THELOGICALINDIAN - Key Highlights
Cardano amount is aback in a bullish area adjoin the US Dollar and Bitcoin. ADA/USD has to move aloft the $0.3000 attrition to accretion added in the abreast term.
Cardano Price Support
After trading as aerial as $0.3201, ADA amount faced sellers adjoin the US Dollar. The amount started a downside alteration and traded beneath the $0.3000 and $0.2800 support levels. However, the abatement was adequate by the $0.2500 abutment area. A low was formed at $0.2563 afore the amount started accumulation in a range. Later, a accretion was accomplished and the amount confused aloft the 23.6% Fib retracement akin of the aftermost abatement from the $0.3201 aerial to $0.2563 low.
More importantly, there was a breach aloft a concise application triangle with attrition at $0.2750 on the alternate blueprint of the ADA/USD pair. The brace traded added college and bankrupt the $0.2850 resistance. At the moment, it is trading abreast the 100 alternate simple affective boilerplate and $0.2900. On the upside, there is a aloft hurdle abreast $0.3000. However, a able abutting aloft the 61.8% Fib retracement akin of the aftermost abatement from the $0.3201 aerial to $0.2563 low is required. Once the break $0.2950 and $0.3000, there could be more gains.
The chart indicates that the amount is accumulation abreast $0.2800. It may abatement a few credibility afore it makes an attack to breach the $0.3000 resistance. Above the declared $0.3000 resistance, the amount could retest $0.3200.
Hourly MACD – The MACD for ADA/USD may move into the bearish zone.
Hourly RSI – The RSI for ADA/USD is about to analysis the 50 level.
Major Support Level – $0.2800
Major Resistance Level – $0.3000
