Altcoin markets will be dominated by bearish trends on February 6.
EOS / USD
During the current session, the EOS / USD quotes are balanced at the level of the opening of the day $ 2.4154. Testing support prices at a dynamic level of $ 2.3967 confirmed market interest in the cryptoactive, as indicated by the long lower shadow of a four-hour candle.
At the time of the market review, the EOS / USD pair is quoted at $ 2.4056. The price is supported by the moving average EMA30 with the current value of $ 2.3980, the value of the relative strength index is in the area of purchases and the indicator line is turning up from the neutral level.
Technical indicators confirm the advantage of buyers in the short-term EOS token market. It is expected that on February 6, at the EOS auction, the bulls will attempt to break through sales resistance at the local level of $ 2.4320 with the likelihood of short-term growth of quotations to $ 2.4780 at the first key level.
Short-term token sales are possible at a price rebound of $ 2.4780 with targets of $ 2.4420 and $ 2.4250.
XLM / USD
From February 2, Stellar is dropping at a measured pace, with no market support. At the time of the review, the XLM / USD pair is trading at $ 0.0773 with a decline from the first key support level of $ 0.0790.
The nearest target of the bears is at the support level of $ 0.0754, and at the moment there are no signals on the market to reverse the short-term downtrend.
The current Stellar price is below the moving average EMA30, the value of the relative strength index is in the sales area and the RSI14 line is down.
Sales for the XLM / USD pair are recommended from the local resistance level of $ 0.0780 with targets of $ 0.0760 and $ 0.0750.
ADA / USD
From February 3, the bears increased the pressure on the Cardano price. The nearest resistance level to the growth of quotes is formed on the descending line of the moving average EMA30 with the current value of $ 0.0380. At the time of the market review, the ADA / USD pair is trading at $ 0.0373 with the recovery of quotes from the session minimum price of cryptocurrency at $ 0.0370.
Obviously, the nearest target of bears is at a key support level of $ 0.0366. From January 28, buyers defended the designated level twice, dramatically increasing Cardano's purchases and, only if the breakdown of support was supported by a strong downward impulse, will allow the bears to develop a medium-term downward trend.
Sales of Cardano with the lowest risks are recommended at a price rebound from the dynamic resistance level of $ 0.0380 with targets of $ 0.0370 and $ 0.0360.
IOTA / USD
During the current session, sellers defended their positions at a key level of $ 0.2600. At the time of the market review, the IOTA / USD pair is trading at $ 0.2575.
The cryptoactive price is exerted by the moving average EMA30 with the current value of $ 0.2591. The data of technical indicators indicate the advantage of bears in the short-term cryptocurrency market.
We believe that in the morning trading in the IOTA / USD pair, instrument quotes will continue to decline to at least $ 0.2510 at a ten-day support level.
Trading recommendations are not a guide to action. Following the recommendations, you assume the associated risk of loss of funds.
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