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Our mascot is happiest when he's riding on a bull, breaking past all resistances and achieving new highs, so he thinks the bull market is the perfect place

Our friendly mascot is happiest when he’s riding on a bull, breaking past all resistances and achieving new highs, so he thinks the bull market is the perfect place to be.

He loves HODLers and loves to be with them. He is fast, agile and always happy, or at least he tries to.

He will be assisting us in all our future posts on Coinnounce and would ride the roller coaster that the crypto markets are here to offer.

Founded in 2018, Coinnounce is a young and energetic team of cryptocurrency and blockchain enthusiasts and dedicated to providing the top coin news in the fastest possible time to our readers.

Coinnounce’s audience is growing every day, with our Top 8 countries of visitors (according to Alexa: http://www.alexa.com/siteinfo/coinnounce.com) being from United States, Netherlands, United Kingdom, India, Canada, Australia, Germany & South Korea. Our audience includes early adapters of blockchain technology, bitcoin enthusiasts and cryptocurrency lovers. Coinnounce is also popular with bloggers as well as Twitter & Facebook users.

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#Daily Price Analysis

XMR Daily Trading Signals: 24 October

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Dominant bias for MONERO (XMR)- Ranging

Resistance Levels- $114.00, $116.00, $118.00

Support Levels- $104.00, $102.00, $100.00

 

XMR is in a range-bound market. The bears lost momentum at 106.24 in the support area on 22nd October. The bulls’ gradual return was signaled with a bullish engulfing candle that broke the 34 EMA and XMRUSD was up at 107.98 in the support area. Increased bullish momentum saw XMRUSD at 112.85 in the resistance area on 23rd on October. but closes with a wick which implies the bear are gradually back within the range

 

XMR 4-hour chart

XMR 4-hour chart

 

XMR Price is above the 34 EMA and the relative strength index is at 66% but it signal points down which implies downward movement within the range may occur.

XMR is in consolidation and trading between $112.42 in the upper resistance area and at $105.14 in the lower support area of the range. Traders are advised to be patient at this critical period for a breakout at the upper resistance area or a breakdown at the lower support area before taking a position.

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#Cardano Price Analysis

ADA Daily Trading Signals: 24 October

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Dominant bias for CARDANO (ADA)- Bearish

Resistance Levels- $0.08800, $0.09000, $0.09200

Support Levels- $0.07000, $0.06800. $0.06600

 

ADA is in a bearish trend.  After the loss of the bullish pressure that saw ADAUSD at $0.07939 in the resistance area on 21st October, the bears’ return was gradual. Initially, the cryptocurrency was down to $0.07680 in the support area before closing same day. The increased bearish pressure led ADAUSD to $0.07610 before minor bullish pullback on 22nd October that pushed the cryptocurrency up $0.07771 in the resistance area. Today’s 4-hour opening candle at $0.07616 formed a bearish railroad an indication that the bears are back and price may head south.

 

ADA 4-hour chart

ADA 4-hour chart

 

Price is below the 34 EMA a plus to the bears’ pressure coupled with the relative strength index signal pointing down it implies downward price movement of the cryptocurrency may be inevitable.

The downward trendline serves as a strong resistance. Each touch of price on it result in a breakdown. A breakdown may be expected as the price is around it. $0.07200 in the support area may the initial bears’ target

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#Daily Price Analysis

XRP Daily Trading Signals: 24 October

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Dominant bias for XRP- Ranging

Resistance Levels- 0.6000 $0.6500, $0.7000

Support Levels- $0.3500, $0.3000. $0.2500

 

XRP continues in a range-bound market. The bears successfully took control of the market after the formation of a bearish railroad at $4617. XRP was initial down to $4567 and later to $4444 in the support area. Attempts to continue the downward journey within the range was rejected as a doji was formed, a good signal for reversal. The bulls did return and took XRP to $4853 in the resistance area.

 

XRP 4-hour chart

XRP 4-hour chart

 

The morning star formation was confirmation for the bullish takeover within the range. The price rose $0.48534 in the resistance area.

Price is above the two EMAs and the stochastic oscillator at 45% and its signal points up. This implies upward price movement within the range due to the bullish increased momentum.

XRP is in consolidation and trading between $0.4819 in the upper resistance area and at $0.4425 in the lower support area of the range. Traders should be patient at this period and allow a breakout at the upper resistance area or breakdown at the lower support area before taking a position with good reversal candlestick pattern that confirms the direction.

 

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