ADAUSD Long-term Trend -Bullish
Supply zone: $0.2400, $0.2600, $0.2800
Demand zone: $0.1500, $0.1400, $0.1300
Cardano is in a nice uptrend on the long-term outlook. The break of the critical supply zone at $0.1800 witnessed the bullish move to the supply area at $0.2000, as predicted last week. The price is conveniently above the moving averages crossover, with daily candle closed and open above the crossover. This is a reflection of the bullish pressure. The stochastic oscillator is above the 50 percent level in the overbought region, but shows no sign of reversal to the downside, pointing to a strong upward momentum.
The week ahead looks good for the bulls as the price of Cardano may likely get to the supply zone at $0.2500. A break and close above $0.2300 will definitely see Cardano in the moon. We are likely to experience a minor pullback at the supply area of $0.220 due to the triple top scenario in that area, but this will definitely be a good comeback for the bulls to drive the price higher up.
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