Cardano Reaches Bullish Exhaustion at Level $0.3558

Cardano (ADA) Price Long-Term Forecast: Bullish
The price of Cardano (ADA) has resumed its upward trend as it reaches bullish exhaustion at level $0.3558. Near the most recent high, the market is overbought. At $0.35, the previous support level that was breached now serves as a barrier. At this time, the price of cryptocurrencies cannot surpass it.In the previous price action, on March 9, bulls bought the dips, ending the bearish trend. Despite rising back above the $0.30 support, the price of the cryptocurrency is still below its most recent high of $0.35. If the current resistance is overcome, the market will rise to its previous high of $0.40 or $0.42. The altcoin will be forced to move in a range if purchasers are unable to sustain the price above the moving average lines.

Cardano (ADA) Indicator Analysis
The Relative Strength Index for period 14 has Cardano at level 50. Due to a balance between supply and demand, the price of the altcoin has reached its equilibrium level. Price bars fall below the moving average lines but remain there when compared to the 21-day SMA. The altcoin is currently trading above level 80 of the daily Stochastic in the overbought area. ADA might decrease.

Technical indicators:
Major supply zones: $1.0, $1.05, $1.10
Major demand zones: $0.45, $0.40, $0.35

What Is the Next Move for Cardano (ADA)?
Cardano is an upward move as it reaches bullish exhaustion at level $0.3558. The crypto has reached bullish exhaustion at the recent high. On March 13 uptrend; a retraced candle body tested the 78.6% Fibonacci retracement level. The retracement implies that ADA will rise but will reverse at level 1.272 Fibonacci extension or $0.3558.

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