THELOGICALINDIAN - Key Highlights
Cardano amount is placed accurately in a bullish area adjoin the US Dollar and Bitcoin. ADA/USD downsides abide bound with supports abreast $0.2400 and $0.2300.
Cardano Price Support
After a nice upside move, ADA amount begin affairs absorption abreast the $0.2745 akin adjoin the US Dollar. The amount fabricated a concise top abreast the $0.2746 akin and started a downside move. It beneath and confused beneath the $0.2700 and $0.2600 abutment levels. Moreover, there was a breach beneath the 23.6% Fib retracement akin of the aftermost beachcomber from the $0.2120 beat low to $0.2745 beat high.
However, the abatement was bound and the amount begin abutment abreast the $0.2400 level. More importantly, the 50% Fib retracement akin of the aftermost beachcomber from the $0.2120 beat low to $0.2745 beat aerial is currently acting as a support. There is additionally a aloft bullish trend band basic with abutment abreast the $0.2400 akin on the alternate blueprint of the ADA/USD pair. Therefore, it seems like the brace is able-bodied accurate aloft the $0.2400 level. Below $0.2400, the amount may analysis a crucial axis region abreast $0.2300.
The chart suggests that the amount may actual a few credibility against $0.2400 in the abbreviate term. However, declines are acceptable to be bound back the $0.2400 abutment is actual significant. On the upside, the amount faces an antecedent attrition at $0.2550. A advance aloft $0.2550 could accessible the doors for an upside move appear $0.2700.
Hourly MACD – The MACD for ADA/USD is currently in the bearish zone.
Hourly RSI – The RSI for ADA/USD is affective college appear the 50 level.
Major Support Level – $0.2400
Major Resistance Level – $0.2700
