Price Analysis: XRP heading down, EOS preparing for a slump while ADA about to jolt up

XRPUSD

On the daily XRP/USD chart, XRP is stuck in a sideways channel of long term support of $0.29 and resistance at $0.36.

Right now, the price is sitting at the MA200 that is acting as a support zone. On the 4h chart, XRP is moving in a very tight range with Bollinger Bands squeezing it narrower and narrower, foretelling a big move, up or down. Since the volume is very weak and secondary trend is down, it is more likely XRP sinks to the $0.29 hard support.

EOSUSD price analysis

Looking at the weekly chart, EOS has entered a long-term bull trend with the clear upwards moving trendline.

However, zooming in on the daily timeframe, EOS has seen a bullish cross of MA50 and MA200 and the price is currently floating around a long-term support/resistance zone of $5.15. There is a contraction on the BBands which in combination with a low volume indicates an imminent move downwards.

ADAUSD Price analysis

ADA has seen some nice gains in the recent couple of weeks and the price is in a both secondary and minor bullish trend. There is descending triangle formation on the 4h chart which could indicate a potential jolt up to the next resistance level of $0.10 which is a long term support and resistance zone for ADA.


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CaptainAltcoin's writers and guest post authors may or may not have a vested interest in any of the mentioned projects and businesses. None of the content on CaptainAltcoin is investment advice nor is it a replacement for advice from a certified financial planner. The views expressed in this article are those of the author and do not necessarily reflect the official policy or position of CaptainAltcoin.com

Torsten Hartmann has been an editor in the CaptainAltcoin team since August 2017. He holds a degree in politics and economics. He gained professional experience as a PR for a local political party before moving to journalism. Since 2017, he has pivoted his career towards blockchain technology, with principal interest in applications of blockchain technology in politics, business and society.

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