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These 4 Coins Are Still Trading Above Their May Lows - ADA, HNT, KCS, and LRC Price Analysis

Analytics

coincodex.com 17 June 2022 16:13, UTC
  
Reading time: ~4 m

Bitcoin is down by a precipitous 31% this week as the coin sinks toward the $20,000. As a result, BTC plummeted beneath the low created during the mid-May capitulation at $25,400. With Bitcoin heading lower, it is no surprise that most of the altcoins have plummeted to multi-year lows alongside it this week.

However, a handful of tokens are still yet to break the May 2022 lows. This could be a potential signal of bucking the trend, or they could just be lagging behind the overall market. In both scenarios, a trade can be made depending on where the market head next.

The coins we will cover today are Cardano, Helium, KuCoin Token and Loopring.

Cardano price analysis

Cardano is down by 18% this week as the cryptocurrency sinks beneath the $0.5 handle to reach the current $0.483 level. The May 22 low for ADA was set at $0.385, which also provided resistance for the market in January 2021. ADA is still yet to reach this low. 

ADA is currently ranked in the 7th position with a market cap of $16.37 billion. It is currently sitting 84% off from its all-time high price of $3.10.

Cardano price short-term prediction: Bearish beneath $0.436

ADA/USD is currently neutral right now but will switch to bearish beneath the support at $0.436. Before then, the market has strong support at $0.468 and $0.46. This is followed by $0.436. Additional support is then expected at $0.4 and then at the May 2022 low of $0.385. 

If the sellers break beneath the May lows, additional support is expected at $0.345 (downside 1.414 Fib Extension), $0.3 (downside 1.618 Fib Extension), and $0.25.

On the other side, the first level of strong resistance lies at $0.5. This is followed by resistance at the 21-day MA at around $0.56. Additional resistance lies at $0.588 (bearish .382 Fib), $0.6, and $0.65 (June 2022 resistance).

Keep up to date with all the latest Cardano price predictions on CoinCodex.

Helium price analysis

Helium is down by a slight 6.25% this week as the cryptocurrency battles to break resistance at $11.60. The low in May for HNT was set at $6.54, and Helium has been relatively bullish during June - bucking the market capitulation.

Nevertheless, HNT is still down 80% from its all-time high price $55.17 and currently sits in the 41st ranked position with a $1.33 billion market cap.

Short-term price prediction: Bullish above $12

HNT/USD can be considered neutral right now, and it would turn bullish if it could clear the resistance at $12. 

Looking ahead, the first level of resistance lies at $11.60, provided by a bearish .236 Fib Retracement. This is closely followed by resistance at $12. Above $12, resistance lies at $14 (1.272 Fib Extension), $14.75 (bearish .382 Fib Retracement), and $16 (1.618 Fib Extension & 100-day MA).

On the other side, the first level of support lies at $10 (50-day MA). This is followed by support at $9.50 (21-day MA), $9, $8, and $6.80. 

Keep up to date with all the latest Helium price predictions on CoinCodex.

KuCoin Token price analysis

KCS/USD is down by a total of 30% this week as it currently sits at around $11.12. The low during the May market capitulation was set at $9.55 for KCS, and the token went on an incredible run to reach $18 at the start of June. 

Since then, however, KCS tanked during the latest selloff but is still yet to break beneath $10 and test the May 2022 lows.

KCS is currently ranked in the 55th position with a $888 million market cap value. It is currently sitting 62% off of its all-time highs of $28.80.

KuCoin Token price short-term prediction: Bearish beneath $10.72

If KCS breaks beneath the current support at $10.72, the market is likely to turn bearish in the short-term.

Looking ahead, the first support lies at $10.72 (downside 1.272 Fib Extension - blue). This is followed by support at $10 and $9.55 (May 2022 lows). Additional support can be expected at $9, $8.84 (downside 1.272 Fib Extension - green), $8, and $7.80.

On the other side, the first resistance lies at $12. This is followed by $14, $15.50 (50-day MA), $16, and $17.22 (bearish .618 Fib Retracement).

Keep up to date with all the latest KuCoin Token price predictions on CoinCodex.

Loopring price analysis

Loopring is down a total of 24% this week as the coin currently sits at $0.368. The low for the mid-May market capitulation was set at $0.326 for LRC, and it is still yet to break beneath this level.

Loopring is now ranked in the 79th position as it currently holds a $495 million market cap value. It is currently 90% off of its all-time high of $3.77.

Short-term price prediction: Bearish beneath $0.326

Loopring will turn bearish if it breaks beneath the mid-May lows of $0.326. It would need to break above $0.6 to turn bullish again.

Looking ahead, the first support toward the downside lies at $0.357 (downside 1.414 Fib Extension). This is followed by support at the May 2022 low of $0.326. Beneath the May 2022 lows, support lies at $0.3, $0.27 (downside 1.272 Fib Extension - green), $0.25, and $0.227.

On the other side, the first resistance lies at $0.4. This is followed by $0.5 (21-day MA), $0.54 (50-day MA), $0.61 (bearish .382 Fib Retracement), and $0.65.

Keep up to date with all the latest Loopring price predictions on CoinCodex.


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