On the markets of major altcoins bears retain situational advantage.
EOS/USD
At the time of market analysis the EOS token is traded for $2,6000 above the dynamic support level which buyers formed a line moving average EMA14 with the current value of $2,5560 calculated for the day period.
In this session bidding on a pair of EOS/USD was conducted amid some of the advantages of buyers. However, after the false breakout of the resistance at the key level of $2,6945 the sellers increased the volumes of open short positions, which led to a rollback of quotations.
There is a possibility that under condition of preservation of stability in the bitcoin market a couple of EOS/USD continues consolidating in a horizontal range of $2,5500-2,9000.
Higher remains a possibility of breaking the support price at $2,5560. If the bears will absorb the volume of sellers at the indicated level, we should expect lower prices EOS to $2,3000 on the local level of support.
XLM/USD
The bulls on the market today Stellar has failed to keep the price of the cryptocurrency above the weekly pivot at $0,1216.
The analysis of the four-hour chart the pair XLM/USD shows that the volume of sales of scriptactive bears form a line moving average EMA14 with the current value of $0,1240.
Values of relative strength index in sales, but the line RSI14 has a tendency to turn upward, indicating that the upcoming attempt by buyers to overcome the resistance in the narrow range of $0,1216-0,1240.
The Stellar sales are the likely bounce of dynamic resistance level, with targets for short positions $0,1210 and $0,1160.
ADA/USD
Sessional maximum prices Cardano recorded at $0,0444, which quotes cryptocurrencies in the current session re-rolled to the divergent trend rates at $0,0407.
Buyers confirmed the price support on the weekly pivot and likely to the end of the day will attempt to increase the volume of purchases and to overcome the resistance of the sales on top of the price range of $0,0438.
Short sale Cardano with the least risk are recommended in case of breakdown sellers support prices at the level of a trend reversal with targets of $0,0390 and $0,0380. To protect a short position should be feet not below $0,0410
IOTA/USD
During the last trading session sellers managed to overcome support prices IOTA on the level of reversal of the medium-term downtrend. Attempts of bulls to regain control of the price above pivot only confirmed the advantage of the current sellers in the market.
At the time of the review of the market the pair IOTA/USD is quoted at $0,3290 with the decline of quotes to the local support level of $0,3240.
Data of the relative strength index indicates preserved among the buyers IOTA the potential for recovery of the upward movement of cryptocurrency. However, in the case of capacity bears in sales likely is a break out of support prices at $0,3240.
In this situation we should expect a reduction in the price of the cryptocurrency to $0,3120 at the next dynamic level of support EMA14.
Trading recommendations are not a reference to action. Following the recommendations, you assume all associated risk of loss.
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