CARDANO Price Prediction: Long-term (ADA) Value Forecast – July 21
• The long-term outlook continues in a downtrend.
- The bears are back in control of the market after the minor rally.
ADA/USD Long-term Trend –Bearish
Supply zone: $0.1200, $0.1400, $0.1600
Demand zone: $0.0400, $0.03000, $0.02000
ADA remains in a bearish trend in its long-term outlook. The bears successfully retested the demand area at $0.05000 as predicted on 15th July. The cryptocurrency dropped further to $0.04850 due to increased pressure by the bears which got weaken with the formation of a bullish spinning top on 17th July.
The market rally was sustained until 20th July at $0.06783 in the supply area with the week ending with an inverted pinbar as exhaustion sets in, a reversal signal.
The formation of wicks at this critical fib of 50.0 a trend reversal zone suggest the bears' resumption of downward continuation in the long-term.
The new week is starting on a bearish note at $0.06282 with price already down at $0.05910.
Price is below the two EMAs and the signal of the stochastic oscillator is parallel at 30% an indication of brief consolidation before downtrend continuation in the days ahead with $0.04850 as the initail target.
Live Cardano (ADA) Price:
1 ADA/USD =$1.2879 change ~ 1.10%
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