XRP faced an uphill task to recover from recent lows considering the dearth of buying pressure. Litecoin broke south from a descending triangle and eyed further losses towards $134-116. Finally, Cardano bulls needed to defend $1.47 from a sharper retracement.
XRP
উত্স: XRP / ডলার, ট্রেডিং ভিউ
Buying volume has been weak in the XRP market- something highlighted by ওবিভির recent trajectory. While the index moved flat-like over the last two weeks, it has failed to recover to levels seen prior in early May. Moreover, এমএসিডি এর downtrend highlighted weakness even though XRP moved rangebound over the past few days. These were worrying signs for XRP’s road ahead.
A breakdown from $0.805 would drag the cryptocurrency towards its demand zone between $0.64-$0.72 where a reset could take place.
লিটকয়েন [এলটিসি]
উত্স: এলটিসি / ইউএসডি, ট্রেডিং ভিউ
A descending triangle breakdown was seen on Litecoin এর 4-hour chart. In fact, LTC broke below its first major support level around $167 but found a defensive line at $152. However, with bearish momentum building up on অসাধারণ অসিলেটর, LTC could be in for additional losses.
Focus should be on the region between $134-116 as the presence of a demand zone would open up long opportunities for traders. আরএসআই seemed to bounce back from oversold region at the time of writing but could revisit the bottom region considering selling pressure in the market.
কার্ডানো [এডিএ]
উত্স: ADA- এর / ইউএসডি, ট্রেডিং ভিউ
Similar to its counterparts XRP and LTC, Cardano saw a bearish price action on the back of a broader market correction. The candlesticks slipped below $1.60-support and tested another defensive area around $1.47. This area was in focus throughout March and April and triggered several retracements after breakouts were denied. Now serving as a support zone, bulls must maintain losses above this critical area to avoid an extended sell-off.
অনুসারে গতিবেগ মোমেন্টাম সূচক, volatility was on the up and losses could be heightened over the coming sessions. Further bearishness was pointed out by এমএসিডি এর movement as the Fast-moving line was below the Signal line.
Source: https://ambcrypto.com/xrp-litecoin-cardano-price-analysis-08-june/
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