Analysis of TRX and ADA as of 11/05/2018

The revival of the cryptocurrency market also affected trading pairs TRX/USD and ADA/USD. According to Justin Sun, the founder of the platform, on November 2, the number of TRX transactions amounted to 990 thousand, double that of Ethereum.

TRX/USD

On the chart we see that TRX/USD is trading inside an ascending wedge. According to our analysis, we should wait for confirmation of the price increase. Today the price should rise even higher, in which case I would recommend small purchases with the first targets at 3 cents and 4 cents. Risk-averse and conservative traders should wait until the price moves above 3 or 4 cents before buying. 

ADA/USD

First, we are seeing an increase in buyer support and, as a result, a price breakout above the resistance line. Secondly, ADA/USD is now trading above 7 cents, confirming our previous technical analysis. I would recommend that aggressive traders buy now with stops at 7 cents and first targets at 9.5 cents and 12 cents. More conservative traders should wait until the price reaches above 9.5 cents or the October 15 high before buying. After this, the first target should be the 12 cents mark, and then 20 cents. 

According to newsbtc.com