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As bitcoin slows, news on the acquisition of Chain Stellar Foundation has slowed down the losses of XLM and instead injected momentum that pushed prices towards 22 cents. Although XLM does not hold much space in the crypto space, these gains are a relief and could stimulate the next wave of altcoin buyers who might reject the lower lows. After all, the US SEC could change position on Bitcoin ETF and follow the Canadian route to reinvigorate the diminishing hopes of the cryptic investors.
Let's take a look at these charts
Bitcoin (BTC) Price Analysis
Highlights
While the US SEC "works" Canada broke the ice on material investments when it approved the First Bitcoin trust fund through First Block Capital Inc, an equivalent of mutual funds, allowing accredited investors to channel their capital from retirement savings or Tax Free Accounts to Bitcoin.
Although there are restrictions and retail traders are prohibited from investing in a market that is considered volatile and risky, institutional investors can buy units of this Bitcoin trust fund available on Neo Connect under the FBCBT symbol ticker.
In this agreement, buyers of FBCBT units would have exposure to Bitcoin but will not hold the underlying asset in the same way as ETFs are structured. History shows that Canada always leads the United States in the field of finance and the adoption of new commercial instruments and even if the US SEC "protect" their investors from "unregulated and unverified" cryptocurrencies, the leap of trust shown by the Canada could, after all, defrost the US attitude towards the rejuvenating market of Bitcoin's ETF.
Price Analysis
Wise Price, Bitcoin is quite stable and even bullish attempts in the last day is not enough to change our bearish position. After all, last week was extremely bearish with BTC recording double-digit losses
Considering the rapid rate of falling prices and the level of market participation, it is obvious that bears could accelerate their flight.
Recommended by this to maintain a negative outlook and even if it would be ideal for sellers who violate and close below our support zone between $ 6,000 and $ 5,800, any closing below $ 6,000 today or the Next day will trigger the first wave of sales positions with conservatives going full throttle once prices close below the lows of 2018 or the lower limit of our support zone. As before, our targets for bears remain at $ 3,000 with expected milestones at $ 4,500
EOS Price Analysis
Highlights
$ 4 billion later and looks as if Block One, the 39, publisher of the blockchain EOSIO does not have "clue" of what to do with the money / profits. While it was clear that part of their annual inflation would be channeled to a treasury that will finance the development of dApp, the proceeds from the sale of EOS tokens remain blurred. So far, there is no official work portfolio. Nor is there a solid dApp from the team and this is a cause for concern.
Price Analysis
A drop of four percent in the last day and the weight of the September 5 selling pressure is starting to fall show in EOS.
Needless to say, following a 25% decrease in the single day of September 5, the reason has been set by the sellers and as long as prices are below $ 7, traders must maintain a bearish position. From the way the chandeliers are arranged, we recommend that you negotiate today until there are no solid breaks under $ 4, the lower limit of our $ 1 support zone in the daily chart.
However, sellers can start the spot rate courts with a $ 5.5 stop and ambitious $ 1.5 targets, the same conservative target investors should once again aim for EOS break and close below $ 4
Litecoin (LTC) Price Analysis
News Highlights
C & # 39; is a new update for Litecoin core: version 0.16.2 and all users are welcome to update to this new edition. Launched on September 3, the release team said the update corrected several bugs and made some improvements to the code making it more robust. The development team has abolished the -blockmaxsize option and has instead created a specific way for miners to decide the weight of their blockchain through the -blockmaxweight option.
Price Analysis
A seven percent drop in the last day of Litecoin one of the best losers in the top 10, after the second only to Cardano (ADA).
Visibly, it is likely that today we could see a whole print of candles under the value of $ 50 that doubles even from 2018 in August triggers sales as pointed out in previous LTC business plans.
However, considering the erosion rate, aggressive traders can charge at spot prices with a stop at $ 60 and aim for the penultimate $ 30 level support. On the back, any sudden spike in price that gains above $ 60 rebalances this projection and cancels our downward position
Tron (TRX) Price Analysis
Despite the partnerships, trading quotes and TRX use different outlets such as Bitcoin Superstore, TRX is struggling with sellers.
From the rankings, TRX is declining by tending eight percent in the last day and risking breaking below the 14th pin bar and low at 1.5 cents.
If this happens today and a whole candlestick is printed below this level, we suggest to take shorts with targets to the historic minimums of Jan 24.
Meanwhile TRX sales transactions are still ongoing and traders can actually collect profits when operators anticipate bears to breach 1.5 cents.
Stellar Lumens (XLM) Price Analysis
Highlights
Stellar Foundation, the custodian of Stellar blockchain ac has requested a cash chain for around $ 40 million, a source revealed by the question. The new acquisition led to the formation of a new entity, Interstellar where former CEO of Chain, Adam Ludwin, will act as CEO of the project while Jed will occupy the CTO position. The agreement was concluded on September 5 although there was no official communication from the two parties
Price Analysis
the market was immediate and so far XLM has contained losses after initially adding eight percent.
Although we now have a reversal print of the bullish three-bar model right in the middle of the sellers, the fact that this reversal took place around 2018 the lows could potentially be a hint of good things to come.
For this reason, traders should come out of their courts and hold trading only until XLM prices will not exceed 25 cents. When this happens, buyers can charge on dives with targets at 30 cents and later 50 cents.
On the other hand, any clip of yesterday's earnings that reports prices below 18 cents could potentially lead to XLM printing 8 cents in the days to come.
Disclaimer: The opinions and opinions expressed are those of the author and do not constitute an investment advice. Trading any form involves risks, as well as your due diligence before making a commercial decision.
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