The last week has seen some gains in the cryptocurrency market being shed across the board. However, for the last 72 hours, some coins are showing some stability signs. Cardano (ADA) Stellar (XLM) and IOTA (MIOTA) have not been spared. Generally it is about time investors treat cautiously and use due diligence.
With no market consensus after the 2018 Consensus Conference in New York, the current bull run might take a while to materialize. Investors are still on the sidelines eyeing the Capital Venture Firms to start pumping some capital in the market. This is the much awaited boost that should have a ripple effect cross the crypto-sphere. Here is a snap shot of three of the top ten coins by market capitalization.
Technical Analysis Cardano (ADA) May 25, 2018
Cardano (ADA) has been on a roller coaster streak for the last one week and continues to trade on the red in the last 24-hours. The coin is down 1.32% against the dollar to trade at 0.207865. The coin is down 13.08% down in the last 7 days, the current market cap stands at 5.4billion with a trading volume of 125.8 million in the last 24-hours.
After listing on Cryptopia exchange, the medium trend remains bullish after the bears hit their $0.200 target demand zone thus pushing ADA to a new $0.1920 demand zone. With the bulls coming back and traders should wait longer and anticipate a breakout before taking a position.
Low activity around ADA could be attributed to the long awaited migration scheduled by end of Q3. This is the MainNet decentralization which will give investor confidence on the platform and act as a catalyst for a breakout for the coin.
Technical Analysis Stellar (XLM) May 25, 2018
Stellar (XLM) has been acting is stellar part in the market for the last seven days. Though growing its exchange base, it is currently ranked 7th with market capitalization of $ 5.5 billion, XLM is trading at $0.288934 after losing 0.33% against the dollar and gaining 1.30% to BTC to trade at 0.00003845
XLM has been trading on the bearish zone after shedding 5.20% in the last 7 days. However, the coin has 4-year high cumulative return of over 8650% giving it a better change of hitting the $1 mark by end of July. The last 24 hours have seen a total of $4.44million worth of XLM exchange hands with Binance pushing over 29.8% of the total volume.
Technical Analysis IOTA (MIOTA) May 25, 2018
IOTA (MIOTA) is ranked 10th by market cap and is among the ten coins that have been trading in the green for the last 24 hours. With a market capitalization of $4.19 the coin down trend seems to be reversing despite the recent negative media.
MIOTA is currently trading at $1.51 with marginal gains of 1.40% and 4.10% against the dollar and BTC to trade at $1.51 and 0.00020341 BTC respectively. The last seven days has MIOTA slipped by 8.70% against the USD which is an upper hand for sellers given the RSI are moving down.