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The altcoin market is in recovery mode and after more than two months of persistent sales, their momentum is fading. Although there are still solid confirmations, price prices increase the morale of coins such as EOS, Tron, IOTA and even Litecoin which were heading downwards. The action of next week's prices would influence the short-term price trajectory of most of the altcoins in question.
Let's take a look at these graphs:
EOS Technical Analysis
EOS Daily Chart by Trading View [19659006] First of all, before making a commercial decision, note that 39; EOS price action is falling. Going forward we will maintain this position regardless of yesterday's completion of a three-bar inversion model, the morning star that forms around our first support line for $ 4.
Too much, we will keep yesterday's EOS trading plan and the best way in which EOS buyers can confirm the recent rebirth is if there are gains above $ 6, August 8 maximum and our intermittent resistance.
Once prices print above that level, we suggest short-lived and low-end longs with immediate targets of $ 7 and later $ 9, the upper limit of the previous 30-day consolidation line. In the meantime, however, aggression may take a long time with arrests at the August 4th lows to $ 4
Litecoin Technical Analysis (LTC)
Litecoin Daily Trading Chart View
Yesterday Trade establishes the points for a currency that supports our first bear goal and main support line at $ 50.
From the chart, LTC has increased by 6% and with that anomalous overvoltage, we have a clear inversion scheme of three bars with buyers aiming to close and close above our first resistance level at $ 65.
Although there are open positions to take longs as the chart shows thanks to the bullish candlestick of yesterday, conservatives can always be patient and wait for our business conditions to be met.
In the case of spot price purchases, the stops should be at yesterday's low at $ 53 with the first targets at $ 65 and $ 70.
Stellar Lumens (XLM) Technical Analysis
Like EOS and most coins, the prices of stellar lumens are trying to break out of that eight-day consolidation along 22 cents.
If nothing else, yesterday's gains show a shift in momentum supported mostly by positive fundamentals around XLM, so our trading conditions could be met today or in the coming days, provided that buyers increase their momentum
As highlighted in the previous Stellar Lumens analysis, you what we need to be valid for XLM is strong pushes and closes above 26 cents and after 30 cents before we start loading the long ones. Before then, we will be neutral with a downward trend
Tron (TRX) Technical analysis
From the news
- So far, Tron is doing well by adding 13% in the last day. There are several specific coin events that may be exuberant prices including the recent listing of BitBox coins and the inclusion of TRX in LINE's investment funds. However, the announcement of the TRX 9 million from the network could be a boost. BitBox is also taking this initiative and on a first come, first served basis, the first 2000 people registered with the exchange will receive 2000 TRX from Tron. In addition, those who invest more than 50,000 TRXs on the exchange will earn a 2% interest until August 22nd.
Technical Analysis
Tron Daily Chart of Trading View
At this time frame, TRX is growing and in addition to earning a whopping 13%, yesterday's trading plan is now empty.
However, in the midst of all this, we notice that the sellers are still in charge and fairly reasonable, a two-month bear the tendency can not be invalidated in about two days.
While we recognize that TRX could be at the bottom, taking small long positions with arrests at the lows of August 17 at 1.9 cents with the first targets anywhere between 2.5 cents and 3 cents is the ideal. [19659003] IOTA (IOT) Technical Analysis
Daily IOTA Graph for Trading View
At current spot prices, IOTA increased by 15% on the last day and clearly prints in the daily chart is a three-bar inversion model of the bull around our first 30 cents targets.
But as the sentiment changes upwards, traders should take a cautious stance to avoid fading the market by taking longs into a steep bear market.
By way of confirmation, today's price action could lose light and perhaps influence our business decision because any closing above 55 cents or 13 August means we will have to take our sales profits and start small long with stops at the lows of August 17 to 45 cents.
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.
