Bitcoin, Ethereum, Bitcoin Cash, Ripple, Stellar, Litecoin, Cardano, IOTA, EOS: Price Analysis, May 09

Published on by Cointele | Published on

Currently, the BTC/USD pair has again pulled back above the $9,000 levels, which is a positive development.

XLM/USDStellar is trying to hold the 20-day EMA. If successful, it can rally back towards the $0.47766719 levels, which will form a cup and handle formation.

A break below the 20-day EMA can extend the decline to the next support level of $0.334.Though the XLM/USD pair is showing signs of bottoming out, we suggest waiting for the pattern to complete with a breakout above the overhead resistance at $0.48.

LTC/USDLitecoin broke below the support line of the ascending channel and the 20-day EMA today, but the bulls purchased the dip close to $150 levels and pushed prices back into the channel.

Now, a rally above $168 levels will indicate strength and a move to the May 06 highs of $184.794 is possible.

If the LTC/USD pair fails to scale the overhead resistance, it can decline to the next support level of $141.026.Presently, we don't find a high probability trade setup we are not recommending any fresh long positions.

ADA/BTCCardano broke below the support levels and declined to 0.00003301 levels where buying emerged.

Our suggested stop loss is placed at 0.000029 levels, just below the lows of the handle, in the cup and handle formation.

If the IOTA/USD pair breaks down of the channel and the 20-day EMA, it will indicate weakness and the fall can extend to the next major support at $1.63.Right now, there are no reliable buy setups we have not suggested any specific buy and stop loss levels.

We like the way it has held above the 38.2 percent Fibonacci retracement levels of the rally from $5.9610 to $23.0290.

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