*Cardano (ADA) rose to US $ 0.310 against the US dollar and then started to downward correction.
*In the hourly chart of the pair of ADA / USD, there is a short-term downtrend with resistance at the level of $ 0.285.
*The pair was downgraded at $ 0.265 and $ 0.275
Cardano is even higher against the US dollar and Bitcoin. The ADA / USD may go back after testing the 0.265 support.
Cardano (ADA) price supports
Against the US dollar, the ADA is trading at $ 0.288. The ADA outperformed the $ 0.280 and $ 0.300 resistance levels and traded at as high as $ .310. Later, a downward correction began and the ADA fell below $ 0.280. However, the $ 0.265 support zone acted as a strong support and prevented further declines.
The ADA generated a low price of 0,268 USD and was released from the 100-hour simple moving average. The ADA then reached a high level and traded above the 50% Fib correction level with the last hit, falling from 0,310 to 0,268. However, the uptrend in upward trend is close to the level of $ 0.300. Moreover, the ADA's downward trend from $ 0.310 to $ 0.268 was 61.8% resistance at the Fib correction level. In addition, there is a short-term downtrend in the ADA / USD parity hourly chart with a resistance of $ 0.285. The pair may continue to rise after breaking the trend line resistance, breaking the $ 0.300 level.
The chart shows that the ADA is downwardly supported by the $ 0.265 level. If there is an expanded market correction, it will not be easy for the seller to clearing 0.265 dollars. A break above $ 0,300 and $ 0.310 may also be called up for a true rally of perhaps $ 0.350.
Techno showcases by Cardano
Hourly MACD: The MACD for ADA / USD has risen slightly from the drop zone.
Hourly RSI (Relative Power Index): RSI for ADA / USD is now below 50 with neutral signals.
Major support level: $ 0.265
Great resistance level: $ 0,300