Cardano (ADA) is established perfectly in a positive place in comparison with the US Dollar and Bitcoin. ADA/USD is most probably going to increase its value to more than $0.1750 and towards $0.2000.
Cardano Price Support
Positive momentum was witnessed initiating from much under the $0.1500 in ADA value in comparison with the US dollar. The price got the boost, and it effectively broke some of the key resistances like $0.1600. Its trade value also went beyond the $0.1650 resistance and established crossing the 100 hourly simple moving on average. Its trade value reached as big as $0.1763 prior witnessing a downward movement.
A negative reaction was also realized. However, the halted resistance at $0.1600 provided the due support. As a consequence, the value witnessed a positive movement, and its trade worth crossed the 50% Fib retracement mark of the past downfall from the $0.1763 maximum to $0.1600 minimum. Anyway, the present upward movement is witnessing sellers around the $0.1700 mark. More importantly, the 61.8% Fib retracement point of the past downfall from the $0.1763 at the top to $0.1600 at low occurred due to difficulties. At the lower end, the value remained established above $0.1600 mark.
There is also a point joining the bullish trend line establishing through the support at $0.1650 at the hourly chart of the ADA/USD pair. Till the cost is more than $0.1600 support mark, it can keep up growing towards $0.1750. Beyond $0.1750, the cost can also challenge the $0.2000 mark.
Short Summary
- ADA value is getting the uplift, and at present, its trade value is more than the $0.1600 mark, in comparison with the US Dollar.
- A point linking bullish trend line can be observed establishing through at $0.1650 on the hourly chart of the ADA/USD pair. [This data received through Bittrex]
- This pair is expected to keep uprising, and it could also be challenging for the $0.2000 resistance in the upcoming term.
Technicals
- MACD per hour – The MACD for ADA/USD is a little bit within the bullish area.
- RSI per hour – The RSI for ADA/USD is at present little above the 50 level.
- Prime Support Level – $0.1600.
- Prime Resistance Level – $0.1750
