Cryptocurrencies are not expanded upwards. While that slowed the fall. Trends, for the most part, the fracture is not given in dynamics in the last 7 days among the top cryptocurrencies, only two of them — Ethereum and TRON came out in the plus (+2,67% +1,54%, respectively).
In leaders of falling at the end of the auction in the last 7 days Bitcoin is Cash (-14,4%), Stellar -11,3%, and Cardano, as usual in third place, with losses of 9.9%. Since the beginning of the trading day may 20, more than 5% gain TRON, EOS, Bitcoin Cash. IOTA, Ripple and Ethereum in the black by more than 3%.
For reversal, or completion of the correction the market needs time. Very rarely the market is reversing two days, when one day the price of flying, for example, quickly down, and the second day on the contrary sharply back up. We know that this is possible in the period of news release, not otherwise. Needs to be trigger this situation. And in those periods when background moderate reversal after the correction will be slow, quiet. The output of the previous trends possible outset. Right now, for example, Bitcoin is strong local support found — $8093. Expect a breakout trend from may 5 to be tested from the back side, and then the market will be able to try to restore growth to $8540.
In any case – I draw your attention to the fact that the breakdown of trends was held on may 5. In the next 2-3 days, if not there will be updates at least $7900 price has a chance to grow.
EOS/USD purchases after $16
There is no expectation that the asset already unfolded. Yet the dynamics within the downward movement. Still does not rule out falling to $11,000 after the breakdown of the $12,000. Two days of growth have not yet changed the General sentiment. Definitely buy start after a strong buyer take the price above $16,000.
ZECUSD drops to $260
Closed shop yesterday? Took profit? Great. Now waiting for a market correction to the level of $260 for new purchases.
XMRUSD — buy waiting for $160
While there is no change of sentiments – sale priority. Actions on the market, the following purchases may be opened if the price will go above $198 target to $211. Second scenery that now the price will go to $184,6. Or hang down already before tonight, or after testing resistance at $198.
BTCEUR, closer to the pivot than Bitcoin
Operate on the principle of breakout trend since may 5. Technically a logical purchase to the level of €7400. Breakout trends 5 believe may signal the end of the may correction down.
Maria Salnikova, an independent currency strategist, especially for CoinSpot
My channel for traders with trading signals in real time: http://clc.la/mariacoinspot
The review reflects the subjective position of the analyst Coinspot subject to personal trading style. Trading operations with cryptocurrency are increased risks due to the nature of the market. The editors are not responsible for your trading decisions and recommends trading only to those funds, the loss of which will not be critical.