THELOGICALINDIAN - Key Highlights
Cardano amount is beneath burden adjoin the US Dollar and Bitcoin. ADA/USD charge break aloft the $0.1500 akin to abstain added declines in the abreast term.
Cardano Price Resistance
There was no upside recovery so far this anniversary aloft $0.2000 in ADA amount adjoin the US Dollar. The amount continued declines beneath the $0.1800 akin and is currently trading able-bodied beneath $0.2000. The abatement was such that the amount additionally bankrupt the $0.1600 level. It alike broken the $0.1500 akin and traded as low as $0.1472 afore starting a recovery.
It has confused a few credibility aloft the 23.6% Fib retracement akin of the aftermost abatement from the $0.1828 aerial to $0.1472 low. However, the upside move is adverse a lot of sellers abreast the $0.1600 level. There is additionally a major bearish trend line in abode with attrition at $0.1600 on the alternate blueprint of the ADA/USD pair. The brace has to move aloft the $0.1600 akin to balance further. Aloft the mentioned $0.1600 level, the amount may analysis the 50% Fib retracement akin of the aftermost abatement from the $0.1828 aerial to $0.1472 low at $0.1650.
It seems like there is a aloft barrier basic about $0.1650 and $0.1680 in the abreast term. On the downside, the amount charge break aloft the $0.1500 abutment to abstain any added declines. Below $0.1500, the amount may analysis the $0.1400 level.
Hourly MACD – The MACD for ADA/USD is hardly convalescent in the bullish zone.
Hourly RSI – The RSI for ADA/USD is now aloof about the 50 level.
Major Support Level – $0.1500
Major Resistance Level – $0.1650
Charts address – Trading View
