The altcoins namely UNUS SED LEO, Moneo, and Zcash are in their respective bull markets. The cryptocurrencies are in an upward move but are battling minor resistance levels which have compelled the coin to trades in a sideways trend. The uptrend will resume as soon as those minor resistance levels are breached. The other coins, Crypto.com and Stella, are in a sideways trend battling to break the overhead resistance.
LEO/USD Major Trend: Bullish
UNUS SED LEO was earlier in a bear market. The bear market was terminated on December 31 at the low of $0.8086. There was a change in trend as the coin rebounded in the first week of January to a high of $0.900. The market continues to trade below $0.900 resistance for over a month as bulls failed to push the price above it.
On February 2, the coin rebounded to break $0.900 resistance as price rally to $1.039. At the current price, LEO reached the overbought region, and sellers emerge to push the price to the support line. The crypto is rising and the price is making a series of higher highs and higher lows. The uptrend is likely to continue as long as the price is within the channel. On the downside, a break below the support line will terminate the uptrend. LEO is currently above 80% range of the daily stochastic. The market is said to be in the overbought region. In any trending market, the overbought condition may not hold.
CRO/USD Major Trend: Ranging
Crypto.com coin is in a sideways trend. The market was earlier in a bearish trend as it fell to a low of $0.030. The $0.030 support is holding as the bulls resumed an upward move. The uptrend is currently facing resistance at $0.070. Buyers have failed to break the overhead resistance. In its first attempt to break the resistance in February, the price was resisted and the market drops to $0.030 support. Today, the bulls are retesting the overhead resistance. The crypto has since been repelled and a downward move is expected. The Crypto.com coin is presently at level 61 of the Relative Strength Index period 14. It indicates that the coin is in the uptrend.
XMR/USD Major Trend: Bullish
Monero is rising and in an ascending channel. The current uptrend is being interrupted at the resistance at $66. Since April 30, the current resistance has hindered the upward move. The bulls were first resisted in April as the market dropped to $58 low. In May, the market tested the $66 resistance and was repelled. Monero has been compelled to a sideways move below the $66 resistance zone.
On the upside, if price rebounds below the resistance, the market will break through the resistance levels of $66 and $68 and rally above $70. Possibly the momentum is likely to extend to $80. Meanwhile, Monero is above 60% range of the daily stochastic. It indicates that the market is in a bullish momentum and approaching the overbought region.
XLM /USD Major Trend: Ranging
Presently, XLM is in an upward move but in a sideways trend. Stella is testing the resistance at $0.074 to break above it. Since April 30, the resistance has remained unbroken. The bulls have been repelled at the resistance as the market fell to the low of $0.062.
Prior to this current resistance at $0.074, Stella has been retesting the overhead resistance at $0.090. This overhead resistance has not been broken since last year. On the upside, if the bulls break the resistance at $0.074, the market will rise to retest the overhead resistance at $0.090. XLM is at level 55 of the Relative Strength Index. The crypto is in the uptrend zone and may likely rise.
ZEC/USD Major Trend: Bullish
Zcash is in a bull market. In its upward move, it is currently facing resistance at $48. In April, the bulls tested the resistance twice and were resisted. The current resistance in May has caused the crypto to fall to $38 low. The market is in a sideways trend below resistance as buyers initiate a fresh upward move.
On the upside, if the bulls break above the resistance, Zcash will rally above $55. The sideways move below the resistance will continue if the bulls fail to push the price above the resistance. Meanwhile, ZEC is above 40% range of the daily stochastic. This also indicates that the market is in a bullish momentum.
