This is list number 2 for you guys! For the top 5 coins check out this analysis. Crypto markets are all over the place with BTC heading back toward $10,000. However, some altcoins are looking pretty resilient. Take a look at the analysis below!
EOS has seen a steep 43% price plummet over the past 30 trading days, bringing the current price for the coin down to $4.09, at the time of writing. The cryptocurrency had been trending well from February until reaching a high around $8.52 in June and reversing. EOS has been particularly hit hard this month as it has the largest price drop over the past 30 days in the top 20 ranked projects.
EOS currently holds a $3.80 billion market cap which puts it in the 8th place amongst the top cryptocurrency projects.
Looking at the chart above, we can see the particular freefall that EOSUSD has been trapped within. The cryptocurrency has pretty much taken zero breaks during this price fall expect for at around the $6.00 level, which had held for over a week.
We can see that EOSUSD had recently rebounded at the short term .786 Fibonacci Retracement level at $3.55. This area of support is further strengthened by the downside 1.414 Fibonacci Extension level priced at $3.50. Despite the recent rebound, EOS is now struggling to break above $4.40.
IF the selling continues to push EOS beneath the $4.00 support level, we can expect to find more support at $3.91, $3.50, $3.00 and then at the .886 Fibonacci Retracement level priced at $2.92.
Similar to the majority of cryptos at this moment in time, the RSI for EOSUSD is in the bearish favour as the bulls struggle to gain any momentum.
IF the bulls defend the $4.00 and cause EOSUSD to rebound above $4.40, higher resistance is then located at $4.62, $5.00, $5.37 and $5.86.
Relative to the rest of the market, Binance Coin has been performing surprisingly well after rebounding at $25.53 and increasing by 7.32% over the past week of trading. BNBUSD has now risen back above the $30.00 as the bulls attempt to push further higher.
Binance Coin currently holds a $4.76 billion market cal valuation which puts it in the 6th ranked position amongst the top projects.
Analysing the daily BNBUSD above, we can see that BNBUSD had found strong support at the downside 1.618 Fibonacci Extension level priced at $25.53. After reaching this level of support, BNBUSD rebounded and started to travel higher again.
We can also see that BNBUSD has recently found some resistance around the $31.50 level which has caused the rebound to stall. This level of resistance will be important to overcome if we would like to see BNBUSD travel higher.
IF the bulls can break above $31.66, the next level of resistance lies at $32.45 and $34. If the buyers continue to push the market beyond $35.27, further higher resistance then lies at $36, $36.28, $36.68, $38.50 and $40.
The RSI has been in a recent battle with the 50 level as it continues to trade along the area. This shows that there is indecision within the market as the bulls and bears battle for control.
If BNB was to fall beneath the support at $30, we can expect further support toward the downside to be located at $28.66, $26.32, $25.53 and $23.
Tron has experienced a lively week after increasing by a total of 12% to reach where it currently trades at around $0.02846. The cryptocurrency had been dropping aggressively but had managed to find support and rebound around the $0.0210 level. However, Tron has recently found trouble breaking above the resistance at $0.03 which is bolstered by the 200 day EMA. This price increase can largely be attributed to the fact that Justin Sun, CEO of Tron, is about to have lunch with Warren Buffet this week after winning a charity auction.
Tron currently holds a market cap value of $1.90 billion which puts it in the 10th place in the market cap rankings.
Analysing the chart above we can clearly see the resistance at the $0.030 level at which Tron struggled to overcome. The market is now trapped between the 100 day EMA and 200 day EMA as the players decide which direction to head toward.
If the bulls can push the market above the resistance at $0.030, we can expect immediate higher resistance to be located at $0.03150, $0.032, $0.034, $0.036 and $0.03868.
Alternatively, if the sellers push the market beneath the support at the 100 day EMA around $0.028, we can expect immediate support beneath the market to be located at $0.02688, $0.026, $0.025, $0.0246, $0.0229, $0.0210 and $0.020.
The RSI is also directly on the 50 line in this market which shows indecision. If we would like to see TRXUSD travel higher, we will need to see the RSI break above the 50 level.
Cardano has seen a relatively quiet 7 day trading period as the market has moved pretty much 0% over the week. However, during the week, Cardano did drop into the support at the $0.050 level which had caused the market to rebound back to the price it was trading at 7 days ago at the $0.0590 level.
Despite the recent rebound, Cardano has been struggling greatly this month after losing a total of 37% over the past 30 days. Cardano currently holds a $1.55 billion market cap value which puts it in the 12th ranked position.
Looking at the chart above, we can see that ADAUSD had found strong support at the downside 1.414 Fibonacci Extension level (drawn in orange) priced at $0.05106. This area of support is further bolstered by the short term .786 Fibonacci Retracement level (drawn in green) priced at $0.04986. ADA had rebounded from here but was unable to overcome resistance at the $0.065 level which caused Cardano to slip back beneath $0.060.
Looking ahead, if the selling continues to cause ADA to slip further lower, we can expect immediate support beneath to be located at $0.055, $0.05106 and $0.05. If the selling continues beneath $0.05, we can expect more support to be located at the short term .886 Fibonacci Retracement level priced at $0.04352.
The RSI for Cardano is currently well below the 50 level which shows that the sellers are in complete control of the market momentum.
Monero has had a rather muted price drop over these past 30 days as the cryptocurrency falls by only 25%. Although this is still a steep fall, it is still far less than others in the top 20 ranked projects. The recent price falls have now seen Monero fall beneath $100 to reach where it currently trades at $83.58.
Monero is currently ranked in the 13th position as it presently holds a $1.44 billion market cap valuation.
Looking at the XMRUSD chart above we can see that Monero had fallen lower during the week but had managed to find support at the short term .786 Fibonacci Retracement level priced at $72.89. XMRUSD has rebounded from this level of support to reach where it currently trades at the $83.58 level. However, Monero now faces significant resistance at the 200 day EMA where it is currently trading.
If the sellers cause XMR to drop beneath the current support at the $80 level, we can expect immediate support beneath to be located at $75 and then at $72.89. If the selling continues further beneath the support at $70, we can expect more support to be located at the short term .886 Fibonacci Retracement level priced at $66.88.
Alternatively, if the buyers can push the price for the coin above the 200 day EMA, further higher resistance lies at $90, $95, $100 and $108.