Cryptocurrency Price Analysis: Cardano, XRP, and Stellar

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Cryptocurrency Price Analysis: Cardano, XRP, and Stellar
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Cardano (ADA/USD)

Cryptocurrency analysis and forecast for 27 August 2019: ADA, XRP, and XLM
ADAUSD Chart By TradingView

In an hourly chart, the price of ADA/USD pair has been trading on a stable range, and traders have not yet decided on what move to make next. The indecisive market was reflected by the price action that oscillated in horizontal channels between $0.0502 and $0.0489 levels respectively.

Notably, the pair’s price escalated from where it closed trading yesterday at $0.0493 to now changing hands at $0.0490. In the meantime, there is no much hope for investors since the price-performance showcase very strong volatility. The RSI indicator is currently ranging below level 50 that signals an increase in selling pressure, which is a positive sign for the bears.

Forecast

Further downside move should be anticipated since the parabolic SAR is seen above the candle that gives investors a sell signal. The 21 day MA has also cross above the 7 ay MA that also indicates a bearish outlook. If sellers break the $0.04800 level then the new target should be set near $0.04000.

Ripple (XRP/USD)

Cryptocurrency analysis and forecast for 27 August 2019: ADA, XRP, and XLM
XRPUSD Chart By TradingView

XRP/USD pair is likely to succumb to a downside break with most indicators pointing at a bearish momentum. The 21-day MA has been gravitating above the 7-day MA in the last 24hrs that showed that the bears are in control. The parabolic SAR was also seen above the price action that signals a strong downside trend reversal. 

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XRP/USD pair is slightly down by 0.99%, having moved from $0.27087 to currently trading at $0.26820.  The pair’s price seemed to have struggled to break above the $0.27300 but managed to trade between that critical resistance level $0.27171 and support level at $0.26782.  However, a break below $0.2670 is most likely.

Forecast

The RSI indicator is currently hovering below level 50 that signals a strong bearish pressure, a downside break below  $0.26780 and 0.2650 levels could result in a further decline to $0.2450.

Stellar (XLM/USD)

Cryptocurrency analysis and forecast for 27 August 2019: ADA, XRP, and XLM
XLMUSD Chart By TradingView

XLM/USD pair is also on a downside move, with few attempts to breach $0.0698 resistance level. Apparently, all the indicators suggest a bearish sign since the 21 day MA is currently dominating above the 7 day MA, which gives support to the bearish momentum.

Notably, the pair’s price escalated from $0.0694 to $0.0674 that translates to a slow dip of 0.3% over the last 24hrs. The appearance of a Doji candle was also seen repeatedly that signaled equality and indecision in the market. The RSI indicator is at the moment heading towards the oversold territory, which gives investors a negative sign.

Forecast

A further bear run should be anticipated since the parabolic SAR that is trading above the candle indicating a sell signal.  A break below $0.06500 may lead to a continuous decline in the near term.


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The views expressed in the article are wholly those of the author and do not represent those of, nor should they be attributed to, ZyCrypto. This article is not meant to give financial advice. Please carry out your own research before investing in any of the various cryptocurrencies available.