Too, the altcoin bulls have control and even if prices are consolidated within the key candlesticks, the week ending September 23, the bulls influence our analysis and our sentiment. In particular, Monero is consolidating and rejecting the lows below $ 100 and EOS that despite the accusations of collusion by Huobi are stable but very far from $ 7. The prices of Litecoin, Cardano and Stellar Lumens are stable and could rise higher this week confirming our bullish position.
EOS price analysis
There is rarely a perfect consent algorithm. In some ways, they all end up with a fundamental flaw or two. The proof of work is safe but the energy is inefficient while DPoS is fast, but allows centralization and, to some extent, collusion or corruption. It depends on how you look at it. A new dossier was issued by a Huobi employee as reported by the Trust nodes claiming to show how Huobi votes for the block producers in exchange for the proceeds. While Huobi is one of the 21 block producers, this corruption has seen them earn $ 6,000 in addition to the $ 10,000 they earn every day for transaction validation. The report reveals how Huobi can even support block shell producers without websites or public nodes. Considering the concentration of ownership of EOS, great players such as exchanges exert a strong power of decentralization.
Technically, we remain bullish on EOS. While prices do not close above the week ending September 23, the inversion from the Fibonacci key retracement level as prices aligned with the bulls is important. After yesterday's 1% gain, it is likely that prices will rise further this week, despite lower consolidation time. All things constant, our latest analysis of EOS prices will remain constant. Until there are strong moves above $ 7, the conservative and risky type of trader will stay on the sidelines. On the other hand, sellers will dominate if sellers will rise and drive EOS below $ 4.
Litecoin price analysis
CoinText, the popular SMS cryptocurrency service that allows users to send crypto via text or a cryptographic address, now supports Litecoin. Vin Armani, the founder of CoinText, said the platform is independent of money and looking for ways to enable people to use cryptocurrency just like they do with cash.
Despite the expanding market, the Litecoin bulls have control. Note that while our initial purchase triggers set at the week ending September 23 at $ 60 were hit after the huge gains of September 27, there was no confirmation of higher highs as prices are consolidated by 27 September. Needless to say, due to the effort over the outcome scenario that follows these gains, the bulls risk pushing prices higher in the coming days. That's why we suggest you buy on recalls. The first goal is at $ 90, the upper limit of consolidation. However, risk trading will be active once prices are higher than $ 70.
Stellar price analysis
StellarX, which describes itself as a "Greenfield for transparent merchant adventurers", is now live. The platform is a complete commercial app for the Stellar market. StellarX is a product of Chain and Interstellar. StellarX is free and even if you charge a negligible XLM 0.00001 to prevent spam, tax rebates take place every week. This is possible because the StellarX consent algorithm does not allow stakeout or testing even if they work.
In seven days, Stellar Lumens prices have moved by September 23rd. Encouragingly, the fact that XLM's prices are over 25 cents is bullish, cementing our last bullish position. From the formation of candelabra, we suggest you buy at spot price. This is in line with the bullish engulfing bar on September 23 supported by high volumes. Furthermore, note that prices are rebounding at the Fibonacci retracement levels of 78.6%. For this reason, our first goals will be 30 cents. Further gains will trigger conservative bulls with a target of 50 cents.
Price analysis of Cardano
The ADA rose by 1% in the last day and continues to fluctuate in the bullish engulfing bar. Thanks to this bar, the bulls of the ADA will probably close above September 23 and 10 cents. This can potentially usher in another wave of buying pressure that points to 12 cents. Ideally, we recommend that risk traders buy at spot rates with a stop at the lows of 27 September at 7.5 cents. According to our latest Cardano price analysis, the first targets will be 12 cents and if there are strong violations above that resistance line, the type of risk traders can buy on dives with the first 20 cents targets.
Monero price analysis
To reiterate, Monero is technically in a rising phase with the main support trend line providing clear support. From the chart, note that sellers have repeatedly retested the trend line of the main support six times. Their inability to close conclusively below $ 100 and the trend line means that the momentum is quite high. So while our last Monero price exchange plan is valid, the bulls will only be liable when prices will exceed $ 120. Before that, we maintain a neutral position. We understand that any bending below $ 100 should invite sellers who are aiming for $ 70 or less.
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.