The bulls are control of the short an medium-term outlook.
Traders may look consider buying at bearish exhaustion areas.

ADA/USD Medium-term Trend: Bullish

Supply zones: $0.01000, $0.01200, $0.01400
Demand zones: $0.02000, $0.01500, $0.01000

ADA is in a bullish trend in its medium-term outlook. The drop in price twice to $0.06640 in the demand area by the bears created the double bottom formation. The bulls comeback was signaled by the bullish 4-hour spinning top opening yesterday candle at $0.06817.

ADAUSD rose to $0.07407 before the end of session breaking the resistance at 50-EMA.
The bullish momentum was sustained at today’s opening with a further push of price to $0.07881 in the supply area.

Currently, a brief pullback by the bears is ongoing. This is to confirm the bullish continuation and for market correction. ADAUSD was down to $0.07103 in the demand area.

Price is around the two EMAs which suggest the bullish presence and the stochastic oscillator signal is parallel at 82% an indication undefined. With an increase in pressure on price by the bulls after the bears’ exhaustion, the upward journey may retest $0.08000 in the supply area.

ADA/USD Short-term Trend: Bullish

The cryptocurrency is in a bullish trend in its short-term outlook. The break at the two EMAs crossover during yesterday session confirmed the bulls takeover. ADAUSD was initial up at $0.07096 and ended the day at $0.07309 in the supply area.

$0.07481 in the supply area was the high attained shortly after today’s 1-hour opening at $0.07304 before exhaustion sets. The candle closed an inverted pinbar, an indication of the bears returned.

ADAUSD dropped to $0.07114 in demand area which was the 38.2 fib area, a trend continuation zone. A retest of the 38.2 may occur to create a double bottom that favour the bulls return for upward continuation to $0.07481 in the supply area and subsequent breakout.

Live Cardano (ADA) Price:

1 ADA/USD =$0.0677 change ~ 3.67%

Coin Market Cap

$1.76 Billion

24 Hour Volume

$50.61 Million

24 Hour VWAP


24 Hour Change


The views and opinions expressed here do not reflect that of and do not constitute financial advice. Always do your own research.

Original Article


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