ADA/USD Long-term Trend -Bearish

Supply zone: $0.3000, $0.3200, $0.3400
Demand zone: $0.1500, $0.1000, $0.0500

The cryptocurrency continues in its bearish trend in long-term outlook. Last week analysis was quite fulfilled by the bears as they took price on a continuous journey to the south. They held sway of the market as they broke the target at $0.1800 in the demand area, retested it and went further down to a fresh demand area at $0.1600.
The bulls lost in pressure at critical demand area led to the bears return with strong pressure.

Cardano is currently at $0.1634. We may see a retest of the supply area at $0.1700 asa pullback by the bulls. This should be seen as a market correction for trend continuation to the south as the bears increase their pressure on the cryptocurrency 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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