Long-term Price Forecast: CARDANO (ADA)

ADA/USD Long-term Trend –Ranging

Supply zone: $0.09000, $0.1000, $0.10500

Demand zone: $0.0600, $0.0300, $0.0001

ADA’s long-term outlook stays in a range-bound market. As ADA progressed towards a low demand area within the week, the strong bearish pressure continued.

ADA experienced a drop in demand to $0.06754 on October 31st after the cryptocurrency had earlier dropped to $0.06870 by a bearish engulfing candle.
The initial point where ADAUSD felt the push of the bullish pressure was at $0.07411.

Cardano (ADA) Price Today – ADA / USD

Name Price24H (%)
Bitcoin (BTC)
$7,931.17
-2.09%
Ethereum (ETH)
$172.22
-2.66%
Cardano (ADA)
$0.038017
-3.24%

On November 4th, the cryptocurrency went up in the supply area at $0.07771 as a result of the rise in bullish momentum

Price is seen above the 10-EMA and the stochastic oscillator signal pointing up and at 48%. All these reveals a sign that in the long-term, the currency will experience an upward price movement within the range.

ADAUSD is in consolidation and in the upper supply area, trades between $0.09000 and at $0.06900 in the lower demand area of the range.

Before traders take a position, they are advised to patiently wait for either a breakdown at the lower demand area or a breakout at the upper supply area.

Disclaimer: The information on this site is provided for discussion purposes only, and should not be misconstrued as investment advice. Under no circumstances does this information represent a recommendation to buy or sell securities.