At the auction on February 12 Altcoins are traded in different directions, amid the uncertainty of the short-term course of Bitcoin.
EOS / USD
At the time of the market review, the short-term trend of the EOS token is classified as ascending. The EOS / USD pair is trading with support on the upward moving average EMA14 with the current value of $ 2,7994.
The session maximum price of the token is fixed at $ 2.8984. On the four-hour chart of the EOS / USD pair, an “ascending triangle” pattern has been formed with the upper limit at $ 2.9000 and the target level at $ 3.1000.
Given the proximity of the first key resistance level S1- $ 2.9297 to the upper border of the pattern, we can expect that the bulls will be able to break through the high density of sales volumes only with a strong upward price impulse.
The relative strength index data confirms the advantage of EOS buyers in the short-term cryptocurrency market: the value of the indicator has been consistently maintained in the purchasing area since February 8;
EOS purchases are recommended with short stops, at a price rebound from the dynamic support level formed along the EMA14 line. Goals for long positions are $ 2.9800 and $ 3.0680.
XLM / USD
Analysis of the four-hour chart XLM / USD confirms that since February 10, the bears have increased the pressure on the price of the currency pair. At the time of the market review, Stellar is trading at $ 0.0771 with a decrease in quotations towards the second key support level of $ 0.0755.
Resistance to short-term growth of a pair of sellers form on a descending line of a short moving average EMA14 with the current value of $ 0.0786. From the first day of the current trading week, the price of altcoin remains below the level of the reversal of the short-term trend.
The values of the relative strength index are held in the sales area, the RSI14 line is turned down, which strengthens the downward signals for the short-term course of the XLM / USD pair.
Short-term sales of Stellar are possible from the level of $ 0.0786 at the dynamic resistance level, with targets of $ 0.0772 and $ 0.0755.
ADA / USD
At the time of the Cardano market review, the bears are testing the support of the cryptocurrency price at the level of a short-term trend reversal with a $ 0.0403 four-hour chart on the price scale. The ADA / USD pair is quoted at $ 0.0405, the session minimum price is fixed at $ 0.0401.
Cardano’s current price is under pressure from the short moving average EMA14 with a current value of $ 0.0408, which confirms the dominance of bears in the short-term coin market.
However, there is a high likelihood of short-term growth in the ADA / USD pair quotes, since the value of the relative strength index is consistently maintained in the purchasing area, the RSI14 line is turning up from the neutral level on the indicator chart. Boost signals are enhanced by bullish divergence on the four-hour chart with the RSI14 indicator.
In the case of a bull scenario, a short-term rise in the price of a cryptoactive asset is possible at least to the level of $ 0.0420 at the local resistance level.
IOTA / USD
During the past 24 hours, the bears “pushed through” the IOTA price below the level of the reversal of the short-term trend at $ 0.2739. The session low of the altcoin price is fixed at $ 0.2663.
At the time of the market review, IOTA / USD is listed at $ 0.2742. Bears are testing resistance at the pivot level, and in case of a price breakout, we should expect the pair to reach the local resistance level at $ 0.2800.
The relative strength index data confirms the growth of customer activity, as the indicator values quickly recovered in the field of purchases, the RSI line is directed upwards.
Trading recommendations are not a guide to action. Following the recommendations, you assume the associated risk of loss of funds.
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