TheCryptoUpdates
Price Analysis

?Cardano (ADA) Daily Price Analysis | Cardano News | October 22, 2018

Cardano daily Price Analysis

Cardano (ADA) Distribution and accumulation territories:

Distribution territories: $0.080, $0.083, $0.088

Accumulation territories: $0.075, $0.071, $0.069

Cardano Medium-term Price Analysis: Ranging

ADA is ranging in its medium-term outlook. On October 18, the bears lost their pressure and could not break down the accumulation territories of $0.075. The bulls pushed the ADA price up slightly but resulted in consolidation. The coin has returned to its previous state of consolidation between the distribution territories of $0.080 and accumulation territories of $0.075.

As of now, the cryptocurrency is falling as it approaches the previous low at the accumulation territories of $0.075. In case the price falls to the low distribution of $0.075, traders should look out for initiating the long trade.

Nonetheless, MACD with its histogram is above the zero level with its signal lines pointing to the south which indicates a sell signal. In the same vein, the price is under the 50-day EMA and 10-day EMA; 10-dayEMA is crossing the 50-day EMA downward which indicates that a bearish trend is ongoing.

Cardano Short-term Price Analysis: Ranging

Cardano Short-term Price Analysis | October 22, 2018

On the 1-Hour chart, ADA is ranging. The ADA price is between 4-day EMA and the 50-day EMA indicating that the price is ranging.

If the price falls to the low of $0.075 the accumulation territories would be breached. In case the ADA price increase towards the distribution territory of $0.080 and the bears defend the territory, traders should look out for sell setup to initiate the short trade.     

Related Articles

Price Analysis For Bitcoin, Bitcoin Cash, Ethereum, Monero and Ripple

Akansha Kesarwani

Daily Price Analysis for Wanchain (WAN) – September 19, 2018

Akansha Kesarwani

Cryptocurrency News | Bitcoin Cash Price lower than ETH price for the first time in few weeks

Akansha Kesarwani