Crypto Buy Entry Levels – ADA, XLM, and DOT
Crypto traders have struggled to push ADA against its short-term support zone at $1.20. As of today, the bulls experience pressure against the $1.20 mark for five consecutive days. However, bears did not manage to close beneath that particular level for now.
Meanwhile, Cardano’s network depicts extended lower highs, indicating high chances that ADA will break the level at $1.20, testing the following support level beneath. Keep in mind that the next support zone lies from $0.84 to $0.94. The altcoin has a massive confluence area near the $0.90 and at $0.9087 (50% Fib retracement), $0.8966 (100% Fib extension), and the high volume knob.
Polkadot (DOT)
Polkadot has seen drastic plummets since its record highs back in May. At the moment, you will hardly agree that DOT traded at $50.74 one time. The altcoin has experienced nose-dives since breaking beneath the bearish flag a month ago (14 June). Although DOT has some churning and congestion from 22 June to 10 July, it has endured extended downtrends over this week. Its Volume Point of Control (VPOC) this year stands at $16.81 and has served as the pivotal resistance zone since 22 June.
Keep in mind that Polkadot trades beneath its 50% Fib retracement level near $17.99. At the moment, the asset dropped to $12.09 low, bouncing off the Fib Extension at 78.6% and $12.33. DOT shows signs of further plummets for now. According to its volume profile this year, the crypto indicates an increased volume trough from $13.46 to $10.92. With its current attitude, DOT might head to $10.00. The 78.6% Fib retracement lies at $9.94, while the 100% Fib Extension hovers at $9.75.
Stellar (XLM-USD)
At the moment, stellar seems to have a supportive and massive price chart. The alternative coin trades in crucial support affirmed by most of its indicators. They include the 78.6% Fib Extension ($0.2187), Senkou Span B ($0.2361), Senkou Span A ($0.2652), 61.8% Fib retracement ($0.2413). Keep in mind that it is the weekly price chart reading all these figures.
Also, Stellar has chances to secure support at the weekly Relative Strength Index around the oversold territory (40), which it trades above at the moment (42). For now, most indicators show that Stellar would outperform in the coming sessions.
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