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: Ranging
ADA is consolidating in its medium-term outlook. The coin started consolidating after the market was pushed north with radical speed to the higher distribution level of $0.088 by the bulls. The bears with their own momentum interrupted the uptrend movement and reversed the coin to the lower accumulation level of $0.077 and thus the sideways movement began.
The coin is above the accumulation level of $0.077 and is on the 4-day EMA and 50-day EMA with the both EMAs closed together, indicating a continuation of sideways movement.
Should the bulls increase their momentum, the price will increase and the coin may break up the distribution level of $0.080, which will then expose it to the $0.083 distribution area. The bulls are warming up for a price upsurge.
Cardano Short-term Price Analysis: Ranging
When the bulls increased their momentum, the coin was pushed to break the distribution level of $0.08 and the price was exposed to a higher distribution level of $0.088. ADA experienced pull back to the accumulation level of $0.077 by the formation of upper long-tailed candle followed by the bearish candles and then started consolidating.
The coin is above the 4-day EMA and the 50- day EMA, in which 4- day EMA has crossed the 50-day EMA to the upside, which connotes the increase in price. The MACD is on the zero level and the signal lines are parallel on the zero level without direction. indicating consolidation may continue.