Supply zones: $0.08600, $0.08800, $0.09000
Demand zones: $0.03000, $0.02800, $0.02600

ADA is in consolidation in its medium-term outlook. The formation of a bullish inverted hammer at $0.03486 in demand area in the context of a downtrend was an indication of a trend reversal.

The bullish pressure thus pushed the cryptocurrency up to $0.03992 in the supply area as ADAUSD enters into consolidation in the medium-term.

Price is above the 10-EMA and the stochastic oscillator is at 76% and its signal points up. It suggests upward price movement within the range.

ADAUSD is in consolidation and trading between $0.04241 in the upper supply area and at $0.03475 in the lower demand area of the range. A breakout at the upper supply area or breakdown at the lower area may occur hence patience is required to allow this to happen before a position is taken.

The cryptocurrency is in a bearish trend in its short-term outlook. The bearish pressure was lost after the cryptocurrency dropped to$0.03411 in the demand area. The bulls stage a comeback after formation of a hammer at $0.03548 making at $0.03767 in the supply area before the end of yesterday session.

The bullish momentum was sustained briefly after opening with the cryptocurrency up at $0.03852 in the supply area before exhaustion set. The bears are gradually returning with the formation of a bearish candle. An impulsive move may happen and this will confirm the bears' full take over.

The stochastic oscillator is in the overbought region at 9% in the oversold region with its signal pointing down. Which suggest a downward price movement in the short-term.

The structure of the cryptocurrency in the short-term is an M with the right leg forming. $0.03300 in the demand area may be tested as the bearish momentum increases.

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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