Scott Melker Analyzes Ethereum, Binance Coin, Cardano, Dogecoin, XRP, Polkadot and Uniswap Situation

Crypto analyst Scott Melker tracks key levels to look at the best altcoins by market cap. Melker says Cardano's current price action shows directional uncertainty, but the key level to watch is $1.50. “ADA/USD – really rough chart, really weird to look at. It's not as bad as it is bad, just too many sideways heels. Big step, big step down. All sorts of indecision converges everywhere – it's just a very difficult picture to read. Turning to Ethereum, Melker says the second-largest crypto-asset by market cap has formed a complex head and shoulders pattern and the resistance level has just closed. To spark another rally. $3,000.” We need to see this resistance break here to start feeling optimistic about Ethereum. …Based on the depth of this pattern, you can see that this will eventually be the target here, around $4,133. In the case of Binance Coin (BNB), Melker also says that this is a "complicated upside and shoulders” pattern. The analyst predicts that the asset, which is currently trading around $380, will face resistance above $420. “BNB/USD looks exactly like this ETH. I've shown the /USD chart before. A kind of complex inverted head and shoulders. If it blows out it gives us a target somewhere in these areas and you can see $423 will be a major resistance and this whole area is around $500 to maybe $510, $520… something like that. With Ripple's native asset XRP, the analyst says the cryptocurrency remains bullish as long as it continues to trade above $0.79. As for Dogecoin (DOGE), the Melker meme coin fell from just under $0.30 to $0.40 on Monday. He says it is an indication that the dollar is going above an impending break. “This looks like an epidemic and a new test. The problem is again lack of volume. But technically one, two, three, fo

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