During the current session, the Altcoins partially recovered the losses from the sales of the past day.
EOS / USD
During the last session, under the pressure of sales, the EOS token reached a value of $ 2.1830 at a price correction level of 61.8%. The sharp increase in cryptocurrency purchases from the level of the new January minimum indicates a consolidation of sufficiently large volumes of buyers to protect the key price level in the short term.
Over the past 24 hours, the bulls have formed a temporary support level at $ 2.2220. At the time of the market review, the EOS / USD pair is trading at $ 2.3170, with quotes rising to the closest target of buyers at a correction level of 50.0% – $ 2.3790.
The pattern of price movement indicates the situational advantage of bulls on the EOS market. It is expected that the resistance to daily growth of the EOS / USD pair will meet at a dynamic level, formed on the line EMA30 with the current value of $ 2.3610.
The values of the relative strength index remain in the sales area, the RSI14 line is turning down, giving an early signal of a likely reversal of the current upward movement.
Short-term sales of EOS at a price rebound from a dynamic resistance level with targets of $ 2.3240 and $ 2.2710 are recommended.
XLM / USD
Stellar is one of the few altcoins that were falling today in sync with the bitcoin market. A new historic low cryptocurrency prices fixed at $ 0.0820.
At the time of the market review, the XLM / USD pair is trading at $ 0.0860 with an increase in quotations. Cryptocurrency buyers have partially recovered session losses and are seeking to regain control over the price above the key support level of $ 0.0873.
The value of the relative strength index is in the sales area, the RSI line is directed upwards, but on the four-hour XLM / USD chart with the RSI14 indicator there is a bearish divergence, which in turn indicates a high probability of a short-term upward movement.
Stellar sales are recommended at a price rebound from the key level of $ 0.0873 with short-term targets of $ 0.0850 and $ 0.0820.
ADA / USD
At the January 29 Cardano auction, the bulls confirmed support for the cryptocurrency price above the correction level of 78.6% – $ 0.0359. The session minimum of the ADA / USD pair is fixed at $ 0.0365.
At the time of market analysis, altcoin is trading with an increase in quotations, at $ 0.0389.
On the short-term timeframes, a “double bottom” pattern was formed with a target level at the level of $ 0.0410. In the event of a breakdown of sales resistance at a local level of $ 0.0387, you should consider the probability that sellers consolidate significant volumes on sales at a dynamic level along the EMA30 line with the current value of $ 0.0399.
Also, the probability of a price reversal is indicated by the formation of a bearish divergence on the four-hour ADA / USD chart with the RSI14 indicator.
Cardano sales are recommended at the price reversal from the dynamic resistance level in the area of $ 0.0399 with targets of $ 0.0375 and $ 0.0360.
IOTA / USD
From the point of view of technical analysis, the situation on the IOTA market is identical to the position on the Cardano market. On the lower timeframes of the IOTA / USD chart, a “double bottom” pattern was formed, bulls on the cryptocurrency market also pulled the price to the local resistance level of $ 0.2628.
At the time of the review, the current IOTA price is set at $ 0.2607. The value of the RSI14 indicator remains in the area of sales, confirming the bears' pressure on the price of cryptocurrency. The RSI line tends to turn down, which enhances the downside signals for the short-term exchange rate of cryptocurrency.
IOTA sales are recommended from the current price level with targets of $ 0.2564 and $ 0.2525.
Trading recommendations are not a guide to action. Following the recommendations, you assume the associated risk of loss of funds.
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