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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.     

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