• The bullish pressure remains strong in the long-term.
  • Traders may look to buy at key areas with bullish candlestick pattern as confirmation.

ADA/USD Long-term Trend –Bullish

Supply zone: $0.1200, $0.1400, $0.1600
Demand zone: $0.0500, $0.03000, $0.01000

ADA remain in the bullish trend in its long-term outlook. $0.09466 in the supply area was the high the bulls went on 10th April before exhaustion sets in and the bears pushed price down to $0.07592 in the demand area on 11 April below the 10-EMA.

This is creating a bullish flag or a descending channel that favour price breakout from the upper line of the channel. The flag is necessary for a market correction and to confirm the upward continuation.


The bulls were back after the drop on 11th April as indicated with the formation of a bullish doji at the end of yesterday session.

The journey to the upper line of the channel has begun and a subsequent breakout expected at the upper line in the days ahead.

Price is above the 50-EMA while the stochastic oscillator signal points down at 51% an indication of a minor pullback before upward price movement in the long-term.

Live Cardano (ADA) Price:

1 ADA/USD =$0.0790 change ~ -3.71%

Coin Market Cap

$2.05 Billion

24 Hour Volume

$65.54 Million

24 Hour VWAP

$0

24 Hour Change

$-0.0029

 

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

 

 

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