At the end of over 80 drops, the altcoin market is triggering for higher highs. From a new Tron portfolio to impressive developments in the IOTA, the bulls have a chance. Because of this and technical support developments, we recommend buying TRX and Litecoin at spot prices.
Let's take a look at these graphs:
EOS price analysis
Binance, where most EOS transactions are executed, is now the largest encrypted exchange in the world. The Chinese exchange records daily transaction volumes of around $ 780 million according to statistics. This figure will increase dramatically once the exchange opens new offices in Africa, Jersey and Malta, completing other exchanges distributed in 10 countries. In Binance, the USDT / EOS flow is $ 66.5 million in the last day, eclipsing ETH's $ 41 million.
From a price point of view, EOS prices are consolidating, fluctuating within a narrow trading range of $ 1.2 with strong resistance to the highs of 22 September. The minor support is at minimum $ 5 or 25 September. Therefore, considering the candle alignment and the reference market, our previous EOS price analysis is valid.
As before, it makes no sense to buy at $ 6.2 since it is only 8 cents away from the main resistance line at $ 7. This is reasonable from a risk-return point of view.
However, any rally above $ 7 will trigger buyers willing to charge on dives with the first targets at $ 9 and after $ 15. The downside, lower support at $ 5 acts as a sales trigger that would see dumping of EOS for $ 4 or $ 15 in sync with our latest EOS predictions.
Litecoin price analysis
It is only 305 days before Litecoin miners receive half a reward. So far, 69.74 percent of the currencies are in circulation with 25,413,125 LTC available for distribution. With the generation every 2.5 minutes, the miners extract 14,400 LTC each day. The current network hash rate is 307TH / s.
Although Litecoin's prices are relatively stable on the last day, candle alignment has positive signs. Apart from the losses of the last three days, LTC is still trading on the 27 September bar and today we could see the reversals at $ 70.
In lower time periods, there is refusal of lower bass on the back of large volumes. As such, we recommend an aggressive type of trader to charge at spot rates with a stop at $ 55-as before. Therefore, in line with our previous Litecoin business plan, the appropriate trigger buy lines amount to $ 70.
Price analysis of stellar luminaires
Our last highlight on the importance of the 23 September bar. Although there is an accumulation with prices moving inside a descending wedge with a light resistance at 30 cents and supports at 23 cents, the bulls of Stellar Lumens will benefit considering yesterday's refusal of lower lows.
Like yesterday, we recommend patience once we recommend purchases if there is a continuation of yesterday's bullish attempts that push prices to exceed 25 cents. Next, we will recommend to aggressive traders to buy spot-ons with a stop at the September 23 low at 22 cents and first targets at 30 cents and later at 50 cents.
It will be only after the Stellar Lumens bulls have generated enough momentum to reduce prices above 30 cents, risk-averse traders will skip the load on declines while synchronizing with the general momentum. As for security, drops below 22 cents cancel this bullish forecast.
Price analysis of Tron
– TRON Foundation (@Tronfoundation) October 2, 2018
The company behind the new Tron wallet, Getty.io has done a great job improving the overall user experience. In addition to allowing multiple portfolios to be created, users can lock, unlock and vote for Super Representatives, invest in Tron ICO projects and enjoy superior security through the incorporation of Face ID and fingerprint reader.
After 15 days of horizontal accumulation in the bar on 21 September, TRX prices are ready for the rally thanks to yesterday's bulls that complete the one of 27 September. Perched at position 13 in the liquidity list, TRX rose 6% in the last day and is the best performer.
Going forward, we recommend buying at spot prices with stops at 2 cents. The first targets will be 3 cents and 4 cents in sync with our latest Tron price analysis. After all, this bullish stand synchronizes well with the week ending September 23, which was accompanied by a strong increase in volume that marks the bottom of the market.
IOTA price analysis
Even with the announcement of the Delion API, the complete integration with BitPanda and the confirmation of the superfast transaction, the IOTA volatility is low if not sad. In the daily chart we note that IOTA prices are going inside a wedge.
However, when prices are close to the top, a break is likely to occur. In combination with a deep retracement and solid fundamentals, we remain positive on IOTA. But before making calls, IOTA buyers must first generate volumes and enough drive to push prices to 65 cents.
Subsequently, the IOTA bulls can load on dives with the first targets at 90 cents. On the other hand, any violation of 50 cents will reduce the control of the sellers and we could see the losses return to the lows of August to 40 cents.
All graphic images courtesy of Trading View
disavowal: This is not an investment advice and opinions represent that of the author. Do your research before making an investment decision.