Technical Analysis 06/20: EOS (EOS), Litecoin (LTC), Cardano (ADA), IOTA (MIOTA)



EOS needs an injection of good news after facing a series of challenges since it launched its Mainnet earlier in the month.

EOS/USD is a little over 1 percent in the red as the market looks to ignore the earlier hack at Bithumb. The coin has seen a high of $10.78 and a low of $10.18.

That threatened to see it decline further to prices last seen on June 13.

At the moment, EOS has major support at $10 and will trigger the entry of buyers if it breaks above the key resistance zone at $13.

Buyers have rejected lower prices even though both the technical indicators and moving averages show that sellers are very much in charge.

The RSI (14) value is 39.98 on the daily charts while its stochastic oscillator has pushed it into oversold territory.

EOS is getting ready for an extended break above $11, as both the short-term 100MA and long-term 200MA indicate a bullish momentum building up.

Nevertheless, the bulls must marshal support to sustain any positive gains in the next few days.


LTC/USD saw its prices test the $100 level, but could not sustain momentum and retraced to trade below that resistance zone.

The coin is under selling pressure with the RSI (14) 35.17 value and its stochastic oscillator in oversold conditions.

LTC crossed above its 50% Fibonacci retracement level and could correct lower at $95.

To prevent this, the bulls must consolidate support above the $98 trendline.

At the moment, the crypto has a short-term bullish trend though, as indicated by the 50SMA and 100SMA. LTC/USD is looking towards pushing for s break out above $100.

If the upside is maintained in the next few hours, we could see its major resistance at $102. The 4-hour stochastic indicates we could see the bulls push it towards that level.

However, Litecoin remains delicate and the bears could retake the initiative if prices fail to break above June 14 prices. Further downward support zones will be provided at $95 and $92.5.


ADA prices have tested the $0.17 resistance level on June 19, 2018.

That momentum has somehow been erased today as the coin experienced mixed reactions. It traded at a high of $0.167 in the Asian trading hours.

It dropped to lows of $0.156 before it rallied slightly to the current $0.163.

The strong selling pressure might have encouraged the bears leading to a downward correction over the 4-hour charts.

The ADA/USD pair closed below its 100 SMA opened up positions below the key support zone at $0.1600.

Should ADA bulls fail to hold support above these prices, we could see it decline and rely on the next key support area at $0.1560 and $0.1540.

Nevertheless, should the coin find support and break above $0.17, we could see it face resistance near its 1-hour 100SMA.

The daily RSI is well below 50 at 34.98 and both the short-term MA (100) and longer-term MA (200) indicate that sellers are in charge. ADA/USD will likely swing between its June 12 open at $0.18 and the close at $0.165.


IOTA prices have seen a series of lower lows for the last few weeks. After falling to lows of $1.10, the coin has seen a slight upsurge to reach the current $1.17.

However, the coins momentum upwards has hit stiff resistance at levels near $1.18.

In the one-day charts, IOTA/USD is about 2 percent lower and has gained support at $1.12, flat lining before rising to current levels.

The coin’s Relative Strength Index (14) is at 34.01 and the stochastic oscillator is in oversold conditions.

Sellers are very much in charge here. It’s crossed below its 200 MA and 100MA and the short-term strategy is to sell.

Looking at its daily chart, prices have formed a double-top pattern. It means that the bears are likely to take center stage once more.

At the moment, the bulls must prevent further declines below $1.15 to keep the slim bullish trend.

If the bulls surrender initiative to the bears, we could see the coin re-enter the downtrend towards $1.10 supply zone and below.

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