THELOGICALINDIAN - Key Highlights
Cardano amount is placed accurately in a absolute area adjoin the US Dollar and Bitcoin. ADA/USD could accretion upside drive appear $0.4000 in the abreast term.
Cardano Price Trend
There were many tests recently of the $0.3000 abutment in ADA amount adjoin the US Dollar. However, sellers were not able to move the amount beneath the $0.3000 support. It seems like a appropriate abutment abject is basic about the $0.3000 and $0.3100 levels. As continued as the amount is aloft the $0.3000 level, it could acceleration in the abreast term. At present, the amount is attempting to achieve aloft the 23.6% Fib retracement akin of the aftermost bead from the $0.4380 aerial to $0.3100 beat low.
Moreover, the ADA/USD brace is currently affective aloft a aloft bearish trend band with attrition at $0.3630 on the alternate chart. If the brace succeeds in clearing aloft $0.3700, there could be added upsides against $0.4000. An average attrition is about the 50% Fib retracement akin of the aftermost bead from the $0.4380 aerial to $0.3100 beat low. Aloft the mentioned $0.4000, the amount could alike analysis the aftermost beat aerial of $0.4380, which is a acute attrition level.
The all-embracing amount activity is absolute aloft the $0.3000 support. Below $0.3000, the amount could move into the bearish zone. On the upside, the amount may attempt to accretion abundant drive aloft the $0.4000 level.
Hourly MACD – The MACD for ADA/USD is hardly accepting clip in the bullish zone.
Hourly RSI – The RSI for ADA/USD has aloof confused aloft the 50 level.
Major Support Level – $0.3000
Major Resistance Level – $0.4000
Charts address – Cryptowat, Bittrex
