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Cardano, Stellar, Ethereum Classic Price Analysis: 25 August

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Source: Pixabay

Cardano has been moving steadily along its long-term development plan, launching Shelly last month while the Ethereum Classic network had revamped its security measures to prevent further attacks after exchanges lost millions in a recent 51% attack. In the short-term, Cardano and XLM are in a downtrend, while ETC showed little momentum either upward or down.

Cardano [ADA]

Cardano, Stellar Lumens, Ethereum Classic Price Analysis: 25 August

Source: ADA/USDT on TradingView

ADA has been setting lower highs since its high at $0.151 on 9 August. RSI showed a value of 42 at press time and has failed to break past the 50 neutral line. This indicated a downtrend that could continue over the coming days.

The next support in the short-term lies at $0.115. Another level with historic significance is $0.87. In related news, EMURGO, the blockchain technology company that is behind driving Cardano adoption, recently announced a partnership with Moonstake to boost staking adoption and improve the number of ADA users.

Stellar Lumens [XLM]

Cardano, Stellar Lumens, Ethereum Classic Price Analysis: 25 August

Source: XLM/USD on TradingView

XLM was trading near support at $0.101. It was previously written that the rise to $0.106 might not hold.

Directional Movement Index indicated the absence of a strong trend. ADX (yellow) is below 20, signifying a lack of strength, while +DMI (blue) was below -DMI (pink). Taken together it showed the presence of a weak bearish trend.

The next level of support is found at $0.095. Stellar Lumens held rank 14 on CoinMarketCap, with a market cap of $2.13 billion. It had a 24h trading volume of $170 million, which was quite below the daily average for the month of August.

Ethereum Classic [ETC]

Cardano, Stellar Lumens, Ethereum Classic Price Analysis: 25 August

Source: ETC/USD on TradingView

Ethereum Classic found support at $6.7, where it was trading at the time of writing. Awesome Oscillator showed weakening bearish momentum over the past few days, but did not yet signal a shift in momentum.

If support $6.7 failed, ETC could drop lower to $6.

In the wake of 51% attacks, network security changes were rolled out to guard against further attacks of the sort.

 

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Having studied Chemical Engineering, Akashnath's focus is on the UK and Indian markets and especially crypto assets. He is devoted to technical analysis and is always on the lookout for investment opportunities.