Stellar Lumens, Litecoin & Cardano — Asian Wrap 11 May
XLM price fades as Stellar briefly strikes an all-time high
XLM price has staggered higher, beginning in April with a marginal new high, then today’s brief spike into new highs. The failure of XLM price above the topside trend line resistance and the 461.8% Fibonacci extension of the 2019-2020 bear market should put traders on the defensive.
Litecoin price nears all-time high, but LTC headwinds escalate
Litecoin price has been a consistent winner since September 2020, traveling in an ascending channel. The upside is likely limited in the short-term due to the extended price condition and the omnipresence of the all-time high providing durable resistance.
Cardano Price Forecast: ADA boldly emerges, with higher prices anticipated
Cardano price kickstarted a new rally on May 5 with a breakout from a cup-with-handle base, rising above the longstanding trading range and setting new all-time highs. Since the beginning of February, it was the best week and puts ADA on pace for an additional 30% gain.