FxWirePro: ADA/USD hits fresh year low amid new version update by Cardano CEO Charles Hoskinson, good to sell on rallies

Intraday Trend  Weak

The pair has shown a minor recovery after hitting low of $0.1070 level. ADAUSD has lost more than 90% from the all-time high of $1.13900 level. Cardano CEO Hoskinson has updated that Cardano 1.3 coming soon and version 1.4 will go for QA process after Sep 4th.

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

Major intraday resistance - $0.1202 (55 H EMA). Any break above targets $0.1283 (200 H MA)/$0.1305. 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.