermost abatement from the $0.2616 aerial to $0.2304 low. However, there are abounding resistances on the upside about $0.2500. There is additionally a key bearish trend band in abode with attrition at $0.2450 on the alternate blueprint of the ADA/USD pair. Furthermore, the 50% Fib retracement akin of the aftermost abatement from the $0.2616 aerial to $0.2304 low is positioned abreast $0.2460. Therefore, it seems like the amount is acceptable to face a strong barrier abreast $0.2450-0.2500.
The chart indicates that the amount is boring convalescent from $0.2300. If it fails to move aloft the $0.2500 resistance, it could abatement already afresh appear $0.2300. Below the declared $0.2300 support, the amount may conceivably move appear the $0.2000 handle. On the cast side, aloft $0.2500, the amount ability ascend appear $0.2750.
Hourly MACD – The MACD for ADA/USD is about to move into the bullish zone.
Hourly RSI – The RSI for ADA/USD is able-bodied beneath the 50 level.
Major Support Level – $0.2300
Major Resistance Level – $0.2500
