CARDANO (ADA) Long-term Price forecast



ADA/USD Long-term Trend –Bullish

Supply zone: $0.1600, $0.1800, $0.2000
Demand zone: $0.0600, $0.0300, $0.0001

ADA long-term outlook is a bullish trend. The strong bearish pressure resulted in a retest of the target at $0.07821. Price went further down to $0.06220 in the demand area and lost momentum. The bulls gradually returned as the bullish railroad was formed.

The bullish pressure was strong with ADA at $0.08434 above the 10 EMA. This was a breakout from the upper line of the descending channel. The increased bullish momentum  was sustained after a retest of the line and the cryptocurrency was up $0.09425 in the supply area on 23rd September.

The stochastic oscillator is in the overbought region at 81% and its signal points. This implies an upward price movement of the cryptocurrency as the bullish pressure becomes stronger in the long-term.

$0.1050 in the supply area may be the bulls’ initial target as this is a weekly resistance area. A breakout from this area will put $0.1200 on the card.

 

 

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





Source link

Comments (No)

Leave a Reply

Get more stuff like this
in your inbox

Subscribe to our mailing list and get interesting stuff and updates to your email inbox.

Thank you for subscribing.

Something went wrong.