• The long-term outlook is in consolidation.
• Traders should be patient for a retest after breakout or breakdown before taking a position.

ADA/USD Long-term Trend –Ranging

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

ADA remains in a range-bound market in its long-term outlook. The distinct break of the upper price range at $0.09500 on 26th June shot price up to $0.11673 in the supply area. The candle closed with a long wick an indication of exhaustion as the bears made a gradual return to the market.

$0.07579 within the range was the low of the week as the bears pushed the coin back in the range.

Price is below the two EMAs and the stochastic oscillator signal points down at 23% an indication of downward momentum as the market on a bearish note at $0.08959 as the consolidation continues.

ADA is ranging and trading between $0.09500 in the upper supply area and at $0.06500 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.