Cardano (ADA) broke through the resistance line at $0.1650 and is currently strengthening itself in the region.
Stellar (XLM) has crossed the $0.2999 resistance line and is strongly going green.
Cardano (ADA/USD)
Price Analysis
- High: $0.175827 USD
- Low: $0.155261 USD
- Major Resistance Level: $0.20
- Hourly MACD: Placed slightly in the Buy region and progressing.
The ADA/USD pair had already crossed the $0.1550 resistance yesterday against the US dollar. Today, the resistance line at $0.1650 was also crossed by the pair and Cardano (ADA) is currently trading at $0.1693 against the US dollars. (At the time of writing, as of 24th July 2018) Cardano has been showing largely an uptrend now for the past few days and is currently featuring a green candle. The price had fallen largely on 20th July 2018 and had at one point went below the $0.16 level. The moving average (blue line) presently marks at 0.1687 and this indicates that the price action of the ADA/USD pair is most likely to continue to show an uptrend. This is good news for the cryptocurrency world as most of the crypto coins including Cardano had been showing downtrends mostly since early 2018.
Now, it is to be seen whether the cryptocurrency strengthens itself in the $0.17 level and can beak the major resistance level at $0.18 in near future. At the moment the bullish signs are all positive with the technical analysis from Trading View placing the coin in the Buy zone.
Stellar (XLM/USD)
Price Analysis
- High: $0.3015 USD
- Low: $0.2810 USD
- Major Resistance Level: $0.3250
- Hourly MACD: Placed slightly in the Buy region.
Since 13th July 2018 Stellar Lumens (XLM) had been showing quite a strong uptrend and at the moment too the XLM/USD pair is featuring green candle. In between, on 20th July, the crypto coin had seen a drop from $0.3300 high on 19th to $0.2626 low. However, the next day the buyers took an interest and pushed the price of the coin to a high of nearly $0.2971. At the time of writing, Stellar Lumens is trading at approximately $0.2978 against the US Dollar. (As of 24th July 2018) The moving average (blue line) is presently marking at 0.2810.
Going by the past few days’ price action as shown by the given Trading View chart, and the present moving average, there is a chance of Stellar Lumens breaking the $0.31 major resistance line against the US dollar. The technical analysis from Trading View currently places the XLM/USD pair in the Buy zone. This too shows that the pressure is currently on the buyers and the scenario is more likely to continue unless there is any major negative cryptocurrency news. Other than that, the crypto coin so far today has been going strong.
Both Cardano (ADA) and Stellar Lumens (XLM) are sporting green candles so far today. As observed from the trading charts from Trading View, the price action of the coins are currently showing positive signs.
Happy Trading~
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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.
Image courtesy of Pexels
Charts courtesy of tradingview.com
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