Top 10 Cryptocurrencies Analysis (June 03)
Disclaimer: the cryptocurrency market is extremely volatile so all predictions should be considered as approximate only. Superorder isn’t responsible for any consequences of your trading actions. Always do your own research before making a deal.
This week, almost all leading markets were stable but many of them showed negative divergence in the RSI.
Numbers and prices are derived from CoinMarketCap and cryptocurrency charts are from our crypto trading terminal called Superorder. You can easily trade there using the following signals.
BTC/USD
Resistance levels: $9,500 and 10,000.
Support levels: $8,000 and $7,400.
Trading recommendation: moving averages show a positive trend but the RSI is negative. Bulls will buy near $8,000 and secure profits at $9,000 so we don’t suggest buying now. Better, wait for more reliable conditions to buy BTC before the next uptrend.
ETH/USD
Resistance levels: $280 and $322.
Support levels: $250 and $225.
Trading recommendation: the situation is similar to the BTC/USD pair so we can repeat the suggestion: don’t open long positions now. These digital assets are likely to enter the correction phase.
XRP/USD
Resistance levels: $0.46 and $0.6.
Support levels: $0.41 and $0.37.
Trading recommendation: bulls fail to move above the resistance zone for the third time in a row. We think that you should put Stop Losses at $0.35 and Take Profits at $0.45. If this crypto coin moves higher, also move Stop Losses. Or simply use Trailings!
BCH/USD
Resistance levels: $485 and $635.
Support levels: $410 and $340.
Trading recommendation: moving averages are likely to stop their upside movement and the RSI is pretty negative. Crypto trading is undesired because both bullish and bearish patterns are equally likely. Wait for the major change.
LTC/USD
Resistance levels: $122–$127 and $159.
Support levels: $103 and $91.
Trading recommendation: indicators show contradictory information. Overall, the pair will break out the current zone ($102–$120) and either begin the next cryptocurrency bull run or start moving down. Thus, refrain from trading until the pair breaks upper or lower level.
EOS/USD
Resistance levels: $9 and $9.6.
Support levels: $7, $6.8, and $5.6.
Trading recommendation: all the tech indicators show that this crypto coin pair has almost perfect bull/bear balance. You can use a day trading crypto strategy with short deals but, globally, it’s better to wait for the next large move.
BNB/USD
Resistance levels: $36, $40, and $46.
Support levels: $30.9 and $26.
Trading recommendation: main indicators show that this pair is bullish today. It failed to break the first resistance several times but we still think that it will move up so you can open longs and buy more coins.
BSV/USD
Resistance levels: $254, $307, and $340.
Support levels: $175 and $152.
Trading recommendation: among all top digital assets, this pair is the most unusual. It continues skyrocketing but can stop at any time. We suggest using Trailing Stops between $205 and $175 combined with open long positions. Plus, consider placing Take Profits at several points on the move up to $340. You can put these orders together using a new feature called Super Trade available via our professional crypto trading terminal.
XLM/USD
Resistance levels: $0.149 and $0.225.
Support levels: $0.129, $0.116, and $0.086.
Trading recommendation: we still suggest getting this crypto coin only after it reaches $0.1486 with active Stop Loss orders at $0.115. We expect for consolidation soon so don’t focus on new heights.
TRX/USD
Resistance levels: $0.041 and $0.05.
Support levels: $0.032 and $0.028.
Trading recommendation: if you have open longs, keep them but don’t forget to secure profits if the pair is successful to break the first resistance. Put Take Profit orders for 40% of the position at $0.04 and move Stop Losses higher.
