Top 5 Crypto Performers Overview: Binance Coin, Cardano, IOTA, Neo, Tron

Published on by Cointele | Published on

After an extended downtrend, the ADA/USD pair has been trading inside the range $0.062424-$0.027237 for the past nine weeks.

If the bulls scale the overhead resistance of $0.062424, we can expect the start of a new uptrend that can reach $0.094256 and above it to $0.2.As the upside potential is high, traders can wait for a close above the range to initiate a long position.

The IOTA/USD pair is currently trading inside a range.

The NEO/USD pair has been trading inside a tight range for the past eight weeks.

We expect the bulls to again attempt to break out of the range.

Contrary to our expectations, if the bears plunge the virtual currency back below the range, the downtrend will resume.

The breakout of this range in the week before could not sustain, and the price fell back into the range.

Last week, the bulls again attempted to breakout of the range but found selling at the resistance line of the range at $0.02815521.

If the bulls succeed in pushing the price above the range, a new uptrend is likely.

The traders can buy on a close above the range and keep a stop loss just below $0.021.If the bears defend the top of the range, a few more weeks of range bound action is likely to continue.

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