Although there are attempts at higher highs now that most of the coins still have to break away from the key lines of support and still negotiate inside that strong bullish bullish candle on August 17, the odds are today that sellers could go back and confirm the tendency of the eight-month bear. As seen from the chart, Litecoin, Tron, Stellar and even IOTA have recorded losses with EOS, which recorded a seven percent loss yesterday.
Let's take a look at these graphs:
EOS Technical Analysis
He returned to the red territory for EOS. this depreciation is a seven percent drop in the last day that effectively nullifies last week's attempts at higher highs. "To judge from the chart, our EOS business plan is clear: Sell on all levels going forward now that the Yesterday's price action was limited with sellers who could not exceed the lows of August 20.
Considering the overall layout of the candlestick in the last 20 days or so, our bear explodes the model that went live after the interruption of the volume of August 8th under $ 7, confirming the break of the 2 June 2, under $ 9: the upper limit of our last consolidation is now live.
As such, and according to our iteration in our latest EOS technical analysis, which fades the trend with the purchase is counter intuitive, especially if we highlight the strong trend of the last eight months.
Litecoin (LTC) Technical analysis
From the chart, LTC prices are confined within a range of $ 15 defined by our immediate resistance to Highs of August 17th to $ 65 and lows to $ 50 as marked by the lows of the August 14 pin bar.
While we keep catch-up projection, buyers could accumulate momentum and exceed $ 70 by canceling the sales position.
If not and there is a drop below $ 50, then it is advisable to short-circuit the shots in shorter times with maximum arrests with first goals at $ 30 as expected in our last LTC trading plan.
Stellar Lumens (XLM) Technical Analysis
Of all the coins under our review, Stellar Lumens looks promising. Not only has he recovered and refused to sell pressure when Facebook's launch rumors have started making rounds, but the simple fact is that XLM is stable and is actually one of the best in the last month or so.
For now, sellers of Stellar Lumens have an edge after the six percent drop yesterday and since the general trend is bearish, the odds are that we could see the depreciation further today more after prices fall below our support line of a minor week as shown in the chart.
We should recommend traders to risk selling at all levels in shorter periods of time, with stops above the break lamp and first targets at 15 cents and later at 8 cents. On the flip side, conservatives can take a neutral stance and trade according to our stellar lumen trading plan only by trading once the upward XLM prices exceed 26 cents on the upside and 18 cents on the downside.
Tron (TRX) Technical analysis
From the news
- Justin Sun wants the Venezuelan Petro to go to Tron and not Ethereum
Like most currencies, not only do TRX prices move within narrow ranges, but yesterday's price action has failed to go below or below August 20th.
In this case, our previous Tron (TRX) is solid and goes on, the short-term aggressive traders would be free to start short films only when there is a final high volume below 1.8 cents because it will synchronize with the general trend with the first targets at the lows of January 24.
If not and say that the buyers accumulate enough momentum confirming the August 17 Morning Star bul inversion scheme of the lish and margin over 2.2 cents, so we recommend longs of low-cut with the first targets at 3 cents when the retest phase is completed.
IOTA (IOT) Technical Analysis
If nothing else, yesterday was the fourth day of another consolidation of the lowest time frame within the August 17 at the top low. This not only validates our previous business plans but increases the momentum of a potential break above or below 60 cents or 45 cents.
Although the feeling of altcoins has been brilliant in recent days, it is likely that we could see lower lows and return to the trend more if there is a break below 45 cents today or in the coming days .
It is for this reason that we suggest suspending trade until after there is a solid definition of trend.
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.