Generally, altcoins are in decline and as long as Bitcoin is subjected to a huge sales pressure, they will continue to print lower lows, unless there are specific news on coins that alter the prices of our analyzes Litecoin, Stellar Lumens , EOS, Monero or Cardano
Let's take a look at these graphs:
EOS price analysis
Although EOS is now the fourth precious currency in space thanks to the upheavals of Bitcoin Cash, currency valuation is falling just like the market.
After all, with regard to trading on altcoin and EOS, investors and market players in general are experiencing declining trends and losing ground. By all accounts, bears may slow down, but our previous EOS / USD trade plan is still valid as long as prices are less than $ 4: our immediate resistance line and previous support.
As before, it will be ideal if we see a pullback towards $ 4 which offers another opportunity for traders to download their EOS further by feeding the drops to our ideal bear target for $ 1. , 5. However, drops lower than November 25th to $ 3 could call for further declines in sales pressure drop to our bear target.
Litecoin price analysis
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There is a temporary suspension for Litecoin investors. After days of implacable lower lows, the LTC / USD is now stable and extends to $ 30, our minor line of support.
In line with our previous LTC / USD business plan, we will maintain a bearish outlook, but before the bears resume the trend, LTC could consolidate or rebound towards $ 40 before collapsing.
But otherwise, prices fall below $ 30, so we suggest traders to download LTC once the full bar closes below $ 30. Once printed, it is likely that LTC will drop to $ 20.
Price analysis of stellar luminaires
After months of horizontal consolidation in a range of 15 cents with caps at 30 cents and support at 15 cents, Stellar Lumens eventually broke below 15 cents confirming the bear breakout model at the beginning of June.
Since we now have a net break below the support of 15 cents, both traders can start to download Stellar Lumens according to the latest XLM / USD trading plan with the first 8 cents targets despite XLM losing 90 percent compared to the peaks of 2017.
The safe stops will be at the highs of 25 November at 17 cents, but if this stop is hit, we will return to the neutral position.
Price analysis of Cardano
ADA is up to 10th on the liquidity list after 13 days of decline that saw ADA / USD print new lows. From the previous ADA / USD price analysis, we had advised traders to unload their holdings once there were heavy losses below the main support – now the 6 cents resistance level.
Now that this has happened, traders can continue to sell on-site with stops at 4.5 cents and let the trade flow without a defined objective. The only time we will cancel this bearish preview is when there is a clear bullish pump with a strong market share.
Monero price analysis
Yesterday's loss of nine percent means that Monero-XMR fell to 11th and ready for further losses, as the XMR / USD broke from $ 70, with the previous support, now the resistance.
In a clear pattern of bear breaking, we expect bears to rise and push prices to $ 30 second-quarter lows. In this case and because the path of least resistance is clear, traders should download XMR with a stop to $ 70 with first goals at $ 30.
All graphics courtesy of Trading View
Disclaimer: The opinions and opinions expressed 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.