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FxWirePro: ADA/USD trades in narrow range, break above $0.1230 confirms further bullishness

Short term trend  Weak

The pair is consolidating in narrow range after a minor recovery of more than 15% from the  low of $0.1070 level. ADAUSD has lost more than 90% from the all-time high of $1.13900 level. Cardano testnet launched to focus on Smart contracts “Translation”.

Major support - $0.1100 and any violation below will drag the pair down till $0.100/$0.0780.

Major intraday resistance - $0.1230 (10 day MA). Any break above targets $0.1390 (20 - day MA)/$0.1515 (55- day EMA). The pair has formed temporary top around $0.1975 on Jul 18th 2018 and started to decline from that level. Any convincing break above will take the pair to next level till $0.2370 (Jun 3rd 2018)/$0.2830 (May 13th high).

It is good to sell on rallies around $0.1250 with SL around $0.1360 for the TP of $0.1000.

 

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