The price of Bitcoin has broken the key resistance reaching $ 5,600, a new high in 2019. This new level also adds more weight to the growing dominance of the cryptocurrency over the rest of the altcoins, with an amazing 53.7% and in the middle of a bullish rally that promises to place BTC above the 100 trillion dollars of stock market capitalization.
This has consequently brought a mixed market with bullish positions for some projects, especially in the upper part of the top ten cryptos and on the other hand, an interesting fight in the last positions of this ranking, with important corrections in Stellar prices, Cardano and Tron.
TRON (TRX) Price Prediction
The cryptocurrency of Justin Sun recently announced that it had managed to catapult the number of registered users in a little more than 8 million of registered wallets and that they had been able to obtain 50% of the USDT available in the market so far in 2019.
#TRON now occupies 2% of total #USDT supply, 50 million out of 2.5 billion. Goal for Q2 2019: Surpass #Ethereum & achieve 10%. We will reach 50% of #USDT in 2019! Check here: https://t.co/5mgLRNfGmq #TRX $TRX #BTT $BTT pic.twitter.com/MXz6RygFzY
— Justin Sun (@justinsuntron) April 21, 2019
Despite these important achievements, TRON with its TRX token, presents a corrective scenario currently in the prices. At the time of writing the TRX cryptocurrency, it is quoted at the spot price of $ 0.0248 with a contraction of -1.6% in the last 24 hours and a market valued at just over $ 1.6 trillion dollars, which places it in the position 11 of the global ranking.
In the current scenario, Tron presents a price correction that is expected to reach levels close to its immediate support of $ 0.0195 (S1), being its ideal time of entry for investors seeking to enter the range of $ 0.020 in depth.
As we can see in the previous graph, TRX is drawing its second wave to enter then an upward rally to its third wave of Elliot to levels close to R1 already reached, which would generate a profit to those who enter at the point ‘D ‘up to 45% of profits.
The previous scenario is corroborated by Aroon Uptrend, which remains in the background, giving symptoms of a short-term resurrection.
To confirm the previous theory for TRX, we analyzed the moving average of the cryptocurrency for 30 and 100 days, whose cross indicates that a bearish cross is in development for a definitive correction of prices.
This is confirmed by RSI, which is in the sales area and this exactly matches the Elliot Wave pattern.
STELLAR (XLM) Price Prediction
It is the ninth cryptocurrency of the ecosystem and currently at the time of writing, Stellar (XLM) presents a price of $ 0.112 per unit, with a correction in its price of just over half a percentage point (-0.55%) in the last 24 hours.
In our last post, we had analyzed the positions of XLM for weeks 15-16 and as we projected, the forecast of a price correction was imminent, according to the bearish EMA cross for that time.
Stellar (XLM) currently present the ideal point of entry for all investors anxious to obtain good profits in the short and medium term. This we can appreciate by the oscillating movement fulfilling the Elliot pattern in its second wave at the moment.
The Chaikin Money Flow indicator has already shown that the fund has come to an end, and that the upward start of its third wave to generate profits above 40% in the short-medium term is just around the corner for Stellar (XLM).
The worst scenario would take us to a depth where XLM will be at levels of S1 below ten cents, which would extend the range of gains for investors who support a bull run to levels of R1 or close to it.
CARDANO (ADA) Price Prediction
It is the last cryptocurrency of the market’s top ten, by market capitalization with its almost $ 2 billion dollars in its ecosystem, thanks in part to its quotation price of just over $ 0.075, -2.34% in the last 24 hours.
The ADA panorama is nothing different from the rest of the two assets previously presented in this post. Cardano (ADA) has made a spin ball to project its first wave at correction values close to $ 0.05 to then grab a bullish momentum that allows the cryptocurrency advance up by about 50% in its prices.
The Stochastic indicator thus begins to suggest, with a slight change in its extreme that tells us that soon Cardano (ADA) will leave the current sales area in which it is sunk.
On the other hand, the Cardano token, ADA, would be close to reaching its level close to 30 days lower, so after this, we could see the cryptocurrency catapulting its prices back to levels of immediate resistance R1 close to ten cents per unit.
As we can see, this group of cryptocurrencies in the lower part of the top ten table of the general ranking present an excellent opportunity to enter profits in the short term.