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Apart from Litecoin, most of the coins under our preview are traded below important levels of support. After falling below 15 cents, we expect the prices of stellar Lumens to fall to 8 cents, while Cardan losses could see ADA print the lows of 2018.
Let's take a look at these graphs:
EOS price analysis
Without a doubt, losses are high in the EOS / USD pair. It even got worse from centralization claims, from the launch of the Dan Larimer project and the obvious corruption of block makers.
At spot prices, EOS fell by 11% in the last day, pushing the weekly losses to 39%, but it could get worse for the currency, especially if we take a top-down approach taking into consideration the alignment of the candles in higher periods of time.
To read: Study: Pump and Dump patterns have negligible effects on cryptographic markets
Considering that EOS / USD is trading within a breakout model confirmed thanks to losses of less than $ 4 per week ending on November 25, it appears as if bears would fall below $ 1.5 and print $ 0.5 by January if this erosion rate is maintained.
As in our latest EOS / USD business plan, we expect a recovery, but every high should technically be a sales opportunity unless there are gains above $ 3.5 in the wake of strong volumes that reverse losses yesterday and this week.
Litecoin price analysis
According to the design, Litecoin is the silver of BTC and, despite the selloff, it is possible to buy material from 241 different dealers. You can indeed buy the new HTC Exodus. The blockchain-based gadget is sold for 19.84 LTC.
As announced a @SlushHQ today, now you can buy the @htcexodus encrypted phone with Litecoin. It costs a fixed amount of 19.84 LTC. #PayWithLitecoin #Big Brother #Bitcoin 😀 pic.twitter.com/jqViS3gjPc
– Charlie Lee [LTC⚡] (@SatoshiLite) 6 December 2018
However, LTC / USD is fighting bears, but unlike degradation in other pairs, prices are stable and horizontally consolidated.
LTC is down four percent in the last day but unless there are earnings above $ 35 we will maintain a bearish outlook that expects sales in mid-November to continue if sellers violate the November 2018 lows at around $ 25 .
Remember, as per our iterations, this merger will cause a wave of sales pressure and LTC could break below $ 20 and even test $ 3 within the year of end.
Price analysis of stellar luminaires
BitGo is the first multisig portfolio and custody service provider to offer support for Lumens. The declaration of intent of the company is to provide confidence in the digital currency and define itself as "The leader in security, compliance and custody solutions based on blockchain". This approval is a great thing for XLM as it will be more attractive to institutional investors who want to channel their funds into space without risking losses.
Read also: Kik starts the implementation of Crypto Ecosystem with Kin Tipping Feature
Returning to the chart and XLM is still in fourth place, but with $ 400 million separating it from the USD, a "flip" is unavoidable if yesterday's losses come up to date.
And sellers are likely to press the gas pedal today that we have a clear closing under the lows of November 2018.
As a result, we expect the XLM / USD to fall further to 8 cents in a clear breakout pattern after nine moments of horizontal consolidation within a 15-cent trading range.
Monero price analysis
Clearly, XMR is on a slide and after a clear breakout below $ 70, the sellers undoubtedly have control and watch $ 30 thanks to the continuing losses of the last two days.
Going forward, we will maintain a bearish outlook and expect the XMR / USD to repeat $ 30 or less if the bears keep the pace of this reduction.
Price analysis of Cardano
After eight days of lower lows, sellers have finally wiped out the November 28 earnings, decidedly bullish expectations that fall towards the end of November 2018.
In addition, ADA prices are trading below November lows at 3.3 cents, which means our latest ADA / USD business plan is valid. In that case, we expect ADA to print further down by dragging its lower market capitalization. For this reason it is likely that ADA falls from the top 10 with Tron returning.
From a price point of view, this sell-off should continue technically unless there are peaks above 4.5 cents that complement the Morning Star model launched by the bulls on 25 November.
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.
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