Overall, traders are bullish and expect prices to break through the key resistance line as ADA/USD and EOS/USD begin to gain traction. This could indeed happen, given that the possible launch of a Bitcoin ETF will not only boost the price of Bitcoin, but also the growth of altcoins.
Let's look at the charts:
EOS/USD
At the moment, the price of EOS is fluctuating in narrow price ranges on weekly and daily time frames. Experienced traders see this as an opportunity to buy dips on lower time frames. We maintain a bullish forecast and, if the price does not fall below $4.5 or $4, we expect the price to rise to $7.
ADA/USD
According to the statement Charles Hoskinson, founder of the Cardano platform, the Trezor hardware wallet will add ADA support in the near future.
According to our trading plan, we remain neutral as the price of ADA is currently fluctuating in the 1 cent range. Our plan is for ADA to break through the resistance line at 9.5 cents.
If ADA price breaks the major resistance line at 12 cents, conservative traders can buy the dips and target 20 cents.
XMR/USD
Even though the Monero price is trying to show gains at the moment, I recommend taking a neutral position until the bulls push the price above the $120 resistance line. More aggressive bulls will target the $150 mark, which is another important buy signal.
However, any price drop below the $100 mark will signal the first wave of selling with targets at $70 and $30 if the momentum is strong enough.
According to newsbtc.com
You May Also Like
Analysis of ADA and IOT as of November 29, 2018
Despite the recovery of the altcoin market, the price of many of them has still not broken through resistance levels - IOTA is one of them. According to our previous plan, we should take operational positions in the Cardano (ADA/USD) market, since it will have bullish support - high trading volumes - if the conditions we set are met.
Brief analysis of the situation on the crypto market over the past week
Miners are dealing with the low price of BTC, with Core Scientific selling over 7,000 BTC in June. Hut8 now has 5,800 farms in Ontario and claims that all BTC will be frozen. The analysis was prepared by KickEX exchange analysts
