Cardano Price Analysis: ADA/USD Approaching Key Support

2018-7-20 11:00

Key Highlights ADA price surged towards the $0.2000 level before starting a downside correction against the US Dollar (tethered). There is a significant bullish trend line formed with support at $0.1700 on the hourly chart of the ADA/USD pair (data feed via Bittrex). The pair is correcting lower, but it remains well supported above the $0.1700 level.

Cardano price is placed nicely in a bullish zone against the US Dollar, Ethereum and Bitcoin. ADA/USD remains buy on dips near $0.1700.

Cardano Price Analysis

There were further gains in cardano price above the $0.1800 level against the US Dollar. The ADA/USD pair surged above the $0.1900 level and traded close to the $0.2000 level. A high was formed at $0.1970 before the price started a downside correction. It declined below the $0.1900 support and also broke the 23.6% Fib retracement level of the last wave from the $0.1500 low to $0.1970 high.

However, the price is currently approaching a major support near $0.1700. There is also a significant bullish trend line formed with support at $0.1700 on the hourly chart of the ADA/USD pair. Above the trend line, the 50% Fib retracement level of the last wave from the $0.1500 low to $0.1970 high is at $0.1735. Around the trend line, the 100 hourly simple moving average is positioned at $0.1680. Therefore, if the price corrects lower from the current levels, it is likely to find a strong support near $0.1700 and the 100 hourly SMA.

The chart indicates that the price remains in an uptrend with support at $0.1730, $0.1700 and $.1680. Below these, the price could revisit $0.1500. On the upside, the price has to move above the $0.1850 and $0.1900 resistances to resume its upside move. The most important resistance is near $0.2000.

Hourly MACD – The MACD for ADA/USD is about to move back in the bullish zone.

Hourly RSI – The RSI for ADA/USD is currently below the 50 level and is heading south.

Major Support Level – $0.1700

Major Resistance Level – $0.1850

The post Cardano Price Analysis: ADA/USD Approaching Key Support appeared first on NewsBTC.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Lendroid Support Token (LST) на Currencies.ru

$ 0.00049 (+0.76%)
Объем 24H $0
Изменеия 24h: 5.17 %, 7d: -58.34 %
Cегодня L: $0.00049 - H: $0.00049
Капитализация $0 Rank 3554
Цена в час новости $ 0.00301163 (-83.73%)

ada key usd support price approaching cardano

ada key → Результатов: 24