Litecoin prices ready to rebound after 11 months of bleeding · Cryptosumer

[ad_2][ad_1]

After 11 months of lower lows, the prices of Litecoin, Monero, Stellar Lumens and Cardano are ready for recovery, mainly thanks to the stability of last week's prices and general market expectations. Regardless of this, we will maintain a bearish position despite the inflow of support fundamentals changing this position once there will be gains above the key resistance levels.

Let's take a look at these graphs:

EOS price analysis

Days after Dan Larimer, Block One's CTO, EOSIO blockchain publishers, announced his plans to explore, EOS was under pressure. So far, EOS / USD has dropped 10 percent in the last week, slipping to sixth thanks in the market cap rankings.

To read: November was the worst month of Bitcoin for seven years

Starting with agreements with candles, we expect further losses this week more if there are no signs of recovery towards $ 4 or highs of November 28 to $ 3.5. Everything else is constant and assuming that the bears increase, the best bulls are able to collect a response of $ 3.5.

But if there are strong gains with volume peaks that are based on the December 1 rejection of lower lows pushing prices above $ 3.5 and confirming the gains on November 28th, then short-term bulls can charge with the first target at $ 4, $ 5 and then $ 7 with stops at 27 November low at $ 3.

Litecoin price analysis

Lightning Network, the scalability solution out of the chain that allows micro payment, now has a new update: Lightning Network Daemon (LND) 0.5.1 Beta. In addition to improving robustness, speed and reliability, updates have been made on the Neutrino back-end.

Analysis of LTC / USD prices

This version was well received and LTC / USD is currently trading above $ 30 and up 15 percent in the last week. Even if we maintain a bearish outlook on this pair, the increase in the use of the network could attract a demand that in turn could support and even push prices above $ 35 to trigger risk-off buyers who bet at $ 40 and over $ 50.

This could happen today thanks to the additions of December 1 and yesterday's trade restrictions. The assembly stops would be around $ 33 and are geared constantly as in our latest LTC / USD business plan.

Price analysis of stellar luminaires

Price analysis XLM / USD

In part due to airdrop blockchain.com for $ 125 million, the number of active XLM accounts increased by 1000% after the expansion from 162k to 2 million as the data show. However, the use is still quite low.

Nonetheless, there is a suspension for investors. XLM / USD has returned to the first four places to replace BCH and although XLM is moving within a narrow range of trade, it is encouraging to exchange by November 28 with a high minimum and over 15 cents.

Read also: Galaxy Digital loses 76 million dollars in the third quarter, Novogratz remains bullish

If today they finish higher, closing above 17 cents or highs on November 28, the first wave of buyers can start loading the pullbacks with the first targets as 25 cents and later 30 cents. Conversely, declines below November 27 at 13 cents could confirm the bear's rupture on November 26, and in that case XLM / USD could print 8 cents of discount within the year of end.

Price analysis of Cardano

Analysis of ADA / USD prices

ADA / USD rose seven percent in the last week and with the slowdown in the upswing, it could open up allowing prices to expand towards the 6 cents breaking level. It is because of this likelihood and the clear rejection of the lower lows, even after the high-volume bleeding of November 24th, that we expect the ADA / USD to increase during this week.

Although losses lower than last week's lows of 3.3 cents could trigger panic sales, earnings above 5 cents will instill confidence by allowing Cardano's prices to retest 6 cents and even 9.5 cents during the month.

With this preview in mind, our downside perspective is valid as long as ADA / USD is trading below 5 cents. We will only recommend small purchases once there are visible gains of more than 5 cents with the first targets at 6 cents, 7 cents and later 9.5 cents depending on the strength of the underlying buyers.

Monero price analysis

XMR / USD price analysis

Like the rest of the altcoin market, Monero is benefiting from this new optimism. After 11 months of losses, it is likely that we will see the emergence of bulls Monero. It is already showing thanks to last week's refusal of low lows and the general stability of XMR prices.

However, before traders start buying, there must be solid gains above $ 70 starting the first reversal step set in motion from November 14, below $ 100. Otherwise, prices will fall below the reversal of the double-bar bull on November 26-27 to $ 50, so prices could test $ 30 within the year of end.

All graphics courtesy of Trading View

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.

[ad_2]Source link