THELOGICALINDIAN - Key Highlights
Cardano amount is assuming absolute signs adjoin the US Dollar and Bitcoin. ADA/USD may consolidate in the abbreviate appellation afore a animation aback aloft $0.2250.
Cardano Price Trend
There was a nice upside move aloft the $0.2000 akin in ADA amount adjoin the US Dollar. The amount acclimatized aloft the mentioned $0.2000 hurdle, which is a absolute sign. It alike traded aloft the $0.2300 akin afresh afore adverse sellers. A concise top was formed at $0.2351 afore the amount started a downside correction. It beneath and bankrupt the 23.6% Fib retracement akin of the aftermost leg from the $0.1956 low to $0.2351 high.
Moreover, there was afresh a breach beneath a concise ascendance approach with abutment at $0.2200 on the alternate blueprint of the ADA/USD pair. The brace beneath beneath the $0.2150 support. More importantly, there was a breach beneath the 50% Fib retracement akin of the aftermost leg from the $0.1956 low to $0.2351 high. However, there are abounding supports on the downside abreast the $0.2060 akin and the 100 alternate simple affective average. Therefore, if the amount extends the accepted decline, there could be a strong affairs interest abreast the $0.2050-0.2060 zone.
The chart suggests that the amount is able-bodied accurate aloft $0.2060, and it could animation aback afterwards the accepted correction. On the upside, an antecedent attrition is abreast the $0.2250 level, followed by $0.2350. Aloft the declared $0.2350, the amount may analysis the $0.2500 barrier.
Hourly MACD – The MACD for ADA/USD is hardly in the bearish zone.
Hourly RSI – The RSI for ADA/USD is now beneath the 55 level.
Major Support Level – $0.2050
Major Resistance Level – $0.2350
