In the latest stage in their recovery from June 22 lows, Bitcoin, Ethereum, and Ripple overcame minor resistance levels. As the cryptocurrency complex tries to put the second quarter corrections behind it, significant impediments remain, producing technical headwinds. Meanwhile, the South African financial authority says it has no choice but to impose new restrictions in the wake of a $3.6 billion Bitcoin heist.
Cardano’s price has violated a downward trendline and is unable to close above $1.40. The markets’ profit-taking isn’t helping to keep ADA from rising higher. To the downside, $1.15 is the only true first support. For purchasers to pick up ADA again and push it higher, the price of Cardano must first drop.
The price of XLM is being supported by an upward trend line that dates back to June 22. The intermediate $0.267 level is holding as short-term support, therefore the correction isn’t a concern right now. We’re seeing some profit-taking in markets in general after a couple days of uninterrupted rises. The price of XLM has rallied off intermediate support and appears to be on track to reach $0.30./n
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