The current short-term market recovery the largest altcoins is classified as a correction of the descending wave.
EOS/USD
During the first two trading sessions of the week the price of the EOS token dropped from $4,6517 to $3,470. The long shadow of a four-hour reversal candle indicates a significant amount of shopping EOS from local low prices scriptactive.
Bulls in the market EOS have demonstrated a willingness to protect their positions from the key support level at $3,5860.
At the time of the review of the market the pair EOS/USD is trading at $3,9760. Bulls by more than 50% restored-session losses, but the key level of $4,0552 the pair met resistance.
In this session not ruled out a re-test of price resistance sellers, with likely growth of quotations at least to the dynamic level of resistance on the line EMA14 prices are $4,1700.
On the four-hour chart of the pair EOS/USD the relative strength index has formed a bearish divergence. Divergence reinforces the strong execution of short-term price correction.
Sale paired EOS/USD recommended from levels of $4,1700 and $4,0552 with short-term goals $3,8800 and $3,7000.
XLM/USD
In the early hours of the Asian session on November 20, bears on the market Stellar a strong impulse broke through the support prices of scriptactive on the first key level of $0,2240. Session low at $0,1831 price Aldona reached in 5 hours.
Analysis of the four-hour schedule XLM/USD indicates the willingness of the bulls to buy scriptactive large volumes in the range of prices of $of 0.2000-0,1800.
RSI14 indicator data confirm the likelihood that buyers will provide temporary support to the already Stellar price of $0,2070. Values of relative strength index has gone beyond the oversold indicator line remains a tendency to turn upward.
Stellar sales only possible at the break down level at $0,2070 with short-term goals $0,1990 and $0,1890.
ADA/USD
At the time of market analysis Cardano in pair with the U.S. dollar quoted at $0,0484. Session low prices Cardano recorded at $0,0426.
On the background of the General market surge of activity of buyers of bulls in the market Cardano reached $0,0518, near the key level with a value on the price scale $0,0540.
It should be noted that the resistance of the designated key moving average level strengthened EMA14.
It is expected that short-term price correction ADA/USD will end with the break of the support at $0,0464 with a further decrease of quotations at least to the level of a session’s low prices.
IOTA/USD
As of 20:30 GMT on 20 November a pair of IOTA/USD is trading at $0,3148 completing the retracement of the second wave.
Session low price Aldona recorded at $0,2800. Technical indicators show a strong bearish trend the pair IOTA/USD.
It is expected that the support price IOTA bulls will have a key level of $0,2645. In case of breaking support, which has a high degree of likelihood, the bears will open the scope for reduction of quotations in the area of prices of $0,2100.
Sale IOTA from the current price level with targets of $0,2940 and $0,2670. To protect the open short positions should not orders below $0,3130.
Trading recommendations are not a reference to action. Following the recommendations, you assume all associated risk of loss.
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