In a nutshell, Cardano (ADA) and TRON (TRX) are making an impressive upward move as the current uptrend is intact. ADA is attempting to break the last resistance to be out of the bear market. The coin has recovered over 95 % bullish gains from the bear market. TRON is attempting to retest the $0.018 high. The other altcoins are struggling in the bear market.
ADA/USD Major Trend: Bullish
Presently, ADA is in a bull market as it reached the high at $0.090 on June 4. The bulls were repelled at this high as the market fell to $0.070 low. Buyers resumed a fresh uptrend but were resisted at the $0.085 high. The bulls attempted the resistance on three occasions before breaking above it. The breakout propelled price to breach the earlier resistance at $0.090 and reached a high of $0.095. Nonetheless, a red correction candle body tested the 0.618 Fibonacci retracement level.
It indicates that the coin will rise to a 1.618 extension level. In other words, the market will reach a high of $0.12, if the current momentum is sustained. Meanwhile, ADA is above 80% range of the daily stochastic. It indicates that the market has reached the overbought region. The coin is likely to fall as sellers emerge to push prices down. Thereafter, the uptrend will resume.
DASH/USD Major Trend: Ranging
DASH is currently in a sideways trend after the coin reached a high of $90 and dropped to $68 low. At the moment, it is in a tight range between $68 and $80. The price action is characterized by small body candlesticks like the Doji and Spinning tops.
These candlesticks describe that buyers and sellers are undecided about the direction of the market. This is one of the reasons for the sideways move. In the last bearish impulse, the bears broke the current support at $68 as the market dropped to $66 low. DASH is presently at level 35 of the daily Relative Strength Index Period 14. It indicates that the market is in the downtrend zone and approaching the oversold region.
EOS/USD Major Trend: Bearish
EOS is in a downward move. This is given the formation of a bearish double top on June 2. Before now, the coin has been in a bullish trend. At the low of $2.70, EOS rebounded to reach a high of $2.90. However, the bulls were resisted as the market fell to a low of $2.70. On June 5, buyers made a second attempt at the resistance but were repelled. A bearish double top was formed which is responsible for the current downtrend. Today, the coin has fallen to a low of $2.20 and resumed an upward move. EOS is above 40 % range of the daily stochastic. It indicates that the market is in a bullish momentum.
TRX /USD Major Trend: Bullish
The crypto is now in an upward move. It has earlier reached a high of $0.018 but was resisted at the overbought region. Sellers emerged to push the coin to $0.015 low. TRON is in a fresh uptrend as it rebounds above $0.015 low.
The momentum broke the resistance at $0.016800 but unable to sustain the upward move. On the upside, if the bulls break the current resistance at $0.0168, the coin will rise and retest the overhead resistance at $0.018. Nevertheless, the price bars have broken above the EMAs. It suggests that the coin is likely to rise. Besides, the crypto is at level 55 of the Relative Strength Index period 14. It indicates that TRON is in the uptrend zone.
ZEC/USD Major Trend: Bullish
ZCash is in a bullish trend. The price is making a series of higher highs and higher lows. Recently, the crypto reached a high of $60 but was overbought. Consequently, sellers emerged at the overbought region to push the coin down. The coin fell to a low of $50. The current support has been holding since May. In the meantime, the coin has fallen to an oversold region of the market. The implication is that buyers are likely to emerge to push ZCash upward. The current support is likely to emerge if buyers emerge in the oversold region.
