Supply zones: $0.1150, $0.1250, $0.1350
Demand zones: $0.0500, $0.0450, $0.0400

ADA is in a range in its medium-term outlook. The strong bearish pressure from with the range dropped the cryptocurrency to $0.08117 in the demand area before the end of yesterday trading session.

The bears' pressure was maintained as the market opened today with a bearish candle at $0.08234. Price was further down to $0.07788 in the demand area as the bulls gradually stage a comeback.

ADA is in consolidation and trading between $0.08784 in the upper supply area and at $0.07668 in the lower demand area of the range. A breakout at the upper supply area or breakdown at the lower demand area may occur hence patience is required before taking a position.

The cryptocurrency is in a bearish trend its short-term outlook. $0.07786 in the demand area was the low the bearish pressure from yesterday railroad formation at $0.08360 dropped the cryptocurrency.

A pullback to $0.08143 which is the 38.2 fib level by the bullish pressure was achieved as the rejection to further upward price movement was seen as candles close with wicks. Price is below the 10-EMA an indication to bears returned.

The pullback is necessary for the market correction before downtrend continuation. As more candles formed below the EMAs crossover new low in the demand area may be attained.

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

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