Cardano (ADA) Price Analysis: Trends of September 28–October 4, 2018

2018-9-28 15:05

Key Highlights: There may be a break out of the consolidation this week; more bullish candles are formed; the price may retest the supply zone of $0.08 after the breakout ADA/USD Price Long-term Trend: Ranging

Supply Zones: $0.08, $0.11, $0.13
Demand Zones: $0.05, $0.04, $0.03Cryptocurrency is ranging in its long-term outlook. The coin started ranging immediately the coin headed towards lower trend line and broke the last week strong demand Zone of $0.08 and continued its bearish movement in its long-term. The Bulls were able to push the price from the demand zone of $0.05 toward the dynamic resistance of 50-day EMA but could not break through and started consolidation at the region last week.

The price is currently between the 4-day EMA and the 50-day EMA at $0.08. Only a radical fundamental event can forcefully bring about a significant rally in the market on the daily chart. There is a probability that the price may break out this week of supply zone of $0.08, move upward towards the upper supply zone of $0.11 should the buyers increase their momentum. As the RSI 14 is at 50-levels pointing towards the north; there is a probability that the price will increase this week.

ADA/USD Medium-term Trend: Bullish

ADA/USD on the medium outlook is bullish. The price rallied towards the north after it had a rejection from the demand zone of $0.05 which ended up with the formation of the bullish candles on 4-H chart last week.

The price moved up and broke the supply zone of $0.08. The coin is currently above the 4-day EMA which has crossed the 50-day EMA upside. At present, the price is above the supply zone of $0.08 with the formation of more bullish candles.

The RSI 14 is above 70 levels with the signal line pointing upwards. There is a probability for the coin to retest the supply zone of $0.08 again before continues its uptrend movement. Should the supply zone of $0.11 broken, an uptrend movement will be triggered towards the upper supply zone of $0.13. Traders should patiently follow the trend.

The post Cardano (ADA) Price Analysis: Trends of September 28–October 4, 2018 appeared first on CoinSpeaker.

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Cardano (ADA) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $0.576
Капитализация $0 Rank 99999
Цена в час новости $ 0.0844732 (-100%)

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