THELOGICALINDIAN - Key Highlights
Cardano amount is disturbing to balance adjoin the US Dollar and Bitcoin. ADA/USD has to break aloft the $0.1400 abutment to abstain declines appear $0.1200.
Cardano Price Support
There was a beginning alpha to a downside beachcomber from the $0.1750 barrier in ADA amount adjoin the US Dollar. The amount traded lower and bankrupt a few important abutment levels such as $0.1600 and $0.1500. During the slide, the amount absurd the $0.1450 abutment and alike acclimatized beneath the 100 alternate simple affective average. These all are abrogating signs and credibility added declines beneath $0.1500.
The contempo low was formed at $0.1401 afore the amount started trading in a range. It activated the 23.6% Fib retracement akin of the aftermost bead from the $0.1764 aerial to $0.1401 low. However, it bootless to move aloft the $0.1480 resistance. On the upside, there is a concise abutting bearish trend band basic with attrition abreast $0.1450 on the alternate blueprint of the ADA/USD pair. A breach aloft the trend band and $0.1480 akin is bare for a decent recovery.
The abutting hurdle on the upside aloft $0.1480 is the 50% Fib retracement akin of the aftermost bead from the $0.1764 aerial to $0.1401 low at $0.1528. On the downside, the $0.1400 akin is a acute support. A breach beneath $0.1400 could burn a downside acknowledgment appear $0.1200 in the abreast term.
Hourly MACD – The MACD for ADA/USD is placed in the bullish zone.
Hourly RSI – The RSI for ADA/USD is currently able-bodied beneath the 50 level.
Major Support Level – $0.1400
Major Resistance Level – $0.1500
Charts address – Trading View
