EOS, XLM, ADA, IOTA. Technical analysis and forecast of the course for February 7-8, 2019

By February 7, 2019 Altcoins
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In the second half of the current session, the bears increased the pressure on the prices of altcoins.

EOS / USD

From lows of February 6 in the price of $ 2,3200 during the current session, the EOS / USD pair recovered to the level of $ 2.4047. However, the bears failed to keep the price above the dynamic support level of $ 2.3860.

At the time of market analysis, the EOS token is trading at $ 2.3809 under the pressure of the moving average EMA30. The nature of the price movement indicates the depletion of buyers.

February 7 EOSUSD H4
February 7 EOSUSD H4

The relative strength index data confirms the strengthening of the bearish pressure on the price of the EOS / USD pair: the indicator value is kept in the neutral area, the RSI14 line tends to turn down.

In the event of a breakdown of price support at the local level of $ 2.3750, the price of the token will drop at least to the trend reversal level of $ 2.3590.

XLM / USD

At the time of the market review, the XLM / USD pair is trading at $ 0.0759 with a decrease in quotations from the session high at $ 0.0778.

An analysis of the four-hour Stellar chart indicates a strong downtrend of the cryptocurrency: the price of the instrument has been under pressure from the downward moving average of EMA30 for a long time and is currently testing support at the second key level of $ 0.0754.

February 7 XLMUSD H4
February 7 XLMUSD H4

An early signal of a price reduction from Stellar gives a bearish divergence in the price chart with the RSI14 indicator. In the short term, we should expect a breakdown of price support at $ 0.0754 and a decrease in quotations towards the key level of $ 0.0700.

Stellar sales are recommended for the breakdown of the key support level with targets of $ 0.0735 and $ 0.0710.

ADA / USD

An analysis of the four-hour ADA / USD chart confirms that sellers have consolidated large volumes of cryptocurrency sales above the first key support level of $ 0.0367. The key-level resistance is enhanced by the moving average EMA30 with the current value of $ 0.0370.

At the time of analysis, Cardano is quoted at $ 0.0364, below the key support level with a $ 0.0367 mark on the four-hour price scale.

February 7 ADAUSD H4
February 7 ADAUSD H4

The value of the relative strength index is held in the bearish area of the indicator, the indicator line turns down, which indicates the advantage of sellers and increases the probability of rebounding the price of a cryptoactive asset from the key level of $ 0.0367.

Short-term sales of Cardano are recommended from $ 0.0367 with targets of $ 0.0360 and $ 0.0357.

IOTA / USD

During the current session, IOTA buyers recovered losses from the previous session. Session maximum price cryptocurrency fixed at $ 0.2620. At the moment, the IOTA / USD pair is quoted at $ 0.2570, below the short-term trend reversal level of $ 0.2600.

The EMA30 moving average with the current value of $ 0.2535 will support the IOTA price in case of a rollback of quotes from the current level.

February 7 IOTAUSD H4
February 7 IOTAUSD H4

On the four-hour IOTA / USD chart with the RSI indicator, a bearish divergence has formed, which strengthens the signals for price reduction in the short term.

Trading recommendations are not a guide to action. Following the recommendations, you assume the associated risk of loss of funds.

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From lows of February 6 in the […]

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