Despite a moral recovery of altcoin, most still have to print over minor resistance levels – Litecoin, IOTA while others are still late – EOS and bearish. As established in previous business plans, we will only start positions, as in Cardano (ADA / USD), as they have bull support, a large volume of trade, once our trading conditions are true.
Let's take a look at these graphs:
EOS price analysis
Understandably, the 10 percent increase yesterday could be a source of excitement. It should be. But, a look at the charts indicates other things: EOS / USD is technically bearish. We project that, rather than a strong recovery above our main resistance line at $ 4, EOS could consolidate within a narrow range of $ 1 before expanding to $ 4.
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Although this is only a theory, we recommend patience and until after there are solid moves above $ 4, just in line with our latest EOS / USD business plan, we will take a neutral position and see how this shifting sentiment could accelerate recoveries. invalidating our bearish outlook and lighting up a new wave of longs drives the price at $ 5 or higher.
Litecoin price analysis
Like the rest of the market, Litecoin is finding support but not strong gains to ensure an immediate shift in momentum. As for price action, LTC rises to $ 2 from our main support line at $ 33. That's $ 7 from where our bull trigger at $ 40.
Therefore, before recommending long ones, we should be aware of the fact that bears have control. Furthermore, LTC is deeply rooted in a correction that, even in the presence of a rebound, the best bulls could push prices towards $ 70, our main resistance level.
Because of all these "obstacles", it is best if there are confirmations that drive prices above $ 40 or November 19th. Next, we can start purchases with targets at $ 70 and stop at around $ 35. If there are no bulls confirmations and cave prices closing at under $ 30, then we will have to trade according to our latest LTC price analysis / USD.
Price analysis of stellar luminaires
From the chart, XLM / USD returned to consolidation after gaining 17 percent yesterday, reducing weekly losses to 15 percent. Although this is extremely positive, note that this resurgence is at the end of thin volumes, as the volumes on 28 November were below the average – 3.9 million against 9.3 million – which means that the level of participation it is still low.
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Now, for security, we have to see a convincing follow-up and that means a strong bull bar complete with above-average volumes that vanish the last two bears. Even with this, we will not suggest making purchases until the XLM bulls push prices above 20 cents. From there, aggressive traders should buy on calls with the first targets at 25 cents and after 30 cents with arrests at 15 cents.
Price analysis of Cardano
ADA returns to the top 10 after adding 15% on the last day. From our latest Cardano price analysis, we expect to see the pullbacks at around 6 cents before the bears get even higher if the wake-up participation is low.
Starting with the rankings, we have a morning star pattern with higher than average volumes that drive yesterday's prices, which means aggressive operators should ride with the new momentum found on every dive. Ideal stops should be the 25 lows of 3.3 cents and the first targets at 6 cents.
IOTA price analysis
The fact is that there are many cases of use on the internet of things and this could drive the IOT application. At spot prices it has increased by 15% and 13th in the liquidity table, although the foundation signed a memorandum of understanding with a Taiwanese university and Tangle could end up being used by an Iberian startup – which wants to manage an asset management business of $ 65.7 Katherine.
On the chart, the IOT / USD found support from 30 cents and today could rise higher by confirming a three-bar inversion model and turning on short-term purchases with 50-cents targets once bulls are printed above 24 peaks of 33 cents.
Ideally, what we want to see is the price increase accompanied by volume peaks that drive prices above the less resistant trend line. Once printed, we will suggest buying on dives with the first goals at 50 cents and later at 90 cents.
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.