Price analysis Ethereum (ETH), XRP (XRP) and Cardano (ADA) – Crypto Recorder


Market overview

Bulls are back on the market, in addition to most coins and altcoins exchanging green on Thursday. Experienced analysts such as Brian Kelly of the CNBC insinuano that you can trust the rebound of the market. He also said that the rebound of the altcoins is related to the increase in the price of Bitcoin, which had fallen below $ 6,000 at the start of the week. Most businesses are seeing a 2% increase in value over the day with the Ethereum classic rising due to trading on the Coinbase Consumer platform. The NEO is also up more than 7% while trading at $ 16.8 at the time of writing.

Price Analysis of Ethereum

Yesterday's trading saw a short-term correction that went on stage above $ 260. The ETH / USD traded hands over the resistance lines at $ 275 and $ 285 while it continued to gain momentum. The price was also adjusted above the 50% Fib retracement level with a maximum of $ 322.5 and a minimum of $ 249.09. The ETH / USD rose further by exceeding $ 300 but lost momentum on trading highs slightly above $ 305.

Significantly, lower corrections followed where Ethereum cut gains below the 50% level. Fib with the last maximum of $ 322.5 and a minimum of $ 249.09. However, the bulls have made their best breakthrough by preventing the decline of around $ 280 with a support set at $ 277. If Ethereum drops below this level, it could test resistance before $ 275 and Fib 23.6 retracement level. % to $ 265.

A look at the chart shows positive signs above $ 290 but buyers have to push the price over the $ 300 obstacle and preferably find a support above the previous maximum at $ 305. [19659005] XRP (XRP)

Since the dive he saw XRP exchanged for $ 0.25 primary support. The cryptocurrency has traded higher and lower highs. The breakthrough above the Fib 23.6% retracement level with the last high leg of $ 0.304 and a minimum of $ 0.244 paved the way for more movements to the north. The XRP / USD rose above the current support at $ 0.280 and continued the pullback above $ 0.30.

However, buyers failed to keep the price on trade highs of $ 0.304. Bears found a voice in this position and the price reacted lower than $ 0.290 and $ 0.280 respectively. The 50-day moving average and trend line support, both coinciding with the 61.8% Fib level, prevented further breakdowns.

The XRP rebounded above $ 0.280 but found sales pressure slightly above $ 0.290. The outlook for this digital asset is slightly positive. However, a break above $ 0.30 will allow buyers to focus on other higher levels. $ 0.280 is still a support area, but a break below $ 0.270 could see XRP / USD testing primary support at $ 0.25.

Cardano price analysis

The price of Cardano has recently broken the support of the contract triangle to $ 0.11. This move opened Pandora's box as the bears massacred the bulls. The decline pushed Cardano even lower under $ 0.090. The ADA / USD recorded lows around $ 0.086 before the malcontent bulls would stop talking and fight with their nails to bring the price back.

The crypt broke out of the short-term wedge resistance to $ 0.09 and changed hands over $ 0.10. It has reached peaks of $ 0.0101, but has been corrected lower in case of failure to sustain the uptrend. Declines found support slightly above $ 0.090 and embarked on another rise above $ 0.095.

The Stochastic is advancing north, signaling that buyers have control. A look at the chart reveals that the ADA / USD trend is still bullish, but buyers must struggle to recover support over $ 0.10. The 100-day moving average will limit upward gains while the key resistance is $ 0.110.

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