Supply zone: $0.4000, $0.4200, $0.4400 Demand zone: $0.2200, $0.2000, $0.1800 Cardano’s long-term outlook remains bullish. As analysed in the previous week, that $0.3400 supply area was set for a retest, Cardano did just that and pushed higher to $0.3867.
The pullbacks that saw Cardano at the $0.2600 demand area were a market correction. The 26 exponential moving averages acted as a good support for a downward rejection.
The bulls came in strongly at this point and drove the price to the moon. Cardano opens the week on a bullish style at $0.3567, above the three moving averages crossover.
This clearly indicates a bullish pressure and more bullish candles are expected to form above the crossover. The moving averages are likewise fanned apart which implies a strength in the context of the trend, in this case, the uptrend.
Cardano’s uptrend continuation is certain, with $0.4600 supply area as the target. This was February’s high on the 10th and a retest of the area is highly probable. Read more from cryptoglobe.com…
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