Because crossovers drag a lower synchronization with the fall of Bitcoin (BTC), the fundamentals and technical formations are clearly divergent. Yes, the sellers are in charge and are even erasing the latest Stellar Lumens (XLM) trustful attempts in mid-July. However, while we still have to see an appropriate sales signal under the key support lines in Litecoin (LTC), EOS and IOTA for example, we have a downward trend due to the resumption of last week's trend and that strong bearish bearish week candle ending on August 5
Let's take a look at these graphs:
EOS Technical Analysis
From the News
- You can now withdraw EOS from Binance
Even with attempts at higher highs on 5 August the sellers were too overwhelming and yesterday they ended up with a long upper wick that indicated a strong bear pressure .
The way prices are aligned means that our short films are valid and our overall business plan Litecoin (LTC) is well advanced. All we need is a convincing break below $ 70, the lower limit of our 40-day range and perhaps a full candle holder that closes under that support line.
Thereafter, we will be in line with the trend defined by June 10 bears and points to $ 50 in the short term
Stellar Lumens (XLM) Technical Analysis
By sliding two percent in the last 24 hours, the Stellar Lumens (XLM) sellers approach the limit of our previous buy-trigger, now they support 22 cents. So, as expected from our XLM business plans, we expect XLM to find support with buyers who jump in.
However, if this does not happen and sellers fall below it and 20 cents would confirm the strong downtrend the weekly chart, then we will have to short and synchronize with the general trend in the weeklies.
After all, any closing below 20 cents could push XLM prices towards the lows of 2018 and if bears are consistent, sellers should aim for 15 cents and later 8 cents. The downside, for the buyers of Stellar Lumens (XLM) to reinvent themselves, the first attempt should be to reverse the losses of August 4 with very high trading volumes showing participation.
Tron (TRX) Technical Analysis
With the increase of Tron's sellers (TRX), our first objectives at 2 5 cents will probably be discovered within this week.
Remember, week by week, TRX fell two percent in the last day and when we check the weekly chart, the odds are that we could see a confirmation of that bearish engulfing pattern that has broken under the attempts of highs higher than July.
In any case, my recommendation is to sell TRX at any height with an ideal sales area between 3 cents and 3.5 cents with arrests at 4 cents and prime targets at 2.5 cents and later 2 cents.
IOTA (IOT) Technical Analysis
as expe The news of the IOTA Hub is not only monumental from the point of development, but also states that the IOTA rating is moving forward
This is partly why we saw a sudden injection of buying volumes with IOTA that temporarily gains 20% before shrinking at normal levels along 90 cents as market participants interpret the meaning.
However, we remain bearish and the only time this vision will be canceled is when we see IOTA buyers pushing over $ 1.
Meanwhile , the probability of lower lows is high, and once we see a strong close below 9 0 cents, we will prepare to reduce the shots with the first targets to 65 cents.
Disclaimer: The views 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.