Technically, we remain net on the downside of EOS, Litecoin, Stellar Lumens, Tron and Cardano (ADA). However, of all these coins, Cardano is at a point of inflection and if the sellers will regain the momentum of last week, we will see new ATLs for ADA. The same applies to Tron and Litecoin, which is finding temporary support after yesterday's double upside reversal pattern. Any move above the last three or four days of consolidation could trigger a surge in pressure towards the 5 September highs.
Let's take a look at these graphs:
EOS Price Analysis
On a weekly basis, EOS is down 20% but on daily basis, prices are relatively calm. Even if prices are following the bears on September 5th, the last three or four days of trading have been slow to say the least.
In fact, yesterday's candelabra has been bullish effectively reversing Saturday's losses and completing a reversal double-bar model boom in the process. Needless to say that the EOS bears are technically in charge, but if today they end up raised, $ 4.5 would be our first support line which means that buyers can buy on dives in shorter times with the first goals at the highs of September 5 at $ 7.
However, if this is not the case and today it should be bearish, we suggest to negotiate in line with previous EOS projections, waiting for sellers to drop prices below the second and main level of support a $ 4. In this case, the objectives will be $ 1.5
Litecoin price analysis (LTC)
From the news
Another update of the Litecoin core was released. The 0.16.2 version of Litecoin Core is now available and some additions and deletions have been made with it. The developers have removed the blockmaxize option instead of introducing the blockmaxweight option that allows miners to limit the weight of their blocks. Plans are underway to introduce privacy features with many preferring reserved zk-Snarks transactions. As demonstrated in other networks, the CT solve the problem of fungibility and privacy.
– Litecoin.Com (@LitecoinDotCom) 8 September 2018
All things constant, our Stellar Lumens business plan remains constant. From the daily chart we can see that not only sellers are in charge following this violation below the minor and wedge support line at about 22 cents, but the sales pressure is sustained after the sharp allusions of strong sellers.
However, we maintain a neutral bearish footer aware that our sales operations are live, but any push below the support zone from 18 cents to 20 cents would trigger the next wave of sellers pointing to 8 cents. On the back of the equation, if the Stellar Lumens bulls gather enough momentum over 25 cents, then our courts would be null. In this case, the short-term bullish targets would be 30 cents and later 50 cents.
Tron price analysis (TRX)
TRX candlestick formations printed a double bottom after yesterday's bullish candelabra confirmed supports at 2 cents on August 14th.
For this reason, we will keep ourselves away from trading but if there is a close below this level then we suggest negotiating with the bearish candelabra last week.
On the other hand, any confirmation of yesterday's bulls and traders should come out of their previous shorts while at the same time small positions of TRX with stops at 2 cents and prime targets over September 5 Bears at 2.5 cents, 3 cents and later 4 cents.
Cardano (ADA) Price Analysis
From the News
It is yet to be proved, but it is said that Cardano intends to launch several ADA ATMs in Japan. History has it that Japan is hot to cryptocurrencies, but faced with hacks and scams, the country's FCA is strict and trades veterinarians before issuing operational licenses. If Cardano gets the green light, ADA could find direct support and perhaps recover over 12 cents
Vendors continue to run supreme . From our previous ADA analysis, our business plan is valid and although we recommend selling at every level, prices approaching 7 cents mark an important level of support in our ADA business plan.
We expect ADA to react at this level and since yesterday it was a doji, prices could end up higher or violate the ADA ATL that prints new ATLs in the process. It is simply uncertain and that is why taking a neutral approach is important. However, any move higher than 9 cents could probably attract buyers with a target of 12 cents.
Disclaimer : This is not an investment advice and opinions represent that of the author. Do your research before making an investment decision.