Mark Putrino

Stellar Lumens (CRYPTO:XLM) has broken the resistance at the 66-cent level and made a big move higher. This isn’t surprising. When important levels break, big moves follow. The 66-cent level was resistance in April. It was also resistance over the past week before today’s move. Will it hold?

Some price levels are more important than others. The Polka Dot (CRYPTO:DOT) rally has stalled out at the $40 level. There is resistance at this level because it was support, and there was support at the level because it had been resistance. Resistance turns into support because of seller’s remorse.

Traders of Luna (CRYPTO:LUNA) have decided to take a stand. The sellers have been at the $17.80 level. Each time over the past three weeks that LUNA reached it, the sellers beat back the buyers. The buyers have held firm at $16.20. Each time LUNA has dropped to this level, the buyers stepped up and took it higher.

After becoming overbought, Ethereum (CRYPTO:ETH) is consolidating or trading sideways. This was expected, as cryptos often consolidate after becoming overbought.

Cardano (CRYPTO:ADA) has hit a wall of resistance at the $1.35 level. If it breaks through, there’s a chance it makes a big move higher as Ethereum did on April 28.