THELOGICALINDIAN - Key Highlights
Cardano amount is accepting drive adjoin the US Dollar and Bitcoin. ADA/USD is acceptable to move added college aloft the $0.1800 akin in the abreast term.
Cardano Price Analysis
After a aloft downside correction, cardano amount found support aloft the $0.1500 akin adjoin the US Dollar. The ADA/USD brace formed a low at $0.1542 and after started an upside move. It traded aloft the $0.1600 attrition to alpha a appropriate recovery. The amount additionally bankrupt the 23.6% Fib retracement akin of the aftermost bead from the $0.1970 aerial to $0.1542 low.
Moreover, there was a breach aloft a acute bearish trend band with attrition at $0.1650 on the alternate blueprint of the ADA/USD pair. The brace additionally succeeded in clearing aloft the $0.1700 akin and the 100 alternate simple affective average. It has opened the doors for more gains aloft $0.1800 in the abreast term. An actual attrition is at $0.1800 and the 61.8% Fib retracement akin of the aftermost bead from the $0.1970 aerial to $0.1542 low. Should there be a breach aloft these, the amount could advance aback appear the $0.1900 and $0.1950 levels.
The chart indicates that the amount is boring affective college and is able-bodied accurate abreast $0.1700. If the amount corrects lower from the accepted levels, it may conceivably acquisition abutment abreast $0.1710 and the 100 alternate SMA. There is additionally a bullish trend band with abutment at $0.1710 on the aforementioned chart.
Hourly MACD – The MACD for ADA/USD is boring affective in the bullish zone.
Hourly RSI – The RSI for ADA/USD is currently able-bodied aloft the 50 level.
Major Support Level – $0.1700
Major Resistance Level – $0.1800
