EOS/USD
EOS broke below the $5.65 support and the trendline on September 5. The recovery attempt is currently facing resistance at the trendline.
If the bulls fail to defend the support zone of $4.50–$4.80, the EOS/USD pair can retest the August 14 low of $4.1778.
Any pullback from the current level will gain strength only if bulls sustain above $5.65. Traders can hold their remaining long positions with the stop loss at $4. If the virtual currency fails to climb above $5.65 within the next couple of days, we might suggest closing the position.
XLM/USD
Stellar continues to trade inside the range of $0.184–$0.24987525, however, the pressure to the downside has increased. Both moving averages have turned down, after remaining flat for the past few days. The RSI has also dipped into negative territory. These signs point to the possibility of an attempt by bears to break down of the range.
If the bears succeed, the XLM/USD pair will complete a bearish descending triangle pattern, and drop to $0.11812475 and lower.
On the other hand, if bulls hold the supports, the virtual currency might spend a few more days inside the range. Traders should wait for a breakout of the range before initiating any long positions.
LTC/USD
The recovery attempt in Litecoin met with strong resistance at the downtrend line and the 50-day SMA. On the downside, the 20-day EMA and $62.319 failed to provide any support.
As both moving averages have turned down and the RSI is also in the negative territory, probability of a fall to the August 14 low of $49.466 has increased. If this level breaks, the next stop is $44.
The LTC/USD pair will seem stronger if it breaks out of the 50-day SMA. Until then, traders should remain on the sidelines.
ADA/USD
Cardano has been trading inside a range for the past 24 days. A break down will resume the downtrend, with a pattern target of $0.054541. The down sloping moving averages and the RSI in negative territory show that the path of least resistance is to the downside.
However, if bulls hold the bottom of the range, the ADA/USD pair might extend its consolidation for a few more days. The first sign of strength will be a breakout of the resistance zone of $0.111843–$0.13.
We will wait for the trend to change and a new buy setup to form before recommending any trades.
IOTA/USD
IOTA is threatening to go below $0.5750, after staying above it for the past two days. A break of this support can result in a retest of the August 14 low of $0.4037. If this support also gives way, the slide could extend to $0.3350.
The 20-day EMA is turning down and the RSI is back in negative territory, showing that sellers are in control. A breakout of the overhead resistance zone between the 50-day SMA and $0.9150 will indicate a change in trend.
We suggest traders hold on to their long positions with the stops at $0.46. If the IOTA/USD pair struggles to recover within the next couple of days, we might recommend closing the remaining position.