In case the bulls gather momentum and break up the supply zone of $0.050 Cardano will resume its uptrend and may have its target at $0.058 supply zone.
Should the bears break the demand zone of $0.042 with a daily bearish candle, closed below the zone, Cardano price may find its low at $0.032 – $0.021 price level.
For a bullish bias to form there is a need for Cardano price to go above the supply zone at $0.046. On the downside, the demand zone at $0.035 stands to be broken, and that will require a strong selling pressure.
Should the bears maintain their momentum on Cardano market and breaks down the price level of $0.032, ADA price will use its previous low as its target.
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.
Cardano price may rally towards the supply zone of $0.042 in case the bulls defend the demand zone of $0.027.
In case the bears were able to break downside the demand zone of $0.027 then it will have its low at $0.022. Else, the Cardano price will bounce and rally to the north to have $0.032 – $0.042as its target.
The bulls may push the Cardano price up to the range of $0.052 and $0.058 if the daily bullish candle closes above the price level of $0.042
There are possibilities for further downtrend movement in which Cardano price may have its low at $0.036 price level in case the bears break the demand zone of $0.042.
Should the bulls push Cardano price up to break the supply zone of $0.064 upside, the trend may change to uptrend but in case the bears defend this zone there will be downtrend continuation.