The bulls need to increase its momentum in order to break up the supply zone of $0.047 and this will expose Cardano to the supply zone of $0.055. Likewise, high pressure is required to break down the demand zone of $0.035 by the Bears.
The breakup of the supply zone of $0.047 by the bulls’ momentum will expose Cardano to the supply zone of $0.055 which may be its target. On the other hand, In case the bears defend the $0.047 price level, the coin will find its low at $0.035 – $0.028.
The breakdown of $0.035 demand zone by the Bears’ pressure will expose the demand zone of $0.028 and may be its target, while the breakup of $0.047 price level will make Cardano price find its high at the $0.055 price level.
The increase in the Bears’ pressure may lead to the breakdown of $0.037 demand zone and Cardano price may find its low at the $0.030 price level. Alternatively, if the price level of $0.037 holds the Bulls may take over the ADA market.
Cardano price may find its support at the previous low of $0.030 in case the bears maintain or gain more pressure to drive the coin downward but bearish momentum failure may lead to a change of trend direction.
Breakout is imminent, the breakdown of the demand zone of $0.042 will drop ADA price at $0.033 demand zone. In case the bulls defend the $0.042 price level, it will rally to the north and may have $0.058 as its target.
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.