Cardano (ADAUSD) Price Forecast: June 14
ADAUSD price may possibly experience more upsides and also set to be stronger in the coming days to break up the $0.4625 supply level. A decisive break below $0.2591 would bring more losses to the coin. However, a daily candlestick above the mentioned supply level would invalidate any bearish theory. Therefore, if buyers can put more efforts in their tension in the market, a shift in the trend upward will be achieved.
Key Levels:
Resistance Levels: $0.400, $0.500, $0.600
Support Levels: $0.250, $0.200, $0.150
ADA (USD) Long-term Trend: Bearish (Daily Chart)
Cardano looks bearish on the daily chart. The market price can be sighted below the moving averages which are fanned apart. This implies a downtrend and a bearish market sentiment.
The cryptocurrency price has been below the supply trend levels since its most recent low due to the persistent bearish pressure over the last few days.
The coin is recovering from the recent correction as fresh buying emerges near the supply level following the upward race.
The long traders made a promising move to a $0.2865 high mark below the two EMAs as a pullback shortly after the commencement of the daily session today. This indicates that buyers are manipulating the price distribution at the moment; this also gives room for a more bullish impact on the crypto market.
Therefore, if the bulls should add more aggression to their activities in the market, $0.4625 resistance level might be reached soon.
Next, the daily stochastic which is pointing up indicates that the price of ADAUSD might still continue in an upward trend. We therefore expect the next price jump to reach a significant level of $0.8000 soon in its long-term outlook.
ADA (USD) Medium-term Trend: Bearish (4H Chart)
The momentum on the medium-term outlook is starting to turn bullish as can be seen from the chart now. The price of ADAUSD is currently trading above the EMA-9. So it seems likely that the bulls are about to take over and push us higher.
The high impact from the bulls has made the Cardano price sustain above the supply trend line in its medium-term outlook. This implies that the coin is in a bullish trend.
The price action at a $0.286 supply value above the EMA-9 shortly after the opening of the 4-hourly chart today indicates a high buying level from the bulls. If the price is able to break above the $0.384 resistance value, then we can expect a good bullish momentum.
Additionally, the price of Cardano indicates an uptrend on the daily stochastic. This suggests that the bullish pattern may continue and it might possibly extend to the $0.8000 resistance mark soon in its medium-term time frame and as such a potential buy signals plus a turnaround for the coin buy traders.
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