Key ranges for the weekend for Cardano, Polygon, Litecoin, and OmiseGO.
Above: Cardano (ADAUSD) Chart
Not a ton of adjustments to what I’m anticipating for Cardano right here over the weekend. I count on to see some promoting stress once more and return to the 0.84 – 9.94 help degree. If that have been to interrupt, then I’m trying on the subsequent excessive quantity node to carry as help on the 0.68 worth space. If I have been to be uber grasping and bearish, I’d additionally have a look at 0.41 as a degree to check earlier than resuming any additional upside momentum. Nevertheless, if we get a collection of every day closes above 1.80, then I would enter some orders in at these ranges if the every day quantity is acceptable.
Above: Polygon (MATICUSD) Chart
Polygon has actually bucked loads of the development of some continued promoting that many cryptocurrencies have skilled within the latter half of this week. Because of this MATIC is both going to buck the development and diverge from the broader market – or it’s only a laggard and we haven’t seen a corrective transfer but. I’m undoubtedly within the camp of it’s a laggard and underneath risk for draw back stress. I additionally challenge that Polygon’s retracement goes to be extra violent than different cryptocurrencies as a result of it has remained close to its all-time highs for a lot of the week. Hell, Polygon hasn’t even examined the 50% Fibonacci Retracement when so many different widespread and excessive market cap cryptocurrencies have executed so. The 2 most vital ranges I see on Polygons chart are the 38.2% degree at 0.7990 and the 50% degree at 0.5366. Each of these Fibonacci Retracement ranges have a correspondingly excessive quantity node in the identical worth space. We could even see a flash crash if Polygon strikes to the 38.2% Fibonacci Retracement as a result of a transfer under the 38.2% degree would additionally imply a transfer under a excessive quantity node. The profile could be very, very skinny between 0.7990 and 0.5366.
Above: Litecoin (LTCUSD) Chart
Litecoin has a bucket stuffed with ugly in its close to time period worth motion for anybody remaining bullish proper now. In a nutshell, I believe we’ll see a really fasts journey to the 161.8% Fibonacci Extension at 90.17. 90.17 is only a hair above a excessive quantity node at 80.50. The important thing degree that Litecoin would wish to interrupt is a shared worth space at 122 – 125 the place a excessive quantity node and the 100% Fibonacci Extension degree exist. The quantity profile is skinny, however to not skinny between 122 and 90.
Above: OmiseGO (OMGUSD) Chart
I haven’t executed a assessment on OMG for some time, however after I was doing a little evaluation this morning, I believed it appeared adequate for all of us to take a peek at. The important thing degree I’m taking a look at placing in a restrict purchase order at is between 1.744 and 1.5650. The VPOC (Quantity Level Of Management) is in the identical worth space as 1.560 and 1.744. Nevertheless, I believe we might even see OMG discover some help towards the 0.618 Fibonacci Retracement at 3.78 and the 50% Fibonacci Extension at 3.80.