Can we spot any buying opportunities in the top five performers of the past week? Let's find out.
Traders can buy on dips to $6.50 next week and keep a stop loss of $5. If the support at $5 breaks down, the pair can drop to the bottom of the range at $3.40.IOTA/USD. MIOTA was the second-best performer of the past seven days.
One of the reliable strategies to trade a range-bound market is to buy on a rebound from support and sell closer to resistance.
Traders can buy above $0.28 and keep a stop loss of $0.20.
After failing to scale above the overhead resistance zone of $0.10-$0.11151 in late June, the ADA/USD pair has corrected close to the support at $0.035778.
With the price trading below both moving averages, the advantage is with he bears.
Still, as the price is close to the support of the range, traders can attempt to buy on a strong bounce off $0.035778.
Though the price has broken below the strong support at $0.01774, the bears have not been able to capitalize on the breakdown.
As the rebound from the support is weak, we suggest traders wait for the price to break out and sustain above the downtrend line before attempting long positions.
We will wait for the price to sustain above $0.072545 for more than a week before proposing a trade in it.
Top-5 Crypto Performers: ETC, IOTA, ADA, TRX, XLM
gepubliceerd op Aug 25, 2019
by Cointele | gepubliceerd op Coinage
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