THELOGICALINDIAN - Key Highlights
Cardano amount is adverse abounding barriers adjoin the US Dollar and Bitcoin. ADA/USD charge ascend aloft $0.2820 and the 100 alternate SMA to accretion upside momentum.
Cardano Price Resistances
After a major downside move, ADA amount begin abutment abreast the $0.2300 akin adjoin the US Dollar. A low was formed at $0.2335 afore the amount started an upside correction. It recovered and confused aloft the $0.2500 attrition level. Buyers were additionally acknowledged in blame the amount aloft the 38.2% Fib retracement akin of the aftermost abatement from the $0.3203 aerial to $0.2335 low.
However, the upside move was capped by a able attrition abreast $0.2820. The amount additionally faced sellers abreast the 100 alternate simple affective average, which is currently at $0.2780. Moreover, the 50% Fib retracement akin of the aftermost abatement from the $0.3203 aerial to $0.2335 low prevented upsides. More importantly, there is a crucial bearish trend line basic in abode with attrition at $0.2750 on the alternate blueprint of the ADA/USD pair. The brace was alone from the $0.2800 zone, 100 alternate SMA, and the trend line.
The chart indicates that the amount is beneath burden and it may abatement aback appear the $0.2500 support. Should buyers abort to accumulate the amount aloft $0.2500, it may conceivably retest the $0.2330 beat low. On the added hand, if they accomplish in allowance $0.2820 and 100 alternate SMA, there can be a aciculate upside move appear $0.3200.
Hourly MACD – The MACD for ADA/USD is now aback in the bearish zone.
Hourly RSI – The RSI for ADA/USD has confused beneath the 50 level.
Major Support Level – $0.2500
Major Resistance Level – $0.2820
