“Oversold” altcoins IOTA and Cardano at the auction on 17 January will be in high demand.
During the current session, the EOS token is traded with minimal volatility in the price range of $2,4800-2,4200. At the time of the review of the market the pair EOS/USD is quoted at $2,4626.
Temporary support scriptactive price of bulls form the dynamic level of the moving average line EMA14 with the current value of $2,4587, above the level of the price correction 50,0%-$2,4246.
Values of relative strength index are high in the field of purchases, in the ratio with a slight increase in the price of the token indicates the likelihood of a rollback of quotations from the level of their session high at $2,5089.
Given the low activity of the parties on the bid pair EOS/USD, we should expect that the lowering of the tool will be stopped in the area of prices of $2,4240.
Short sale EOS with the least risk are recommended from the level of $2,5080 with order $2,4640 and $2,4240.
Given the major bearish trend, it should monitor price action at the support level of $2,4240, as a sharp increase in sales of EOS/USD will give a signal for sales of the cryptocurrency at the break level.
From 10 January the price of Stellar is firmly established in the range of $0,1142-0,1052, the boundaries of which are formed according to the levels of the price correction of 61.8% and 78.6%, respectively.
At the time of the review of the market the pair XLM/USD is trading in the neutral zone week range of $0,1090, with support from buyers on the line EMA14 with the current value of $0,1086.
Values of relative strength index increase, the line of RSI7 is directed upward and crosses the neutral level on the chart. General data technical indicators point to the low trading activity of the parties with a slight advantage to buyers.
Not excluded the growth of quotations pair XLM/USD to the level of the session high price at $0,1107 their subsequent pullback to at least the local support level of $0,1080.
Today the bulls in the market Cardano persistence in trying to overcome the resistance of the sales at the key level, which is formed by the line of the price correction 38,2%-$0,0453. It should be noted that during today’s trades the buyers have fully restored the loss in value of the cryptocurrency at the auction on January 15.
At the time of the review of the market the pair ADA/USD is quoted at $0,0452. Support the price of the cryptocurrency has EMA14 moving average with a value of $0,0440. It is expected that in the case of correcting the short-term uptrend Cardano, buyers will support the price of the cryptocurrency at the indicated level.
Data of relative strength index are high in the purchase line RSI7 turns down from the border with the overbought, which should be regarded as a signal of the beginning of the price adjustment.
At the time of market analysis IOTA is trading at $0,3085 with growth of 2.45% against the level of rates $0,3005 at the opening of the current session. Analysis of the four-hour schedule IOTA/USD confirms that the main resistance to the bears formed on the line of the price correction 50,0%-$0,3078 that buyers currently have successfully overcome.
In case of confirmation of breakout of the resistance level, for this purpose, as a minimum, the session should be closed quotes above $0,3078, could increase the price IOTA to $0,3240 on the mirror level.
The current growth is only considered as a correction of the descending wave of 10 January, however, stabilising above, the bulls will significantly reduce the risks of a collapse in the price of IOTA/USD below critical medium-term uptrend of $0,2840.
Trading recommendations are not a reference to action. Following the recommendations, you assume all associated risk of loss.