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Apart from the news of the Stellar Foundation acquiring Chain, a blockchain in San Francisco starts up for a figure that is believed to exceed $ 40 million, the developers of Litecoin are back . This time, they plan to launch a Litecoin web portfolio that will be safe enough to repel attackers. Although positive, these two have not changed the trajectory of the market and instead sellers are dominating new lows at Cardano (ADA).
Let's take a look at these graphs:
EOS Price Analysis
Oscillating between $ 5.5 in the upside and support of $ 4.5, EOS is obviously traded within a very narrow commercial range. Unless there is an influx of buyers raising prices above the highs of $ 5.5 and $ 7 or September 5, we maintain a bearish position as we negotiate in line with yesterday's EOS trading plan.
After all, yesterday's 5% decline did nothing but increase prices based on the sales trend put in place by the September 5 rejection of higher peaks.
Turning to this development, aggressive traders can add to their shorts at spot price while conservative traders can expect a final, high-volume break and close below our main support zone for $ 4. Goals are constant at $ 1.5 as highlighted in yesterday's EOS price analysis.
Litecoin Price Analysis (LTC)
From the news
- Litecoin is developing a web-based portfolio
Technical analysis
percentage in the last day, not only sellers gravitate around $ 50, but with each decline – the recovery phase of the trend that confirms the start of Aug's break pattern becomes solid.
From the preview of yesterday, our recommendation was to take a stand down only by starting sales operations once we see a high volume, bringing the candle that breaks and closes below the minor support line $ 50.
At the moment, taking short-term operators at current prices is not favorable from a risk standpoint. In addition, $ 50 is an important level that marks the lows and the August 2018 prices could react to this level.
Stellar Lumens (XLM) Price Analysis
From the News
- Chain, a blockchain of San Francisco start up, was acquired by Stellar Foundation for an undeclared amount that must be in excess of $ 40 million in cash . According to people familiar with the matter, the deal was finalized on September 5th and the new InterStellar merger will be led by Chain CEO Adam Ludwin with Jed MacCaleb as CTO.
Technical analysis
Compared to recent movements, Stellar Lumens (XLM) is literally flying right. Prices have increased five percent in the last day, but even today they could see further gains.
Even if our previous business plans are true despite yesterday's XLM gains, we recommend getting short positions because yesterday's bullish momentum could come up to date. After all, we now have a nice three-bar inversion print at around the 2018 minimum, which means that the odds of confirmation are quite high. Regardless of this, we will only recommend buying when prices exceed 25 cents.
Cardano price analysis (ADA)
With a gap of 8% in the last 24 hours, Cardano (ADA) has recorded new historical lows. This, according to our latest ADA business plans, means a closure below a critical support line and ADA ATL at 7 cents and a probable trigger for a new wave of sellers that lower prices.
Our commercial recommendation in light of this event is simple and straightforward: to sell at spot rates with stops at around 8 cents. For those who have sold after September 5th, they can cash out some profits and let the trade go on until a firm proof of a printed fund.
Monero (XMR) Price Analysis
The odds are that we could see a break below the minor trend line support at around $ 100 which will eventually see prices towards $ 70, our main support line and the Goal as stated in our latest business plan.
Evidently, like all the coins under our preview, the path of least resistance is south and Monero although the increase in top fundamentals and functionality is cutting by itself losing two percent in the last day. Our opinion is simple, we sell at the spot price with a stop at $ 110 and target $ 70 or less in the coming days.
A more cautious approach will be to start sales once there is a break below $ 100 and support the trend line today. Subsequently, sales should be carried out at all times in the shorter periods of time.
Disclaimer : This is not an investment advice and the views represent that of the author. Do your research before making an investment decision.
The post Litecoin, Stellar Lumens, EOS, Cardano, Monero Price analysis: sellers on overdrive, but the starlight gains could slow down the price erosion first appeared on NewsBTC.
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