FxWirePro: ADA/USD upside capped by 10- day MA, break above targets further bullishness

Short term trend  Weak

The pair has shown a minor recovery of more than 15% after hitting 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 - $0.1287 (10 day MA). Any break above targets $0.1412 (38.2% fib))/$0.1470 (200- day MA). 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.