Cardano (ADA) Distribution and accumulation territories:
Distribution territories: $0.080, $0.083, $0.088
Accumulation territories: $0.077, $0.073, $0.070
Cardano Medium-term Price Analysis: Bullish
ADA continues its bullish trend in the medium-term outlook. The bulls pushed the market to the north yesterday with radical speed to the higher distribution level of $0.088. The bears with their own momentum interrupted the uptrend movement and reversed the coin to the lower accumulation level of $0.077.
The coin is below distribution level of $0.077 and is in-between the 10-day EMA and 50-day EMA with the 10-day EMA below the price and 50-day EMA above the price. This may indicate a continuation of the uptrend.
However, in case the bears increase their pressure the lower accumulation level of $0.073 may not hold and the coin will expose the $0.070 accumulation area. The bulls are still in control of the market, a full pressure from the bulls will make the market continue the uptrend movement.
Cardano Short-term Price Analysis: Bullish
Yesterday, the bulls increased their momentum and the coin was pushed to break the distribution level of $0.08. The price was exposed to a higher distribution level of $0.088. ADA experienced a pullback to the accumulation level of $0.077 by the formation of the upper long-tailed candle, followed by the bearish candles.
The coin is above the 10-day EMA and the 50- day EMA, which connotes the increase in price. The MACD is below the zero level and the signal lines point to the south, indicating sell signaling.