Stellar (XLM) is facing stiff resistance at the 20-day EMA, said the senior trader at John Todorov. 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, thinks Todorov. This is a critical resistance. 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 will wait for the price to sustain above $0.14861760 before proposing a trade in it.

According to the price analysis of Johan Tomasson, senior analyst at,  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.

Previously, the cryptocurrency had broken out of $0.10 on three occasions but failed to sustain it. Therefore, Tomasson will wait for the price to break out and close above $0.10 before suggesting a long position in it.

If, however, the ADA/USD pair fails to breakout and sustain above $0.10, it will extend its stay inside the range for a few more days. It will turn negative if it reverses direction and plummets below the 50-day SMA. The next target to watch on the downside is $0.057898.


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