THELOGICALINDIAN - Key Highlights
Cardano amount is aback key barriers adjoin the US Dollar and Bitcoin. ADA/USD charge breach the $0.2150 attrition for added upsides in the abreast term.
Cardano Price Analysis
After a aloft abatement beneath the $0.1800 level, ADA amount found abutment abreast $0.1700 adjoin the US Dollar. The amount traded as low as $0.1708 and after it started an upside move. It traded college and bankrupt the $0.1850 and $0.1900 attrition levels. There was additionally a breach aloft the 50% Fib retracement akin of the aftermost abatement from the $0.2285 aerial to $0.1708 low.
Moreover, there was a breach beneath a key bearish trend band with attrition at $0.19000 on the alternate blueprint of the ADA/USD pair. The brace acclimatized aloft the $0.2000 akin and the 100 alternate simple affective average. However, the upside move was capped by addition above barrier abreast $0.2150 and $0.2160. A aerial was formed at $0.2168 afore the amount biconcave beneath $0.2100. On the downside, an antecedent abutment is abreast the 38.2% Fib retracement akin of the aftermost beachcomber from the $0.1708 low to $0.2168 high.
The chart indicates that the burst attrition abreast $0.1900 is acceptable to act as a able support. It additionally represents the 50% Fib retracement akin of the aftermost beachcomber from the $0.1708 low to $0.2168 high. Therefore, any dips from the accepted levels abide accurate aloft $0.1900. On the upside, a breach aloft $0.2150 could advance the amount aloft $0.2300.
Hourly MACD – The MACD for ADA/USD is boring affective aback in the bearish zone.
Hourly RSI – The RSI for ADA/USD is now able-bodied aloft the 50 level.
Major Support Level – $0.2024
Major Resistance Level – $0.2150
