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Even in the face of bullish expectations, the bullish momentum of altcoin is fading and the market has fallen by around five percent compared to recent highs. Like their quick gains, IOTA and Tron are leading the charge losing eight percent in the last 24 hours while others like Litecoin will probably repeat the main support at $ 50. In any case, today it will most likely determine the next line. 39; action as expected.
Let's take a look at these graphs:
EOS Technical Analysis
EOS Daily Chart by Trading View [19659006] After periods of higher highs acceptable, the EOS price is finding resistance close to $ 7. Although there have been expectations of further disadvantages, yesterday's damping effect did not do much service at the price that is currently down eight percent in the last 24 hours.
Needless to say, yesterday's EOS trading strategy remained valid after the augmented August 27th and closed above the highs of August 17th by activating our long range intra-ranges with a target of $ 7.5. So how it is, any bending below $ 4.5 effectively invalidates this business plan.
Therefore, bearing in mind the effect of yesterday's bull's dampening effect, we suggest adopting a neutral approach. Any subsequent additions to the August 27 earnings with closures above $ 7 will trigger the next wave of purchases.
Litecoin Technical Analysis (LTC)
From the news
- Traders whose exchanges support TradeIt can now buy Litecoin and three other currencies directly from Yahoo Finance. Declaring this as a path to mass adoption, Charlie Lee is optimistic about this new found support and so also to fans. TradeIt is supported by CoinBase and Robinhood, which means that you can easily link to your brokerage accounts via the Yahoo Finance API.
Investors can now trade on Yahoo Finance https://t.co/AyalsKEUgD of @Katie_Roof
– TechCrunch (@TechCrunch) 26 September 2017
Technical Analysis
Litecoin Daily Trading View Chart
A three percent clip and a sale of candelabra bears bad bears are back to judge by yesterday's events. From the previous technical analysis of Litecoin, our long positions remain valid until the sellers do not exceed $ 55, the immediate levels of support and stop.
A little too much, and assuming prices find support and today there is a rejection of the lower lows, current prices could all present an opportunity for aggressive traders to add to their long lines [19659002] On the other hand, conservatives should expect strong gains above $ 65 and $ 70, our resistance zone before facing long periods of decline.
Stellar Lumens (XLM) Technical Analysis
Stellar Lumens Daily Chart (XLM) for Trading View
Like the rest of the market, Stellar Lumens is returning to consolidation with the capping at 25 cents on the bullish side and the monthly downtrend line trend
Trading in a narrow trading range, about 4 cents in the last month, means that Stellar Lumens prices are locked in a modality of interval and in the process valid to our previous forecasts on XLM prices.
In any case and according to our commercial emphasis, what we need is a break below our support trend line and 18 cents down for sales activation and 25 cents upward for long trading.
Each output should be accompanied by high volumes of trade that exceed recent averages.
Tron (TRX) Technical analysis
From the news
- Operators can now exchange and exchange their TRX on Swaplab. Adding TRX means that the platform now supports more than 45 different cryptocurrencies. Apart from this, as they plan to add Visa and MasterCard by the end of the year, the platform would have an exponential exposure due to that fiat-crypto capability.
$ TRX is now listed on @swaplab_cc . You can buy #TRON with bitcoin and 50+ altcoin. Visa / Mastercard purchases will arrive in October #TRX @Tronfoundation @justinsuntron #TronSociety #Tronics @Vaughn_Tron @drewawise @TRX_News [19659038] #swaplabcc pic.twitter.com/O8Wdftv9SR
– SWAPLAB.CC (@swaplab_cc) 29 August 2018
- The Tron Foundation plans to create another separate native token for BitTorrent [19659040] Technical analysis
Tron daily chart according to Trading View
The hype surrounding the launch of TVM could not help to stimulate TRX bulls. At current prices, TRX is more likely to head down by completing a technical model – the new test put into motion by August 3 breaks below 3 cents.
Because of this possibility of price revulsion, I suggest that we remain neutral today and should now end up falling, so we can start raising shorts from tomorrow with targets to the 24th January lows in line with our latest TRX business plans. .
IOTA (IOT) Technical Analysis
Daily IOTA Graph for Trading View
An eight percent clip of IOTA buy momentum means the bulls have not stopped and they are closed above the highs of 27 August. Regardless of this, our commercial position remains unchanged.
However, if we were to see a fall below the highs of 17 August at 55 cents today, we will recommend abandoning our long lines if there were no arrests and shorts.
The reasons for this are simple, refusing higher highs, the second phase of a breakout model, the test would be complete. Therefore, as sellers unite around the previous support-hour resistance, traders should synchronize with bears in the early stages of a potential upturn in the trend. If it comes out of this projection, the stops should be at 83 cents with the first targets at 30 cents.
Disclaimer : This is not an investment advice and the views represent that of the author. Do your research before making an investment decision.
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