On the first day of the trading week, the prices of the largest altcoins slid to key support levels. The trigger of the current decline in cryptocurrency was the collapse of the etirium below the two-week support level.
EOS / USD
In the first hours of Asian trading on March 4, the EOS token broke through support in the range of $ 3.4700-3.3960, above which the bulls kept the price of cryptocurrency from February 24. Session minimum coin price recorded at around $ 3.1534.
At the time of the market review, the token is trading at $ 3.2851. An analysis of the daily EOS / USD chart shows that bulls form price support at a dynamic level along the EMA100 moving average line with the current value of $ 3.2700.
In the event of a breakdown of support at a dynamic level, we should expect a decline in EOS / USD quotes to the historical level of $ 3.0435 on the Fibonacci retracement price line 50.0%.
To reduce the risk of a collapse in price, EOS buyers need at least until the end of the current session to keep the price above the dynamic support level of $ 3.2700 and for the next 48 hours to consolidate above the pivot $ 3.4700.
XLM / USD
At the end of the morning trading on March 4, the bears swallowed support for the Stellar price at the reversal level of the medium-term trend of $ 0.0865 and fixed a new five-day minimum at $ 0.08150. At the time of market analysis, XLM / USD is quoted at $ 0.0836.
The short exponential moving average EMA14 puts pressure on the current cryptocurrency price and increases sales resistance at the pivot level. The values of the relative strength index are in sales, the RSI14 line is downward.
Analysis of the daily chart XLM / USD shows that the bulls managed to form a temporary support for the pair at the mirror support-resistance level of $ 0.0830. A breakout of this level will open up to Stellar sellers the space to move to the nearest target at the first key support level of $ 0.0770.
In the event that the bulls fail to restore the price above the local resistance level of $ 0.0845 before the current session is completed, Stellar sellers will have the opportunity to increase the volume of coin sales, with the immediate goal at $ 0.0790 for short-term deals.
ADA / USD
Cardano price in the short-term market has remained under pressure from sellers since sales on February 24. The opening of trading on ADA / USD on March 1 with quotes of $ 0.0427, below the mid-term trend reversal level of $ 0.0430, strengthened the signals for the pair to decline.
At the time of market analysis, ADA / USD is quoted at $ 0.0401 with a daily loss in price of just over 4%. The session minimum of the cryptoactive asset price is fixed at $ 0.0392 of the mirror level of support-resistance.
At the level of $ 0.0405, correctional growth of the pair came up against sales resistance and, probably, for the next 24 hours, the bears will attempt to break through support at the historical level of $ 0.0392.
Considering the data of technical indicators, on March 5 trading on Cardano, we should expect the development of a bearish trading scenario with a decrease in instrument quotations to the price range of $ 0.0380 at the first key support level.
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