Cardano, SafeMoon & Polkadot — Asian Wrap 16 June

Cardano Price Forecast: ADA may drop 30% as hard-core believers vanish

Cardano price resolved a symmetrical triangle to the downside on June 11 and has wedged calmly higher, discovering resistance at the declining 50 twelve-hour SMA. 2018 high is critical support on weakness and is the only significant obstacle between ADA and a test of the May 19 low. The outlook is aligned with caution until there is a declaration of intentions by the green token.

 

SafeMoon Price Prediction: SAFEMOON defeats critical resistance, targets 25% rally

SafeMoon price was engulfed in a period of indecision as it drifted lower in a multi-week descending channel. The existence of the firm upper channel boundary and the magnet effect of a falling 50 four-hour SMA blocked any directional clues for SAFEMOON. The resounding break with the channel and magnet effect has positioned the rookie cryptocurrency to entertain a rally to the 200 four-hour SMA and beyond.

 

Polkadot price springs higher on Coinbase listing, but beware of DOT risks

Polkadot price welcomed the Coinbase Pro announcement, delivering the highest daily volume for a positive day since May 26 and the largest daily gain since May 24. The resulting spike above the 200-day SMA was a bullish development, but it faded when DOT pressed against a longstanding barrier. The outlook is neutral, waiting for further catalysts to overcome the notable resistance.

This news is republished from another source. You can check the original article here

Be the first to comment

Leave a Reply

Your email address will not be published.


*