New users are crowding into the litecoin market, driving up one of the market’s oldest and most accessible assets.
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MONERO BULLS NOW EYE $300 TECHNICAL ANALYSIS December 12, 2017
Even after period of consolidation, DASH, NEM and Monero bulls are now inching higher towards their respective resistance lines. Of note today is that consolidation of IOTA.
This was expected given the gains in recent weeks but we still retain our bullish skew.
There is high expectations of LTC expansion in the coming days given the rigorous marketing plans the founder and his team has.
Let’s look at the charts:
20 PERIOD MA A STRONG SUPPORT FOR NEM BULLS
NEM bulls are in charge. Nonetheless, price action is quite tepid unlike the last two or three days. The good thing is that price is slowly inching higher.
As mentioned on December 11, every retest of the 20 period MA should be a wonderful buying opportunity now that we have a stochastic buy signal.
DASH BULLS IN CHARGE
As per yesterday’s recommendation, any close above the immediate resistance trend line meant that bulls were in charge.
Well, on December 11, did close above that resistance line. On top of this, there is a stochastic buy signal in place meaning DASH bulls are in charge.
Any retest of the trend line is another buy opportunity with immediate targets at 0.
IOTA BULLS MOVING WITHIN A WEDGE
The 20 period MA or the middle BB in this time frame remains significant. Since IOTA bulls are finding it hard to close above this resistance level, we should wait until that happens. Alternatively, conservatives should wait until price action break out from this wedge.
Stochastic are somehow mixed. However, we retain a bullish skew since the overall trend as per the weekly chart is bullish.
If bulls lead the way and break above the upper limit of this wedge then we shall aim at December 6 highs of .6
MONERO BULLS EYE 0
As it is, Monero bulls are in charge. This is because price action is trending above the 20 period MA and the main resistance trend line in the chart.
There is a stochastic buy signal and strong bullish candlestick with no upper wicks to signal buy pressure.
In line with bullish momentum in the weekly chart, 0 is the next bull target.
LTC BULLS CLOSING IN ON 0
With every higher high, LTC bulls are getting closer to the all time highs of 0. On December 11, LTC broke above the very minor resistance trend line at around 0.
Because momentum is very strong, any price correction towards the middle BB is another buy opportunity. Better still, should there be a stochastic buy signal, then it will be ideal to go long.
If price action close above 0, then the second take profit level at 0 mark is the next bull target.
All charts courtesy of Trading View
The post MONERO BULLS NOW EYE 0 TECHNICAL ANALYSIS December 12, 2017 appeared first on NEWSBTC.
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MONERO BULLS TEST $300 BEFORE CORRECTING AS IOTA SLOWS TECHNICAL ANALYSIS FOR December 7, 2017
Monero bulls are definitely rally testing for 0 for the first time since launch. As this is a new milestone, correction was inevitable and it did.
Concurrently, IOTA slowed down retracing from its recent highs but this was temporary because it bounced off .2 to resume trend.
Let’s look at the charts:
NEM BULLS LOOKING AT .25 FOR SUPPORT
In the 4HR chart, NEM bulls are ceding ground to bears.
Look at what happened after price action tested the resistance level and the round number at .30. First off, there was a strong bearish engulfing candlestick which ended up confirming a double bar reversal pattern.
After that close, USD bulls were in the trade driving prices below our main support line-the 20 period MA.
The fact that the higher time frames are bullish means that every dip is a buying opportunity and as such we are all looking at how price will react at .25.
This price level is of significance in this time frame and the daily chart which by the way remains bullish.
DASH FINDS SUPPORT AT 0
The fact that the weekly chart is bullish means that we only take long set ups. Yesterday we saw how prices were horizontally consolidating within a range inside a minor wedge.
DASH prices ended up breaking below the minor support and banded along the lower BB towards support marked at 0. As we can observe, prices is somehow finding support after that bullish candlestick deep inside the oversold stochastics territory.
If the current candlestick ends up being a bull then it shows that buyers are entering the trade now that prices are around the main support line.
All in all, the two resistance lines-the 20 period MA and the minor resistance trend lines are our short term resistance zones. Should price action close above these two levels then long trades are valid.
AFTER DOUBLING IN PRICE IOTA BULLS FIND RESISTANCE
As mentioned yesterday, .2 remains a reliable support and a good spring board for IOTA bulls.
Prices ended up correcting but it did so temporarily before rebounding from the main support.
The thing to avoid in such a strong rally is to buy at peaks. As such any retracement offers a buy opportunity in an overly strong bullish environment as stochastics and individual candlestick shows in higher time frame.
Stochastic are still bearish. Therefore it is best to wait until a buy signal forms and that might print when prices are below .2 or well over .5. It is for IOTA demand supply dynamics to decide where.
For traders, patience is an asset now.
MINOR RESISTANCE FOUND AT 0 AS MONERO BULLS CORRECTS
Monero bulls are in charge and trend is generally bullish. Even after smashing the first take profit level at 0, it ended up testing 0.
As this is a major milestone and is what was anticipated after Monero price action bounce from the main support trend line and around the 50% and 61.8% Fibonacci levels in the weekly chart, it is natural for prices to briefly correct before the main trend resumes.
There is a stochastic sell signal in place. The 20 period MA and the minor support trend line should be the first layer of support.
All in all, conservative Monero bulls should wait for a stochastic buy signal. This price recovery could either be from the the middle BB or main support line of 0.
Alternatively, a surge and close above 0 will also signal bull pressure.
AFTER A DROP NEO BULLS EXPECT TO FIND SUPPORT AT AROUND
Bears continue to drive NEO down and below our minor wedge.
With price action comfortably trending below the 20 period MA and back into range mode, we expect support at around .
Note that if prices close below which coincidentally is another resistance-previous support marking November 17 and 28 highs, then odds of further NEO erosion towards and even is high.
Mark you, there is a buy signal in place. Therefore we sit back and wait to see if NEO prices will improve as buyers join the trade.
All charts courtesy of Trading View
The post MONERO BULLS TEST 0 BEFORE CORRECTING AS IOTA SLOWS TECHNICAL ANALYSIS FOR December 7, 2017 appeared first on NEWSBTC.
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Ethereum Price Struggles to Recover Beyond $300 Despite Hard Fork
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Ether Prices Hold Above $300 as Fork Fears Fade
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Bitcoin Cash Price Technical Analysis – BCH/USD Neutral Above $300
Key Points Bitcoin cash price is holding the 0 support against the US Dollar and is trading in a range. Yesterday’s highlighted contracting triangle pattern with current resistance at 3 holds the key on the hourly chart of BCH/USD (data feed from Kraken). The price is likely to remain in a small range before making … Continue reading Bitcoin Cash Price Technical Analysis – BCH/USD Neutral Above 0
The post Bitcoin Cash Price Technical Analysis – BCH/USD Neutral Above 0 appeared first on NEWSBTC.