According to the price analysis of dagx.live’s financial analyst Peter Smith, Cardano (ADA) broke out of $0.10, it did not close above the resistance. Hence, it did not trigger his buy recommendation given in the previous analysis.
The failure to break out of $0.10 attracted selling that dragged the price down to the 50-day SMA. The bulls are attempting to hold this level. If successful, the ADA/USD pair might move back into the ascending triangle. It will pick up momentum on a breakout and close above $0.10, thinks Smith from dagx.live. However, if the price fails to climb back up, the pair might correct to the next support of $0.077 and below it to $0.073.
Tron (TRX) turned down sharply from $0.040, according to the opinion of dagx.live’s senior analyst Peter Smith. The pullback plunged below the 20-day EMA. It is currently attempting to bounce off the 50-day SMA. The 20-day SMA is flattening out and the RSI has dipped below 50, which suggests consolidation in the near term.
If the TRX/USD pair breaks below the 50-day SMA, it can drop to the uptrend line. A breakdown of this will indicate a change in trend. On the upside, $0.040 will continue to act as a stiff resistance. A breakout and close above $0.040 will indicate the resumption of the up move. The dagx.live’s specialist do not find any reliable trade setups at current levels, hence, he is not suggesting a long position in it.