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Surprisingly, Bitcoin (BTC) and Stellar Lumens (XLM) are two coins that absorb resilient sales pressure. Even if they are falling, their losses are lower than some as EOS and IOTA which are deep in the negative territory. Regardless, sellers are still on the front line and we may see further losses especially in the altcoin market if we see a fall in Bitcoin prices below $ 5,800.
Let's take a look at these graphs:
Bitcoin (BTC) Technical Analysis [19659005] Highlights
Following in the footsteps of Crypto friendly Gibraltar, the Jamaica Stock Exchange (JSE) will soon enable investors to easily exchange Bitcoin and other digital assets with the assistance of Blockstation in Canada. With an existing MoU, investors will be able to securely and securely exchange encrypted assets within a space approved by the regulator and become one of the first exchanges to allow encryption.
Technical Analysis
It's a little bit Of stability in the market and as long as BTC prices are held above $ 5.800, our main support and sales line, there is hope for buyers.
In the previous analysis of Bitcoin (BTC) prices, we insisted that buyers would return to contention if there was a push toward the top volume of more than $ 6,800.
On the back, any dip and close below $ 5,800 and the rest of the money market, particularly those without support fundamentals, would probably be dragged down
So, before they are satisfied our commercial conditions are undefended, remaining neutral with a downward trend is just a secure commercial strategy.
Stellar Lumens (XLM) Technical Analysis
Highlights
Basically, Stellar Lumens is collecting large quantities from that great voice of Facebook. Then, the screw had that Facebook was actually planning to launch its own cryptocurrency on the Stellar network and while Facebook officials met with members of the Stellar team, the social media giant has since poured cold water on these hot items, even if it helped stabilize the price for a while . However, Facebook's interest in blockchain and cryptocurrency can not be ignored because they have a former CoinBase-David Marcus board member, who leads their own blockchain team.
Technical Analysis
Thanks to the general price slippage of altcoins and in particular of EOS, Stellar Lumens is now the fifth most valuable currency in the sphere with a market capitalization of $ 3.96 billion at the time of
This did not however prevent the sellers from cutting out a bit of XLM valuation since the currency is now trading below 22 cents compared to the previous purchase line. Similarly, we urge patience until there is a push beyond 26 cents – on August 4th the highs of high volumes or 18 cents, the lows of 2018.
Although we could see a sequel while XLM prices they synchronize with the general trend, yet conservatives should resist until our business plans are met.
On the other hand, the aggressive can shorten the spot price by stopping at the highs of August 13 at 24 cents with immediate targets at 18 cents and later at 15 cents. [19659004] EOS Technical Analysis
There was a reversal of EOS's courtesy that slipped 35% in the last week alone and has further lost seven percent in the last 24 hours helping to push the price to $ 4.
As elaborated in our latest EOS plan, $ 4 is our main line support and lows of 2018 and a risk / return ratio does not make any commercial sense in the short to current prices. As we can see, the prices are less than 50 cents from the main line of support and sales target and for this reason, we suggest to remain neutral with a bearish inclination, even if those that are net should move their stops for jogging or even stopping some profits.
Now, there should be a strong volume break below the lows of 2018 to $ 4, so selling on $ 4 backstations and first goals at $ 2 would be our commercial strategy in the future.
Tron (TRX) Technical Analysis
Highlights
Justin Sun's recent acquisition and Tron's subsidiary, BitTorrent is now one of the platform's Super Representatives.
Technical Analysis
Despite these rampant sellers, it seems likely that we could see support today and that's all because of yesterday's candelabra. As we can see, we had the longest wick with a small upper wick that indicated that Tron was rejecting the lowest lows.
If the pressure is reversed to this day, we could see the TRX reduce losses and slow down the decline towards January 24th, our last targets for bears.
On the other hand, the only candle able to cancel this projection is if TRX buyers gather sufficient momentum above the highs of August 13 at 2.2 cents and will eventually repeat 2, 5 cents on the back of abnormally high trade volumes
This would show support and increase in market participation, but we still need prices to close above 2.5 cents before the cancellation of our short sale.
Litecoin (LTC) Technical analysis
Highlights
Charlie Lee continues to launch Bitcoin and in a tweet said that the atomic exchange function of Litecoin will effectively make the side chain of Litecoin Bitcoin assured by mining evidence and hash rate of this last one.
Technical Anal ysis
A loss of 24% on week to week, exacerbated by the decline of seven percent in the last 24 hours, quickly driving Litecoin prices towards the lows of the fourth quarter of 2017 and the objectives of the first bear. But, while bears have been on the frontline for the last two weeks or so, we do not recommend sales because our risk reward ration blocks us.
It will not make sense to say at least now that we have a nice rejection of the lower lows after the yesterday's closing of the bar pin
For the continuation of the trend, sellers should build enough momentum and surpass that $ 50 plan and when this happens, traders will be able to resume their synchronization with the on-the-spot sales trend with yesterday's high stops at $ 50- $ 55 with the first targets at $ 33 or the lows of the third quarter of 2017.
If not, and c & # 39; is support, any close above the highs of August 10 to $ 65 cancel this sales projection of Litecoin.
Disclaimer: are those of the author and are not investment advice. Trading any form involves risks, as well as your due diligence before making a commercial decision.
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