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Cardano Short-Term Analysis (ADA): Bulls Conquer Territory



In the medium term, the price analysis of Cardano cryptocurrency (ADA) is quite optimistic. Yesterday, on a 4-hour chart, the cryptocurrency showed a bearish trend, the ADA price was stopped in the demand zone at a level of $ 0.073. Then the bulls were able to push the price above $ 0.08.

Today's price increase continues, and the formation of a symmetrical triangular pattern is confirmed on a 4-hour chart.

The cryptocurrency is trading between $ 0.080 in the upper supply zone and $ 0.075 in the lower demand zone. It should be noted that a breakthrough in the upper zone of resistance of a symmetrical triangle will be a good opportunity to buy, and a breakthrough in the lower zone of the trend support line will become an opportunity to sell.

The ADA / USD pair shows a bullish trend in the short-term outlook. ADA currently exceeds the 50-day EMA and the 10-day EMA. RSI 14 is above 50 levels, and the signal line is down, indicating a sell signal.

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