The failure of the RSI to rise above the 50 levels also adds to the negative sentiment.
We shall turn bullish after price rises above the 20-day EMA. Until then, we suggest traders to remain on the sidelines.
The traders can buy once price reaches $630, with a stop below $570. The target objective of this trade is a rally to $745. There is a minor resistance at the 50-day SMA but we expect it to be crossed.
On the downside, it has strong support at $115, and below that at $107 levels.
ADA/USDCardano has been trading near the $0.23 levels for the past three days but has not triggered our recommendation to buy on a close above $0.23.The moving averages have flattened out, which points to a range-bound action in the short-term.
Even if the $0.23 level is crossed, the ADA/USD pair might again face resistance at $0.263 and $0.286 levels.
On the downside, the support is at $0.17 levels.
The only small positive is that it has not given up much ground after returning from the 20-day EMA on June 04.We suggest to hold the long positions that triggered on June 03 but the stops should be trailed higher to just under $0.27 because the 50-day SMA is flat and the 20-day EMA is turning down, which is a bearish indication.
If the XLM/USD pair breaks out and closes above $0.303, it should move up to the 50-day SMA at $0.346 and above that to $0.38 levels.
IOTA/USDThough IOTA has held above the critical support at $1.63 for the past two days, it is struggling to stay above the 20-day EMA, which shows lack of buying support at the current levels.
Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Litecoin, Cardano, Stellar, IOTA: Price Analysis, June 06
Publicado en Jun 6, 2018
by Cointele | Publicado en Coinage
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