ADA/USD Long-term Trend – Bullish
Supply zone: $0.3000, $0.3200, $0.3400
Demand zone: $0.1000, $0.0500, $0.0001
Cardano long-term outlook continues in the bullish trend. The inverted head and shoulder pattern formed did shot the price up as predicted last week. Price was pushed up to $0.1980 in the supply area. This is above the two EMAs.
The formation of a doji followed by a long bearish candle brought the bears Price went down to 0.1538 in the demand area below the 10 EMA.
The stochastic oscillator is at 53 percent and it signal points down which suggest minor pullback due to the bears' pressure, but it should be seen as necessary for the market correction before uptrend trend continuation.
The $0.2000 in the supply area may be attained this week as the bulls increased their momentum 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.