·         Point and Figure Charting Analysis provides clear and concise information.

Cardano (ADA)

ADA

$0.09 is the top of this current column of Xs. Since we are using a 3-box reversal with a $0.05 box size, a new column of O’s wouldn’t print until price closed at or below $0.07. Cardano (ADA) has come very close to that situation playing out as Cardano has been flirting with breaking down below that level for the better part of the day. A conservative trader may want to wait until price moves above the upper downtrend line at $0.11 as an entry. Otherwise, the trend here remains bullish as long as price remains above the double-top at $0.085. And we will more than likely have to wait a little longer to see prices move into a new bullish range. That would happen when price moves to $0.0185.

Litecoin (LTC)

LTC

Litecoin has easily outperformed both Bitcoin and Ethereum, but it peaked early and has struggled to maintain its gains. After very nearly moving up to the key $100 value area, it has sold off and remained near the $75 range. That level a double bottom and could be the right shoulder of an inverse head and shoulder pattern. A head-and-shoulders pattern is, of course, only valid after the neckline has been broken. And I’ve always said that trading a head and shoulder pattern before it is validated is like chasing straights or flushes in poker – you will get burned. Knowing that this pattern could develop can help me determine an entry. Entry at $93 would fulfill two bullish entry criteria. First, a double top at $92 would be broken. Second, the neckline of a head and shoulder pattern would also be broken. An aggressive entry would be at $84 when price moves above the double top at $83.

Steller Lumens (XLM)

Stellar Lumens has created some ugly short term moves, especially with regards to its Bitcoin pair. But its US Dollar pair remains fairly stable and reliable. There is a double top at $0.13. A normal buy entry would occur when Steller Lumens closes above towards $0.135.

Quantum (QTUM)

QTUM

Quantum has had some significant bullish fundamental data, especially in regard to its collaboration with Amazon. However, it has not been immune to the normal and frequent bearish drives that affect the aggregate cryptocurrency market. The market lows for Quantum were fought over very strong from December of 2018 to April of 2019 – a battle that continues. A bullish trendline has been established and has held thus far. The most recent high is at $3.60 – so a bullish entry signal would occur when price closes at $3.70. However, there are two downtrend lines in close proximity to that entry. A conservative entry would be after price breaks those trendlines, with an entry at$4.20.