CoinFinex Daily Market Review for 11.10.2018

Stellar – XLM/UST

Stellar like the other cryptocurrencies is moving higher and very close to the resistance line. The current price of XLM/UST pair is 0,24$ . It is expected that the bears will try to break the support line which is on the same level with the 20 day EMA and if this happens the next support will be at 0,21$ and 0,18$ . On the other side the bulls have to push the cryptocurrency above 0,26$ in order to open the way to 0,28$ levels. Once they are reached there is no resistance till 0,34$ so we might see a rally to this point. However, the cryptocurrency remains into the tight trading range.

Litecoin – LTC/UST

Litecoin is being traded near 58$ levels for the past few days. The cryptocurrency is moving flat on the same level with the moving averages. Since August the pair is stacked in between the 49$ and 69$ range. These levels are acting as a support and resistance and we can speak about new trend once any of these lines is broken. A potential break out of the resistance line will open the way for the Litecoin to 94$ where is located the next resistance, so we might witness a really strong pullback soon. The breaking of the support line will continue the downtrend to new low levels for the year. Right now there are no visible supports bellow the 49$ levels.

Tron – TRX/UST

Tron did not finish the day above the moving averages. The current price is 0,021$ per coin. The price seems that bounced from the resistance and is moving south direction to the support line. We consider that the pair is in consolidation in between the 0,018$ and 0,022$ levels. A potential break of the resistance will push the cryptocurrency of 0,031$ levels which will indicate the start of a new bullish trend for the cryptocurrency.

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