Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Litecoin, Cardano, Stellar, TRON: Price Analysis, May 25

pubblicato su by Cointele | pubblicato su

43.ETH/USDEthereum fell to the 61.8 percent Fibonacci retracement levels of the recent rally on May 24.

On May 24, it attempted to bounce off the supports but met with selling pressure at higher levels.

If the $0.56 level breaks down, a fall to $0.45 is likely.

BCH/USDBitcoin Cash has completed a breakdown from a head and shoulders pattern that has a lower pattern target of $650. However, for the past two days, the bulls are trying to provide support at the $1,000 levels.

EOS/USDEOS is trying to rebound from the $10 levels but is facing stiff resistance at the top trendline of the descending channel and the 50-day SMA.If the bulls succeed in breaking out of these overhead resistances, long positions can be initiated.

Traders can wait for the price to scale above the moving averages and the recent swing high of $14.19 on May 20.

ADA/USDCardano is looking weak because the pullback attempt from the $0.19 support level on May 24 did not sustain the higher levels.

If the price slides to $0.13 and holds, it will confirm the formation of a large range, which can be traded by buying on a rebound from the lows and selling close to the upper end of the range.

Traders should keep a close stop loss, preferably below the recent lows because if the break out fails to find buyers at higher levels, the digital currency can slump to $0.184 levels.

We want to see buying emerge at the critical support levels before recommending a long position because if the support zone breaks, the TRX/USD pair can plunge to $0.04 levels.

x