TheCryptoUpdates
Price Analysis

📊Cardano (ADA) Daily Price Analysis | Cardano News | October 23, 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

Cardano Medium-term Price Analysis | October 23, 2018

ADA is still ranging in its medium-term outlook. Neither the bears nor the bulls are yet to gain momentum to make the ADA price rally. The bears lost their pressure on October 18 and did not have enough pressure to break down the accumulation territories of $0.075. The bulls pushed ADA’s price up slightly, but this resulted in consolidation. ADA has returned to its previous state of consolidation between the distribution territories of $0.080 and the accumulation territories of $0.075.

Currently, ADA’s price is gradually 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 buying setup to initiate long trades.

Nevertheless, MACD with its histogram is on the zero level with its signal lines on the zero level parallel without direction, which indicates consolidation is ongoing. In the same vein, the price is under the 10-day EMA and 50-day EMA; 10-dayEMA and the 50-day EMA are interlocked which indicates that a consolidation is ongoing.

Cardano Short-term Price Analysis: Ranging

Cardano Short-term Price Analysis | October 23, 2018

On the 1-Hour chart, ADA is ranging. Neither the bears nor the bulls are yet to gain pressure to make the ADA price rally. The ADA price is between 10-day EMA and the 50-day EMA indicates that the price is ranging. Also, the MACD with its histogram and signal lines are below zero level but signal lines are pointing to the north which indicates a buy signal.

If the price falls to the low of $0.075, the accumulation territories would be breached. In case the ADA price increases 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

📈 TRON Price Analysis | Daily Price Analysis | TRX Price Trend

Neha Pahuja (Staff Writer)

Daily Price Analysis for Holo (HOT) – September 21, 2018

Azeez Mustapha

📈Ethereum (ETH) Price Analysis | Daily Price Analysis | October 25, 2018

Neha Pahuja (Staff Writer)