The crypto markets are experiencing a dip across the board, most of the coins are down more than 5 percent in the 24-hour and 7-day change period.
Monero (XRM), New Economy Movement (XEM) and Stellar Lumens (XLM) are the top 15 coins in the green. The Monero in the red based on the 24-hour period, but green on the 7 -day period.
Ripple, BCH, and Ethereum are all in the red, with ripple taking a long hit after Coinbase rumors were squashed and trading at $0.886693.
The NEO has been on a bullish trend, posting small gains with a zigzag pattern. It currently has two supports with one at $93.7 and a lower support at $74.63. It is expected to accumulate in the $100-$115 mark before making any further gains. A bullish trend is expected, but a short entry position will be the best. The stochastic RSI confirms the trend as the NEO approaches the Oversold point.
The Cardano has maintained a constant bearish trend with close to zero gains on the daily chart. It seems to have broken the accumulation support at 0.00002499BTC. The bearish trend is likely to continue to another accumulation support at 0.00001128BTC. The Stochastic chart confirms the trend with a stagnation around the oversold mark.
The XLM continues to experience a bearish trend. It currently trades at $0.32 a critical support position. It currently posted a new low point at $0.29. The Stochastic chart signifies a new bullish trend, but not more than 50 points, forming an accumulation as previously formed.
The EOS has experienced a bearish trend since last year February only posting small accumulation gains. The EOS currently trades at $6.55 a rise to around $7.067 is expected before the bearish trend continues.
The IOTA ranks below the EOS as the 11th largest cryptocurrency by market capitalization. The IOTA has been on a bearish trend fueled by the recently exposed spat between the IOTA team and an external security research firm that brought to light some security vulnerability. It has fallen close to a critical support at $1.3 but currently trades at $1.5.
The bulls have been unable to break the bearish trend and a further dip is expected. The bearish trend is full of short gains, but no significant gains to change the trend. The Stochastic indicator signals for a possible change in trend after reaching an oversold point. The gains will unlikely suppress the 40 points mark creating a stagnation at around $0.49