John Todorov, senior trader at dagx.live, said that Stellar (XLM) is facing stiff resistance at the 20-day EMA. He thinks that If the bulls fail to sustain the price above the 20-day EMA, the bears will try to sink it below the strong support of $0.11507853.
If the XLM/USD pair breaks down of $0.11507853, it can correct to $0.08558676, but if the bulls succeed in pushing the pair above the 20-day EMA, it can rally to $0.14861760. This is a critical resistance, said Todorov. A breakout and close (UTC time frame) above this level will complete an inverse H&S pattern that has a target objective of $0.22466773. Todorov suggest to wait for the price to sustain above $0.14861760 before proposing a trade in it.
Johan Tomasson, senior analyst at dagx.live, thinks that Cardano (ADA) is range-bound between the 50-day SMA and $0.10. It sharply bounced off the 50-day SMA on June 10 and is nearing the overhead resistance of $0.10. A breakout and close above $0.10 will complete the rounding bottom pattern that has a target objective of $0.22466773, thinks Tomasson.