Bitcoin, Cardano & Stellar – American Wrap 30 June
Bitcoin, Ethereum and Ripple overcome minor resistance levels in the latest step of advancing their rebounds from June 22 lows. Significant obstacles remain, creating technical headwinds as the cryptocurrency complex attempts to leave the second quarter corrections in the past. Meanwhile, the South Africa financial regulator says its hands are tied in an alleged $3.6 billion Bitcoin fraud, but it will introduce new regulations in the coming months.
Cardano price has broken a trendline to the downside and couldn’t close above $1.40. The profit-taking in the markets is not helping to support ADA from going higher. To the downside, the only real first support sits at $1.15. Cardano price needs to dip lower first for buyers to pick up ADA again and it higher.
XLM price is being supported by an upward trend line from June 22. The correction now is no worry as the intermediate $0.267 level is holding as short-term support. After a few consecutive days of straight gains, we see some profit-taking in markets in general. XLM price bounced off intermediate support and seems technically set up to go to $0.30.