IOHK's Cardano (ADA) Launches First Smart Contract TestNet (KEVM)

ADAUSD Long-term Trend -Bullish

Supply zone: $0.4000, $0.4200, $0.4400

Demand zone: $0.1500, $0.1000, $0.0500

Cardano returns bullish in the long-term outlook. The pair closes last month above the $0.2000 mark and starts the month above this demand area. This scenario brought back the bulls to the market.

The bearish run that started on 28th April came to an end as the bears dragged price to the demand area at $0.1709 on 28th May. The bulls set in at this area and muscle enough strength to push price up. They were able to break the critical supply zone at $0.2000.

Currently, the pair is trading at $0.2130. The volume may increase in the long term as the bulls increase their momentum and presence in the market. $0.2500 is the initial bears' while $0.4000 is the  target in the long-term


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



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