The altcoin market is in recovery mode and after over 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
First, before making a commercial decision, note that the action of EOS prices is in a downward trend. 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, the aggressive can take long times with arrests at the August 4th lows to $ 4.
Litecoin Technical Analysis (LTC)
Yesterday's exchanges indicate a currency that is finding support to our first bear goal and main support line at $ 50.
From the chart, LTC has increased by 6% and with such anomalous spike, we have a clear reversal scheme of three bars with buyers who aim to close and close above our first level of resistance at $ 65.
Although there are open positions to take longs as the chart shows thanks to yesterday's bullish candelabra, 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 lows of $ 53 with the first targets at $ 65 and $ 70
Stellar Lumens (XLM) Technical Analysis
Like EOS and most of the coins, Stellar Lumens prices are trying to separate themselves from that eight-day consolidation along 22 cents.
If anything, y The esterday gains are a glimpse of a momentum shift supported primarily by positive fundamentals around XLM. As a result, our trading conditions could be met today or in the coming days, as long as buyers increase their momentum.
As highlighted in the previous Stellar Lumens analysis, everything we need to be valid for XLM is strong and close above 26 cents and after 30 cents before we begin to load 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 stock exchange will earn a two percent interest until August 22nd.
In this time frame, the TRX is increasing and in addition to earning a whopping 13%, yesterday's business plan is nil.
However, in the midst of all this, we notice that sellers are still in charge and fairly reasonable, a downtrend of two months can not be invalidated in 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.
IOTA (IOT) Technical Analysis
At current spot prices, IOTA is 15% in the last day and the clearly printed in the daily chart is a model of inversion of three bars around our first 30 objectives cents.
But as the sentiment shifts higher, traders should take a cautious stance to avoid fading taki's market
For confirmation, today's price action could shed light and perhaps influence our business decision because Any close above 55 cents or 13th August means that we will have to take our sales profits and start small long with stops at August 17 low at 45 cents.
Disclaimer: The opinions and opinions expressed are those of the author and do not constitute an investment advice. Trading any form involves risks, as well as your due diligence before making a commercial decision.
Post Litecoin, EOS, Stellar Lumens, Tron, IOTA Technical analysis: Altcoins Are Back To (Temporary) Green first appeared on NewsBTC.