Supply zones: $0.0600, $0.06600, $0.06800
Demand zones: $0.02000, $0.01500, $0.01000

ADA returns to a bullish trend in its medium-term outlook. The cryptocurrency shows an inverted head and shoulder pattern. The bears lost momentum after the cryptocurrency was down to $0.04195 in the demand area.

With a bullish 4-hour opening candle at $0.04321 the bulls control of the market was confirmed for the day. ADAUSD rose to $0.04753 in the supply area. This is above the two EMAs crossover an indication of strong bullish pressure in the medium-term.

The stochastic oscillator signal points up at 74% which suggest upward momentum in price in the medium-term. The right shoulder of the pattern is formed which implies that the journey north may have started and $0.05000 in the supply area may be the initial target.

The cryptocurrency is in a bullish trend in its short-term outlook. ADAUSD is in an ascending channel. The bulls are presently in control of the channel with the bullish 1-hour opening candle at $0.04301. Increased momentum had pushed ADUSD up to $0.04617in the supply area.

The upper line of the channel is the bulls target in the short-term as price sits above the two EMAs and the stochastic oscillator signal points up at 76% which implies upward momentum in price of the cryptocurrency in the short-term.

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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