Crypto Price Analysis
Over the weekend, crypto market capitalization has regain over $50 billion.
We are currently $30 billion short from retouching the same market valuation we had last week prior to selloff.
To decide if the uptrend will continue or whether a short-term reversal is around the corner, let’s examine the DOT, ADA, BTC, ETH, XRP and XLM cryptocurrencies.
Video crypto price coverage
XRP has touched 2 times the resistance level of $65 cents for the past few days on several occasions. As long as XRP stays above the $57 cent support level, XRP is on track to make a breakout and exceed $65 cent and reach $70 cents.
Currently, XLM appears to keep the price above the $19 cent support level. XLM will most likely try to break the 22 cents resistance level in the upcoming days. Failure to stay above the $22 cent resistance level will push back the price to $19 cent range.
ADA was able to break the previous resistance level of $14.4 cents. The current new resistance level is $17 cents. With the current momentum, ADA will probably try to have a breakout above the resistance level.
In case of major selloff like the one we had last week, $12 cents support level will withstand such scenario unless the market become bearish completely,.
LINK is currently holding well above the $12 support level. Chainlink is on track to break the first resistance level of $14 cents. Link will try to maintain a price above $14 dollar before trying to break the next resistance level of $15.
ETH had strong breakout of the $525 resistance level. ETH currently trading around $586. Ethereum will need to stay above the support level for the next few days. During this consolidation period, ETH will try on several occasion to break the resistance.
Bitcoin was able to finally break the resistance of $17400. It is currently trading above the moving average.
In order for BTC to break the next resistance level $19270, it need to consolidate around $18500 for the next few days. Any failure to consolidate and stay above $18500 will push the price below $18500.
Polkadot was able to finally break the resistance of $5.2 It is currently trading above the moving average.
Dot will to consolidate around $5.5 before he can try to break the next resistance level. Any failure to consolidate and stay above $5.5 will push the price below $5.2
The viewpoints and opinions expressed here are solely those of the author and do not necessarily represent the views of Cryptostec. Any investment and trade move involves risk. When you make a decision, you can do your own analysis.