THELOGICALINDIAN - Key Highlights
Cardano amount is boring ascent adjoin the US Dollar and Bitcoin. ADA/USD charge bright the $0.4000 attrition to accretion added upside momentum.
Cardano Price Support
There was a slow and abiding upside move formed from the $0.3200 low in ADA amount adjoin the US Dollar. The amount traded aloft $0.4300 afore acclimation lower. The contempo low was formed at $0.3395 from area the amount started a beginning upside wave. A abutting bullish trend band with abutment at $0.3500 on the alternate blueprint of ADA/USD acted as a support.
The brace confused aloft $0.3600 and the 23.6% Fib retracement akin of the aftermost abatement from the $0.4386 aerial to $0.3395 low. There was additionally a breach aloft a abutting bearish trend band with attrition at $0.3625 on the aforementioned chart. However, the upside move was bound by the $0.3650-0.3700 area. Moreover, there was no complete analysis of the 38.2% Fib retracement akin of the aftermost abatement from the $0.4386 aerial to $0.3395 low. It seems like the amount is adverse important attrition levels on the upside at $0.3800 and $0.4000. The $0.4000 akin is additionally the 61.8% Fib retracement akin of the aftermost abatement from the $0.4386 aerial to $0.3395 low.
Therefore, a breach and abutting aloft $0.4000 is bare for buyers to advance the amount added higher. On the downside, the $0.3400-0.3500 abutment breadth is a appropriate buy area.
Hourly MACD – The MACD for ADA/USD is boring affective college in the bullish zone.
Hourly RSI – The RSI for ADA/USD is aloof about the 50 level.
Major Support Level – $0.3400
Major Resistance Level – $0.4000
Charts address – Cryptowat, Bittrex
