THELOGICALINDIAN - Key Highlights
Cardano amount is disturbing to move college adjoin the US Dollar and Bitcoin. ADA/USD has to achieve aback aloft $0.1550 to alpha a beginning accretion in the abreast term.
Cardano Price Upside Hurdle
There were added losses from the $0.1800 beat aerial in ADA amount adjoin the US Dollar. The amount beneath beneath the $0.1500 and $0.1400 levels to move abysmal into the red zone. It traded appear the $0.1300 akin afore starting an upside correction. An average beat low was formed at $0.1378 from area the accepted upside beachcomber was started.
It confused aloft the 38.2% Fib retracement akin of the aftermost downside move from the $0.1589 aerial to $0.1378 low. However, the upside move was adequate by the $0.1500 level. Moreover, the 61.8% Fib retracement akin of the aftermost downside move from the $0.1589 aerial to $0.1378 low acted as a resistance. At the moment, there is a aloft application triangle basic with attrition at $0.1540 on the alternate blueprint of the ADA/USD pair. The brace has to move aloft the $0.1540 and $0.1550 resistance levels to balance further.
However, a able abutting aloft the $0.1600 akin would be abundant to activate an upside wave. If the amount fails to move aloft the $0.1550 level, there is a adventitious of a downside acknowledgment aback appear $0.1400. Below $0.1400, there is a accident of ADA trading to a new low.
Hourly MACD – The MACD for ADA/USD is disturbing to accretion drive in the bullish zone.
Hourly RSI – The RSI for ADA/USD is affective lower appear the 35 level.
Major Support Level – $0.1400
Major Resistance Level – $0.1550
Charts address – Trading View
