ADAUSD Medium-term Trend: Bullish
Supply zones: $0.160, $0.180, $0.200
Demand zones: $0.130, $0.120, $0.110
Cardano made a good move to the upside as analysed yesterday due to the divergence that was observed in the stochastic oscillator, the price to the supply zone of $0.16 that was mentioned. The closing of the candle above the three exponential moving averages is of note. It means that the uptrend is likely to continue. The stochastic oscillator also confirms this as the signal lines show strength up without crossing each other, and yet pointing upwards.
ADAUSD Short-term Trend: Bullish
The bulls are gradually coming back. Cardano is in a nice uptrend. From the daily chart, we could see from the opening price of $0.1514 (which happens to be the highest high yesterday), price has continued to go up. Currently price around the supply zone at $0.160. Price is moving above the three moving averages and the signals in the stochastic oscillator are pointing up which shows that price is likely to continue in the upward trend.
The views and opinions expressed here do not reflect that of CryptoGlobe.com and do not constitute financial advice. Always do your own research.
