In case Cardano penetrates above the key supply zone of $0.050, then the trend has changed to uptrend and have its high at $0.06 price level.
Key Highlights:
- Cardano price is making higher highs on the 4-Hour chart;
- the bulls are taking over gradually;
- the bears lost the pressure.
ADA/USD Price Long-term Trend: Bullish
Supply Zones: $0.032, $0.042, $0.050
Demand Zones: $0.027, $0.022, $0.016
ADA price has already penetrated the 21-day EMA with a bullish candle and moved towards the 50-day EMA which is yet to be broken. In other words, the Cardano price is trading between the two EMAs. In case the coin penetrates above the key supply zone of $0.050, then the trend has changed to uptrend and have its high at $0.06 price level. Meanwhile, the MACD period 12 with its histogram is above the zero levels with the signal line pointing upside which indicates high bullish momentum and buy signal.
ADA/USD Price Medium-term Trend: Bullish
The 21-day EMA has crossed the 50-day EMA upside as an indication of an uptrend movement. Cardano price is making higher highs above the two EMAs. The coin is currently carrying out price correction towards the broken level. The coin may continue an uptrend movement as the MACD period 12 with its histogram is above zero levels with the signal lines pointing to the north. The traders may go long.
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