CoinFinex Daily Market Review for 24.10.2018

Litecoin – LTC/UST

Litecoin is moving more to south direction. The cryptocurrency is located below the moving averages and the RSI is also negative which is a clear bearish sign. The current support level for the LTC/UST pair is at 49$ , a potential break of this support will cause a fal to 40$ where is located next strong support. On the other side if the bulls succeed to push back up the Litecoin and try to sustain it above 60$, they will open the way for the buyers to push the cryptocurrency to the resistance of 70$ levels, once that is passed we might see a rally to 95$ since on the way up there is no significant resistance.

Tron – TRX/UST

Tron is being traded really close to the 20 day EMA line. The intentions of the market was bullish for Tron but the low trading volumes in the past few days made the cryptocurrency move in without any volatility. The price of TRX Is 0.023$ and in order to make a good pullback  the bulls have to push the cryptocurrency above 0.028$ levels and try to sustain it there. Once this happens on the way to 0,041$ levels there is no significant resistance that will stop the bulls. However, if the bears drag the cryptocurrency below the 0.018$ support line, the next support for the Tron will be at 0,008$.

Cardano – ADA/UST

The current price of Cardano is 0,075$. The price is on the same level with the moving averages and during the past few days the trading activity is low which is the reason of the low volatility of the cryptocurrency. From the daily chart we can see that Cardano is being stacked in a trading range between 0.09$ and 0.06$ and theses levels are acting as support and resistance. On the upside the bulls have to sustain the cryptocurrency above 0.09$ in order to initiate a new trend. However, the bears might try to sink the Cardano back to 0.06$ which is acting as a strong support zone, so before making a strong pullback there is chance that ADA will touch the bottom again.

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