ADA/USD Long-term Trend –Bearish
Supply zone: $0.1600, $0.1800, $0.2000
Demand zone: $0.0600, $0.0300, $0.0001
ADA long-term outlook remains is a bearish trend. The cryptocurrency has continued the downward journey from 5th September after the touch on the edge of the downward channel as seen from the chart.
The large engulfing bearish candle that closed below the 10-EMA dropped the cryptocurrency at $0.08252 in the demand area has sustained the bearish pressure.
Price is below the two EMAs crossover with the stochastic oscillator in the oversold region at 17% and its signal points down. This implies further downward price movement as the bearish momentum increased as bears continue the push downward.
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