THELOGICALINDIAN - Key Highlights
Cardano amount acquired fabricated acceptable assets adjoin the US Dollar and Bitcoin. ADA/USD is now advancing for an upside breach aloft the $0.3600 attrition level.
Cardano Price Resistance
After a decent downside correction, ADA amount begin abutment abreast $0.3200 adjoin the US Dollar. The mentioned $0.3200 acted as a able barrier for sellers and adequate added declines. Moreover, the 61.8% Fib retracement akin of the aftermost leg from the $0.2810 beat low to $0.3880 beat aerial additionally acted as a support. The amount formed a abutment abject at $0.3200 and started an upside move.
It traded aloft 23.6% Fib retracement akin of the aftermost abatement from the $0.3881 aerial to $0.3195 low. More importantly, it bankrupt the $0.3400 attrition and the 100 hourly simple affective average. At the moment, the amount is placed accurately in a bullish area aloft $0.3400 and it could extend gains. A breach aloft the $0.3600 attrition is bare for a advance aback appear the $0.3800 level. On the downside, there is a acute bullish trend band basic with abutment at $0.3350 on the alternate blueprint of the ADA/USD pair.
The chart indicates that the brace charcoal accurate on the downside abreast $0.3350. Below the mentioned $0.3350 level, the abutting aloft abutment and a axis akin is at $0.3200. As continued as the amount is aloft the $0.3200 support, it could abide to move college in the bullish area appear $0.3800.
Hourly MACD – The MACD for ADA/USD is currently collapsed in the bullish zone.
Hourly RSI – The RSI for ADA/USD is currently positioned aloft the 50 level.
Major Support Level – $0.3350
Major Resistance Level – $0.3600
