THELOGICALINDIAN - Key Highlights
Cardano amount has accretion able-bodied during the accomplished few sessions adjoin the US Dollar and Bitcoin. ADA/USD now has to move aloft $0.4000 to accretion upside momentum.
Cardano Price Recovery
There were further slides in ADA amount beneath the $0.4000 akin adjoin the US Dollar. The amount traded beneath the $0.3000 and $0.2800 abutment levels to move appear $0.2500. A low was formed at $0.2615 from area it started an upside recovery. It was acknowledged in affective aloft the 23.6% Fib retracement akin of the aftermost bead from the $0.5185 aerial to $0.2615 low.
During the upside move, there was a breach aloft a key bearish trend band with attrition at $0.3300 on the alternate blueprint of ADA/USD. The brace alike confused aloft the $0.3500 attrition level, but it bootless to accretion momentum. It traded abutting to the 50% Fib retracement akin of the aftermost bead from the $0.5185 aerial to $0.2615 low, but failed. It seems like the $0.3800 and $0.3900 levels are important resistances. At the moment, the amount is moving lower and is testing the $0.3200-0.3300 abutment area.
To accretion added upside momentum, the amount has to move aloft the $0.4000 level. The abutting aloft attrition aloft $0.4000 is at $0.5000. On the downside, if the amount fails to authority the $0.3200 support, there is a accident of added slides beneath the $0.3000 level.
Hourly MACD – The MACD for ADA/USD has bargain best of its bullish slope.
Hourly RSI – The RSI for ADA/USD is aloof about the 50 level.
Major Support Level – $0.3200
Major Resistance Level – $0.4000
Charts address – Cryptowat, Bittrex
