The correction of the short-term downward wave continues in the markets of the largest altcoins.
EOS / USD
Since February 24, after the collapse of EOS from a four-month high at around $ 4.5370, the price of the token stabilized in the range of $ 3.6880-3.4000. At the time of the market review, the EOS / USD pair is quoted at $ 3.5051.
An analysis of the four-hour chart shows that bulls are ready to buy large amounts of cryptocurrency from the dynamic support level formed along the EMA100 moving average line with the current value of $ 3.3990.
In turn, resistance testing confirms the concentration of large volumes of EOS / USD sales above a weekly pivot of $ 3.6850.
The nature of the cryptoactive price movement indicates the uncertainty of disruption in the short-term coin market. The value of the relative strength index is maintained in sales, the RSI14 line is flat and horizontally directed, which confirms the short-term market equilibrium. If the EOS price is out of the range of $ 3.6880-3.4000, it will determine the direction of movement of the cryptocurrency quotes in the medium term.
XLM / USD
The XLM / USD pair found temporary support at a historic level of $ 0.0840. The bulls made an attempt to consolidate above the $ 0.0880 pivot, however, at the $ 0.0900 mirror level, we encountered strong sales resistance, and without sufficient support, the Stellar price retreated to the area of local minima again.
At the time of analyzing the market situation, altcoin is trading at $ 0.0868. The price is testing the resistance at a dynamic level, formed along the line of the moving average EMA100.
The breakdown of sales resistance at the indicated level will bring the price of the coin to a strong impulse above the level of the reversal of the short-term trend. If the bulls fail to absorb Stellar sales in the range of $ 0.0868-0.0880, the price of the coin will drop at least to the local support level of $ 0.0843.
ADA / USD
At the time of market analysis, Cardano is trading at $ 0.0427 with an increase in quotes from the dynamic support level of $ 0.0423, formed along the EMA200 moving average line.
From the beginning of the trading week, the quotes of the ADA / USD pair remain below the level of the reversal of the short-term trend. Nevertheless, the bulls will retain the technical ability to restore the medium-term uptrend, keeping the price of the coin above the strong mirror level of $ 0.0420.
Low risk Cardano purchases are recommended only after resistance breakdown on the weekly pivot $ 0.0444.
Trading recommendations are not a guide to action. Following the recommendations, you assume the associated risk of loss of funds.