THELOGICALINDIAN - Key Highlights
Cardano amount is boring convalescent adjoin the US Dollar and Bitcoin. ADA/USD is adverse a above attrition beneath $0.2300 and is disturbing to breach the same.
Cardano Price Resistance
There was a decent upside move in ADA amount afterwards it begin abutment abreast $0.1850 adjoin the US Dollar. The amount recovered and confused aloft the $0.2000 attrition level. The upside move was absolute back there was a abutting aloft the $0.2000 akin and the 100 alternate simple affective average. It traded aloft the $0.2200 level, but it faced a able attrition abreast $0.2250.
During the upside move, there was a breach aloft a above bearish trend band with attrition at $0.2050 on the alternate blueprint of the ADA/USD pair. It is a absolute sign, but the amount has to breach the $0.2250 and $0.2300 attrition levels. At the moment, the amount is accumulation and is trading beneath $0.2220. An antecedent abutment is abreast the 23.6% Fib retracement akin of the latest beachcomber from the $0.1895 low to $0.2230 high. However, there is a major support basic abreast $0.2100 and the 100 alternate SMA. It additionally coincides with the 38.2% Fib retracement akin of the latest beachcomber from the $0.1895 low to $0.2230 high.
Therefore, the $0.2100 is a appropriate support. On the upside, a breach aloft the $0.2300 akin is charge for the amount to abide affective higher.
Hourly MACD – The MACD for ADA/USD is aback in the bullish zone.
Hourly RSI – The RSI for ADA/USD is currently able-bodied aloft the 50 akin with absolute signs.
Major Support Level – $0.2100
Major Resistance Level – $0.2300
Charts address – Trading View
