ADA/USD Long-term Trend –Bullish

Supply zone: $0.3000, $0.3200, $0.3400
Demand zone: $0.1000, $0.0500, $0.0001

Cardano is back in bullish trend in long-term outlook. The bears' pressure was strong within the week as $0.1379 in the demand area was retested and broken. The bears succeeded in pushing further down to $0.1118 in the demand area.

The cryptoasset was in this demand area on December 11th, 2017. Hence a strong support and the bearish pressure could not break. The bulls gradually returning back to the market.

Their high momentum was high and this resulted in the break of the downward trendline as you can see from the chart and price was pushed up to $0.1460.

It thus implies that the bulls may take price back to the moon. As more bullish pressure increases we may likely see a retest of $0.2000 in the supply area in the long-term.

 

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

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