- ADA/USD is trading between the moving average support and resistance.
- Technical indicators send bullish signals; buyers intent on breaking trendline resistance and retrace towards $0.350 critical level.
Cardano is teasing a bullish breakout movement above the intraday support at $0.11. However, the trendline resistance is still standing in the way of upward motion. In addition, the 100-day moving average will offer resistance at $0.1150. A break above the trendline resistance will be instrumental to the buyers who are currently intent on pushing ADA/USD higher towards the critical resistance at $0.1350.
Cardano has been trading lower highs and lower lows since last week. A series of recovery attempts have been rendered unsuccessful culminating in even more declines. On Saturday, ADA/USD dropped to 0.107. Luckily the buyers entered at the right time while the crypto was on the verge of sliding below $0.10. The staged pullback in an engulfing candle retraced above $0.1150 but the buyers were unable to maintain the trend which turned bearish again. The current support at $0.110 has stood its ground for a couple of days now.
If Cardano’s attempts to break the trendline resistance turn bearish, the 50 simple moving average will act as support line at $0.11740. However, as mentioned above, $0.10 is the intraday stronger support. In the meantime, technical indicators show that the trend is still quite bullish. ADA/USD is also trading at the narrowing end of a contracting triangle, pending a breakout.
ADA/USD hourly chart 
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