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  • ADA/USD has had a great run of late pushing over 60% higher since the start of the year.
  • Now the dust is settling the price has consolidated into a rising wedge formation.

 

ADA/USD Daily Chart

ADA/USD has been one of the outperformers recently but momentum might be falling slightly.

On the daily chart below you can see the price has now formed a rising wedge formation.

The volume below is suggesting that buying pressure has subsided in recent days.

As the price made higher high waves the volume did not match the enthusiasm.

Looking ahead a break of 0.058 would please the bulls but its difficult to see how the market will react at the 0.060 psychological level.

As always keep an eye on how the price reacts on retracements as the buyers could just be taking a breather.

 

ADA/USD Technical analysis