- Trading recommendations: LTC, QTUM, ADA
Qtum Looks Set For A Rally
The last two months the price of this digital asset remains in the accumulation territory. I expect that within a few days Qtum’s price will grow by 15–20%, which means that the coin will again face a resistance level at a price of 0.004 Sats. If you look at the daily chart, you will see that the popular indicator MACD makes a bullish crossover that will also push the price to the resistance level. At the same time on the 4H TF this indicator doesn’t feel confident which show us the possible bearish crossover and it must be a fake signal. Qtum’s RSI is far from oversold and overbought territory, which allows room for further flat trading between support and resistance level.
LTC Has Entered Overbought Territory
Will the price rise further? Most likely yes, in anticipation of the launch of the LitePay, because more people will see LTC as a valuable asset to own. If we go to LTC chart on 4h and 1d tf, we realise that the RSI has flashed a bearish divergence signal at its overbought region. However, the MACD shows us bullish trend and the LTC price can move higher in the next few weeks. The resulting rise above the 50-Day EMA provided a form of dynamic support, further confirming the continuation of the bullish trend too.
So, to summarize. If you bought at the price of 0.0235, then you should be patient, as in the coming days the price may drop to 0.019–0.02. Also, in the future I expect the continuation of updating the new price highs.
ADA Looks Set To Move Lower
ADA coin fell below its 50-Day EMA a few days ago. The next level of support would come from ADA’s 100-Day EMA. The coin is also far from oversold territory, which means that there’s sufficient room on the downside.
The bear case is further boosted by the fact that the MACD indicator is still bearish for the coin. I expect that ADA’s price will find the support at 100-Day EMA and, the MACD will made a bullish crossover within next week at the price of 2.5k-2.6k, then I could open a long-position.
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- Date of publication:
- Wed, 02/14/2018 - 11:25
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