THELOGICALINDIAN - Key Highlights
Cardano amount is disturbing to actual college adjoin the US Dollar and Bitcoin. ADA/USD charge break aloft the $0.1800 abutment to abstain added declines in the abreast term.
Cardano Price Decline
There was a short-term correction accomplished from the $0.1810-00 abutment breadth in ADA amount adjoin the US Dollar. The amount adapted higher, but it could not breach aloft the $0.2000 resistance. Moreover, the amount struggled to breach the 100 alternate simple affective boilerplate at $0.2018. As a result, there was a downside advance and the amount confused aback appear the $0.1800 level.
At the moment, the amount is captivation the $0.1800 support, but it charcoal at a accident of added losses. On the upside, an antecedent attrition is about the 23.6% Fib retracement akin of the aftermost abatement from the $0.2018 aerial to $0.1797 low. Moreover, there are two key bearish trend curve basic with attrition at $0.1900 on the alternate blueprint of the ADA/USD pair. The trend band attrition is additionally abutting to the 38.2% Fib retracement akin of the aftermost abatement from the $0.2018 aerial to $0.1797 low. Added importantly, the $0.1850 area is abreast the 100 alternate simple affective average.
Therefore, an upside accretion aloft $0.1850-0.2024 won’t be easy. On the downside, a breach and abutting beneath $0.1800 will best acceptable advance the amount appear the abutting abutment at $0.1680.
Hourly MACD – The MACD for ADA/USD is currently in the bearish zone.
Hourly RSI – The RSI for ADA/USD is now able-bodied beneath the 50 level.
Major Support Level – $0.1800
Major Resistance Level – $0.2024
Charts address – Trading View
