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CARDANO (ADA) Long-term Price Analysis- April 2

ADA/USD Long-term Trend –Bullish
  • The long-term outlook continues in the uptrend.
  • Buying at pullback areas with bullish reversal candlestick pattern as confirmation.
  • Supply zone: $0.1000, $0.1200, $0.1400
  • Demand zone: $0.0100, $0.0080, $0.0060

ADA continues in the uptrend in its long-term outlook. The strong bullish momentum was sustained with a retest at $0.07000 on 29th March in the supply area as predicted in last week’s analysis. ADA close the week higher at $0.07456.

ADA is already up at $0.08892 in the supply area as the new week and new month began with strong bullish pressure.

ADA chart by TradingView

The price is above the two EMAs which are fanned apart. This connotes strength in the context of the trend and in this case the uptrend. The stochastic oscillator signal is up in the overbought region at 87%. This further confirms upward momentum in price of the cryptocurrency in the long-term.

$0.1000 mark in the supply area is the bulls target as momentum to the upside increased and more candles opened and closed above the two EMAs.

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Written by Ravi Gupat

Ravi grew up in India and graduated in Economics. He is a serial entrepreneur who has founded and exited several companies in tech and media over the past 15 years. He is also an early stage investor and advisor in various blockchain-based companies.

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