Go back to the red with the altcoins losing on average five percent on the last day. Litecoin and Stellar Lumens are the best losers who lose five percent. Factoring according to the candle, bears are likely to drive prices towards the previous support lines in the coming days. For this reason, we recommend selling Monero at spot prices in sync with the bears on September 5th with stops at $ 120.
Let's take a look at these graphs:
EOS price analysis
Aside from the Huobi collusion allegations that we highlighted earlier, there is nothing moved by the market. In fact, the EOS price has dropped three percent in the last day. What is visible, however, are the persistent sellers that prevent the rises and the price limit from the main Fibonacci retracement levels.
When we paste a Fibonacci retracement tool between the September bear's candle, it is clear that EOS prices are reversing from the 78.6% level. Historically, rebounds from this level rarely repeat the test of previous lows or highs. Instead, the 23.6% level tends to be retested. Bringing the same deduction to EOS, we can conclude that the bears could find support for $ 5.
This is 50 percent of the Fibonacci level of the week ending September 23rd. In both cases, considering the depth of the EOS price correction and the increase in adoption, buyers have a chance.
However, as in our latest analysis of EOS prices, this will only happen when there will be gains above $ 7. Otherwise, we repeat that losses below $ 4 open the flood gates for sellers who aim for $ 1.5. .
Litecoin price analysis
The immutability and resistance to censorship are some of the properties that make Litecoin and cryptocurrencies superior to fiat. These comments were made by Charlie Lee at Blockchain Cruise 2018.
I just bought an Amazon gift card using LN on Litecoin. The payment went immediately and I immediately received the gift card. Good work on the excellent user experience @bitrefill! 👏 #PayWithLitecoin #PayWithLightninghttps://t.co/dJYLksVVCD
– Charlie Lee [LTC⚡] (@SatoshiLite) 3 October 2018
Furthermore, with the adoption, the scrambled are cutting their quota. In a tweet, Charlie Lee said he could buy the Amazon gift card and the vouchers (from Bitrefill) via the Lightning network. Bitrefill is a mobile application that allows Litecoin and four other crypt holders to buy gift cards.
In the rankings and prices of Litecoin they fell five percent in the last day. With this, the sellers have succeeded in reversing the earnings of 27 September. From yesterday's Litecoin exchange plan, we said that prices would be gathered, so it was necessary for the bulls to exceed $ 70.
These strong declines are likely to stop at $ 55, invalidating our bullish position. There should be a following today and prices fall to $ 50, so the odds are that sellers end up over $ 50. This level is an important support and a sales trigger that, if commercial conditions are met, will see LTC trading at $ 30 or less.
Price analysis of stellar luminaires
XLM is the biggest loser on the last day to lose five percent. Like the sellers of Litecoin, the Stellar Lumens bears are trampling on the gas. They are only 2 cents from the minor support line at 23 cents. This level could be hit today if today's operators keep up yesterday. Even if we remain optimistic about the disadvantages, the selling pressure is overwhelming for the buyers of Stellar Lumens.
If the prices of XLM fall below 23 points, we will have to return to the neutral position. In that case, we will place the purchase triggers at the highs of September 23 at 30 cents, a conservative purchase trigger. Likewise, drops of less than 18 cents of main support and lows at 2018 could decrease decreases to 8 cents.
Price analysis of Cardano
Project Rust is now available. With the launch of this open source developer toolbox, Cardano expects developers to connect by creating high quality projects on the platform. Rust is a simple programming language that is compiled with common development platforms such as iOS, Web and others.
Low volatility and persistent sellers characterized yesterday's price action. Too, it seems that the sellers are having an advantage by preventing gains in excess of 9.5 cents and the two-month resistance trend line. Note that our sales triggers remain at 7 cents, the lows of all coins in the coin. And the confirmation of yesterday's losses could bring Cardano's previous commercial plans. However, we maintain a bullish position and for the first wave of purchases, prices must close above 9.5 cents. Buyers will have control when there will be strong earnings above 12 cents.
Monero price analysis
After about 45 days of constant upward trend, the Monero bears are back. Apparently, prices are now in sync with the bears bearer on September 5 and what we have is a break below the main trend line of support after yesterday's three percent loss.
Going forward, we recommend shortening it to spot price now that there is a whole bear bar below the main trend. Ideal stops will be at $ 120 with first goals at $ 100 and after $ 70.
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.