Litecoin, EOS, Stellar Lumens, Tron, IOTA Technical Analysis

Though altcoins are finding reprieve following rapid depreciation mid this week, the fact that most are trading at new 2018 lows as IOTA, Litecoin while some as EOS and Stellar Lumens are retesting important support line means the market might add to their losses in coming days/weeks. However, there are potential upsides especially if the SEC comes up with favorable decision on VanEck SolidX Bitcoin ETF–the reason behind recent market fracture.

EOS Technical Analysis

Two days of high volume, high trade range trading days saw EOS prices plummet below our intermittent support and sell trigger line on Aug 7 and 8.

On a weekly basis, that was a 22 percent decline in prices and as expected, confirmation of such events are not usually accompanied by high volumes or trading ranges.

In fact prices tend to retract and slip back into a consolidation with confinement of price within break out high lows. That was nearly the case yesterday as we could see a slowdown. In any case, our EOS trade plan is intact and we recommend selling EOS on pull backs with ideal upper limit of stops at $7.

First targets are 2018 lows at $4 and any depreciation below that could see $3 being tested.

Litecoin (LTC) Technical Analysis

Coin related news are scarce and as traders digest the last two day losses, Litecoin bears are now trading below $70, our main support line.

So, in line with our last Litecoin (LTC) technical analysis, the best approach here is to sell on any pull back retesting $70 with targets as mentioned in our earlier trade plan.

Remember, should LTC find any support, appreciate above $70 and into our previous trade range triggering our stops in the process, we shall revert back to neutral.

As before, the upper limit at $90 is important for our analysis since should bulls thrust above it then the current bear break out pattern guiding sellers would be nullified.

Stellar Lumens (XLM) Technical Analysis

With that down thrust cancelling our Stellar Lumens (XLM) bull projection on Aug 8, odds are we might see XLM trickling down towards 2018 lows in coming days.

Though we expect this to happen after XLM prices taper or even retest 22 cents, risk off traders should find selling opportunities with recoveries towards 22 cents and 25 cents, our sell zone.

On the other hand, conservatives could find better trading opportunities once there is a break below June and 2018 lows anywhere between 18 cents and 20 cents as stated in our past Stellar Lumens (XLM) trading plan.

Either way, ideal XLM bear target is at 15 cents and later 8 cents.

Tron (TRX) Technical Analysis

From the News

  • Crypto Girls, a SR at the Tron network are now part of HummingPay

Technical Analysis

While it’s clear that TRX sellers are running rampage, the fact that the bear breakout pattern that was initiated on June 10 has been confirmed is not at all helpful for bulls.

As a matter of fact, we expect further depreciation and that’s why according to our last TRX trading plan, we suggested locking in some profits and shifting ideal profit targets to Jan 24 lows at$0.000052.

It’s miniscule yes but well, TRX was once valued at that level before Q1-3 rapid gains peaking at 10 cents in Q2 this year.

IOTA (IOT) Technical Analysis

From the News

  • There is a trending post at Reddit on how IOTA’s Curl-P is but a sieve and vulnerable for attacks. I suggest taking a look at it and making your own conclusions—it has been in the IOTA sub-Reddit for sometimes now.

Technical Analysis

Following the likes of Litecoin, XRP and a host of other high liquid altcoins, IOTA is down 30 percent for the week and trading at new 2018 lows.

At current spot rates, we have seen a high volume break below 90 cents confirming that bear break out pattern set rolling on June 12 as IOTA sellers snap back in trend.

Now, considering all these factors—including the general crypto sentiment-we recommend shorting on pull backs with stops at Aug 8 highs at 72 cents and first targets at 32 cents.

Disclaimer: Views and opinions expressed are those of the author and aren’t investment advice. Trading of any form involves risk and so do your due diligence before making a trading decision.

Author: Dalmas Ngetich

Source link

Related posts

17 Thoughts to “Litecoin, EOS, Stellar Lumens, Tron, IOTA Technical Analysis”

  1. minecraft download

    It’s nearly impossible to find educated people about this subject, but you seem like you know what you’re talking
    about! Thanks

  2. how to download minecraft

    Greetings from Carolina! I’m bored at work so I decided to browse your blog on my iphone during lunch break.

    I love the knowledge you present here and can’t wait to take a look when I get home.
    I’m amazed at how quick your blog loaded on my cell phone ..
    I’m not even using WIFI, just 3G .. Anyhow, very good site!

  3. minecraft for free

    Great information. Lucky me I discovered your site
    by accident (stumbleupon). I have saved as a favorite
    for later!

  4. g

    Hello There. I discovered your blog the usage of msn. That is a very well written article.
    I’ll make sure to bookmark it and come back to learn extra of your helpful information.
    Thank you for the post. I will definitely return.

  5. g

    Today, I went to the beachfront with my kids. I found a
    sea shell and gave it to my 4 year old daughter and
    said “You can hear the ocean if you put this to your ear.”
    She placed the shell to her ear and screamed. There was
    a hermit crab inside and it pinched her ear. She never wants
    to go back! LoL I know this is totally off topic but I had to tell someone!

  6. minecraft download mojang

    I’m gone to tell my little brother, that he should also go to see this web site
    on regular basis to obtain updated from most recent reports.

  7. natalielise

    I’ve been surfing online more than 4 hours today,
    yet I never found any interesting article like yours.

    It’s pretty worth enough for me. In my view, if all
    web owners and bloggers made good content as you did, the net will be much
    more useful than ever before. natalielise plenty of fish

  8. plenty of fish

    Why visitors still use to read news papers when in this technological
    globe everything is existing on web?

  9. quest bars cheap

    It’s actually a great and useful piece of info.
    I am satisfied that you simply shared this helpful information with us.
    Please stay us informed like this. Thank you for sharing.

  10. minecraft games

    This post will help the internet viewers for building
    up new webpage or even a blog from start to end.

  11. dumps shop good balance

    … [Trackback]

    […] Find More on that Topic: tradingbtc.com/2018/08/09/litecoin-eos-stellar-lumens-tron-iota-technical-analysis/ […]

  12. sbo

    … [Trackback]

    […] Info to that Topic: tradingbtc.com/2018/08/09/litecoin-eos-stellar-lumens-tron-iota-technical-analysis/ […]

  13. magic mushrooms in chocolate

    … [Trackback]

    […] Information on that Topic: tradingbtc.com/2018/08/09/litecoin-eos-stellar-lumens-tron-iota-technical-analysis/ […]

  14. download

    … [Trackback]

    […] There you can find 52249 additional Information to that Topic: tradingbtc.com/2018/08/09/litecoin-eos-stellar-lumens-tron-iota-technical-analysis/ […]

  15. ruger mark iv threaded barrel

    … [Trackback]

    […] Information on that Topic: tradingbtc.com/2018/08/09/litecoin-eos-stellar-lumens-tron-iota-technical-analysis/ […]

  16. 스포츠토토

    … [Trackback]

    […] Here you can find 42262 additional Information to that Topic: tradingbtc.com/2018/08/09/litecoin-eos-stellar-lumens-tron-iota-technical-analysis/ […]

  17. cornhole game

    … [Trackback]

    […] Information on that Topic: tradingbtc.com/2018/08/09/litecoin-eos-stellar-lumens-tron-iota-technical-analysis/ […]

Leave a Comment