Cardano, ADAUSD, Cryptocompare chart

ADAUSD Medium-term Trend: Bullish

Supply zones:  $0.200, $0.220, $0.240

Demand zones: $0.130, $0.120, $0.110

The bulls established their control over Cardano, with a nice high as analysed yesterday. The price got to the supply zone at $0.1923, the high it made on March 20th. Daily candle opens above three moving averages crossover at $0.1658, higher than yesterday open ($0.1539). The selling pressure was seen in the supply zone ($0.193) and the price was pushed back to the demand area at $0.1714. The price is above the three exponential moving averages crossover suggesting bulls pressure. The moving averages are fanned apart suggesting a strength in trend. Momentum to the upside exists as the stochastic oscillator down move was rejected at the 50 percent level.

ADAUSD Short-term Trend: Bullish

Cardano, ADAUSD, Cryptocompare chart

Cardano’s bullish trend continues. We saw price making higher high above the three exponential moving averages. The price was pushed down briefly from the supply zone at $0.168 to the demand zone at $0.1646. The buyers then drove price up to the supply area at $0.1923. The pullback to demand area at $0.1675 is a good sign of upward trend continuation. The price is above the three exponential moving averages crossover, meaning bulls’ pressure. Stochastic Oscillator signal strength is up, signifying strong momentum to the upside. The supply zone at $0.2000 is possible in the short term.

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