Top 10 Cryptocurrencies Analysis (May 27)
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.
Bitcoin is on the insane rise and it drives other markets higher and higher, including stablecoins that made almost $4.3 billion in the market capitalization. The crypto community expects to break $300 billion in market cap during the next week. If bulls can defend this success, we can see the greatest rally since 2017. However, the fail of cryptocurrency bull run may result in a strong downtrend so remember about stops.
Our traditional analysis covers the top 10 crypto digital assets this week: Bitcoin, Ethereum, Ripple, Bitcoin Cash, Litecoin, EOS, Binance Coin, Stellar, Cardano, and TRON. All the info is from CoinMarketCap while charts and indicators are taken in the interface of the Superorder crypto terminal.
BTC/USD
Resistance level: $10,000.
Support levels: $8,500 and $7,400.
Trading recommendation: as the coin skyrocketed through the previous main resistance level, it now can move up to the largest psychological barrier. Tech analysis is bullish so don’t sell Bitcoin now and add to open long positions carefully. Bears will try to move prices down near $9,200.
ETH/USD
Resistance levels: $290, $300, and $322.
Support levels: $232, $225, and $190.
Trading recommendation: the currency price is growing but bulls haven’t reached the first resistance level, still. Thus, just maintain your longs or buy some ETH if you don’t have open positions. Don’t forget about Stop Loss orders, they will look fine at $210-$230.
XRP/USD
Resistance levels: $0.45, $0.48, and $0.6.
Support levels: $0.33, and $0.28.
Trading recommendation: the pair is extremely close to the first resistance and bulls have the advantage so we expect further growth. For now, keep longs open and leave stops at the previous level of $0.275. In one or two days, move them to $0.35 (you can use Trailing Stop orders to do this automatically).
BCH/USD
Resistance levels: $452, $495, and $639.
Support levels: $380 and $300.
Trading recommendation: despite the continuou scryptocurrency bull run, we don’t see strong signs of further growth. Means, we don’t suggest trading or opening long positions. It’s likely that bears will find new resources near the first resistance.
LTC/USD
Resistance levels: $127 and $159.
Support levels: $91 and $75.
Trading recommendation: compared to the last week, this pair passed the first resistance. The terminal for crypto trading and its charts reveal that the RSI shows a negative divergence so you want to keep Stop Loss orders at $80. Active trading isn’t the best choice but you can increase longs.
EOS/USD
Resistance levels: $9 and $9.6.
Support levels: $6.9 and $6.1.
Trading recommendation: EOS jumped over the previous resistance and now focuses on new heights. All the signs on cryptocurrenc ycharts are in favor of bulls so consider buying coins before the next run. You can keep Stop Losses near the first support at $6.6 or slightly higher.
BNB/USD
Resistance levels: $40 and $46.
Support level: $28.
Trading recommendation: BNB set a new lifetime record on May 26 and bulls are fighting for the sustain zone right now. It’s better to wait until the pair reaches a more stable level. Don’t close longs but also don’t buy this crypto coin now.
XLM/USD
Resistance levels: $0.149 and $0.225.
Support levels: $0.115 and $0.111.
Trading recommendation: the previous suggestion is still viable as bulls are successful in their sustain above the 20-day EMA. Thus, try to buy coins when the price moves higher $0.1486 but keep stops right below $0.115. It will be the best crypto trading strategy.
ADA/USD
Resistance levels: $0.094 and $0.161.
Support levels: $0.077 and $0.057.
Trading recommendation: bulls try to fight back as the RSI and moving averages look more positive now. Similarly to XLM/USD, our earlier crypto trade tips on this pair are still valid so you can buy at $0.094 to catch the next big move.
TRX/USD
Resistance levels: $0.035, $0.04, and $0.05.
Support level: $0.028.
Trading recommendation: the first resistance zone was conquered and it’s a strong bullish signal. You can think about buying more TRX with the trading terminal. However, considering that the pair failed to sustain above the previous levels, you should keep stops at $0.025, for sure.
