Cardano (ADA)

CARDANO Price Prediction: Long-term (ADA) Value Forecast – June 22

Azeez Mustapha
June 22, 2019

ADA/USD Long-term Trend –Ranging

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

ADA continues in a range-bound market in its long-term outlook. Although the week opened on a bullish note at $0.09157 on 16th June with a brief breakout. The coin was up at $0.09771 in the supply area but lost momentum as it closed within the range.

Same attempts were made on 17th and 21st June but at the end of the day, price closed within the range.

Today witness another bullish attempt as price rose to $0.09768, breaking out of the range but fell back within the range and currently at $0.08988 with a low at $0.08584.

The stochastic oscillator signal points down at 53% an indication of downward momentum as the consolidation continues.

ADA is ranging and trading between $0.09500 in the upper supply area and at $0.065000 in the lower demand area of the range. A breakout at the upper supply area or breakdown at the lower demand area will occur hence patience is required before taking a position.

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.

Azeez Mustapha

Azeez began his FinTech career path in 2008 after growing interest and intrigue about market wizards and how they managed to become victorious on the battlefield of the financial world. After a decade of learning, reading and training the ins and outs of the industry, he’s now a sought after trading professional, technical/currency analyst and funds manager - as well as an author.