The Bitcoin-altcoin couple is the reason why altcoins resurgence depends on Bitcoin price ticks. At the moment it is a bitcoin winter and altcoins are struggling. TRX / USD and EOS / USD prices are trending below key support levels despite Ledger Nano S providing support for EOS dApps.
Let's have a look at these charts:
EOS / USD Price Analysis
Despite the biting market conditions, you can now use your Ledger to interact with EOS dApps. Nonetheless, some functions as Chintai or removing orders from DEXs are not available. Ledger will soon release a firmware to fix this. To explore EOS dApps, you have to update the Ledger and the EOS software before activating "arbitrating data" under settings. Thereafter you can import your Ledger into Scatter and you are good to go.
Price wise EOS is perched at the end of the day. Nevertheless, our previous EOS / USD trade plan is valid. As long as EOS is trading below $ 4, investors can unpack EOS at spot for and wait for prices to pull backs. High quality at prices $ 20
LTC / USD Price Analysis
It's all red for Litecoin and like before, sellers are in charge. However, at spot prices and factoring in volumes and odds, LTC prices would bounce back towards $ 40 or Nov 20 highs. Because of this, we recommend that you stay away from unloading.
Read: Top Tech Stocks Lost More Entire Market Crypto Since All-Time High
If you are an investor, you may be able to execute a shot at $ 30- $ 50 and start at $ 30, $ 20 or even $ 15. However, high volume surges clearing $ 50 would invalidate this bear projection as it would trigger the next wave of buy activity thrusting prices towards $ 55- $ 60.
XLM / USD Price Analysis
As long as XLM / USD it is moving inside this 15 cents, our previous XLM / USD trade plan is valid. November 19-15 high volume losses that reversed Nov 14-15 bulls.
We are optimistic about the recovery of the price and the price of the stock market. Instead, prices could sink towards 8 cents.
TRX / USD Price Analysis
This week did not change TRX and even with Justin Sun shills and superior transactions, TRX / USD is down 28 percent. TRUE is still $ 250 million away from replacing Monero in tenth though the cap could widen if there are drops confirming the bear breakout below Aug lows at 1.5 cents.
Also Read: Gigantic Opportunities: Blockchain Capital Partner Touts Crypto Bullishness
From our previous TRX / USD price analysis, bears are definitely in control. High quality at 1.6 cents and targets at Jan 24 lows.
IOT / USD Price Analysis
Technically IOT / USD is bearish and one of the top losers this week. IOTA is down 26 percent in the last week, and we expect to follow through today. For our bull projection to be valid, we need to see strong surges above 50 cents and the main resistance trend line.
However, investors should dump their longs and fade the trend with targets at 30 cents and later 20 cents.
All Charts Courtesy of Trading View
Disclaimer: Views and opinions are those of the author and are not investment advice. Trading for any form involves risk and so do your due diligence before making a trading decision.