Stellar, Dogecoin & cardano — Asian Wrap 19 Oct
XLM price continues to pull back from the highs it made on Saturday. There are growing concerns regarding its ability to maintain its present momentum. XLM price has a very bullish set up on its $0.01/3-box Point and Figure chart. When XLM hit the $0.42 price level, that was the breach of the dominant bear trend angle on the Point and Figure chart.
Dogecoin price has gained as much as 15% during the Monday sessions, outperforming nearly all significant cryptocurrencies. Roughly half of that gain has been retraced, but buyers show resilience in maintaining a stable trading range near the $0.25 value area. Dogecoin needs to close at or above $0.28 to begin a new bull run.
Cardano price has been a source of frustration for bulls and bears. Multiple setups and positions for bearish and bullish breakouts have been rejected, with the ultimate result being continued constriction in price action. Currently, the price action leans bearish, and it could trigger a fast test to some previous lows.