THELOGICALINDIAN - Key Highlights
Cardano amount is acclimation lower adjoin the US Dollar and Bitcoin. ADA/USD is branch appear a acute buy area aloft $0.3500, which is a able support.
Cardano Price Support
There was a decent upside move in ADA amount aloft the $0.3700 akin adjoin the US Dollar. The amount accelerated assets and traded as aerial as $0.3883. Later, a downside alteration was accomplished and the amount beneath beneath $0.3800. It additionally confused beneath the 23.6% Fib retracement akin of the aftermost beachcomber from the $0.3196 low to $0.3883 high. However, there are abounding supports on the downside, starting with $0.3600.
More importantly, there is a cogent bullish trend band in abode with abutment at $0.3550 on the alternate blueprint of the ADA/USD pair. The trend band abutment and $0.3600 is abutting to the 100 alternate simple affective average. Additionally, the 50% Fib retracement akin of the aftermost beachcomber from the $0.3196 low to $0.3883 aerial is positioned about the $0.3540 level. Therefore, it seems like the accepted alteration may acquisition a able affairs absorption abreast the $0.3500-0.3550 levels in the abreast term. A downside breach beneath $0.3500 could advance the amount aback in a bearish zone in the abbreviate term.
The chart suggests that the amount is able-bodied accurate abreast $0.3550. There are aerial affairs of it bouncing aback aloft the $0.3700 level. On the upside, the $0.3800 and $0.3840 levels are important resistances, followed by $0.4000.
Hourly MACD – The MACD for ADA/USD is hardly abrogating in the bearish zone.
Hourly RSI – The RSI for ADA/USD is currently able-bodied beneath the 50 level.
Major Support Level – $0.3550
Major Resistance Level – $0.3840
