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EOS, Stellar Lumens, IOTA, Litecoin, Tron Technical Analysis: Litecoin (LTC) is $700 Million Away From Dropping to 8th
Yesterday’s altcoins price movement is a normal occurrence often happening after periods of rapid gains/losses.
Stellar Lumens is leading the charge. On the other end though, EOS, Litecoin, Tron and IOTA are relatively flat and retracing. Regardless, we still remain upbeat expecting fundamental events to stimulate the next wave of buy pressure.
Let’s have a look at the charts:
EOS Technical Analysis
Scalability is one area that EOS is excelling at. Before their mainnet launch, it was one of their main agenda. That’s apart from offering free transactions and simplifying this whole blockchain thing. In line with their objective, yesterday we saw their TPS spiking to 2822 surpassing that of Visa—which processes transactions at 2,000 TPS but capable of much more.
Congrats to the #EOS community on becoming the fastest growing, highest performing (2000+ TPS w/ 500ms block times), most efficient (1% inflation and no fees), and most aligned blockchain ecosystem in the world… in just 6 weeks https://t.co/R0OR0hIqU4
— BrendanBlumer (@BrendanBlumer) July 18, 2018
This is definitely a new high coming straight from a blockchain project and reflects the cumulative efforts from the community and the team behind EOSIO. At this rate, EOSIO is open for even higher TPS all thanks to the 21 super nodes allowing for speed.
At the charts, EOS is stagnant and even if it is down four percent in the last day, we still hold on a bullish skew for obvious reasons. Well, as long as price action oscillates inside July 17 high low we expect buyers to be in charge and drive prices above our buy trigger line. Before then, we shall be neutral and trading in line with our laid out trade plan.
Litecoin (LTC) Technical Analysis
![Litecoin (LTC) Technical Analysis](https://s3.amazonaws.com/main-newsbtc-images/2018/07/19194347/Litecoin-Daily-Chart-July-20.png)
Litecoin Daily Chart By Trading View
A few days after flappening, Litecoin is in risk of dropping to position eight in the liquidity list. Its market cap is only 0 million away from that of Cardano’s at billion. Anyhow, from the way charts are set up, there is more room for further gains especially now that we are net bullish after yesterday’s up-thrust above , our main bull trigger line.
The thing is, despite yesterdays slow down and low level consolidation, LTC prices are still trending within July 17 candlestick supporting our assertions. In any case, my recommendation is to load at current prices with stops at or July 17 lows.
Alternatively, conservatives can wait for strong close above before initiating buys with stops at and targets at 0 as before.
Stellar Lumens (XLM) Technical Analysis
In the past week, Stellar Lumens has been a resilient if not an interesting pair to trade. Yes, it’s likely that we shall have a damping effect going on to the week as price action and traders in particular respond to the explosion of prices mid week but that is normal.
That is a characteristic feature following this kind of explosions. Now, the deal is, XLM might retrace slightly and in that regard I suggest setting buy limits anywhere between 25 cents and 30 cents with immediate targets at 50 cents. In any case, and considering the break above at 22 cents, that’s where we should set up our stop loss.
Tron (TRX) Technical Analysis
After deliberation, Justin Sun is expressing his interest and wants to run as a SR candidate. To be clear, this is going to be a personal decision and neither would be the 33.25 billion TRX coins under Tron Foundation escrow would be used to influence voting in any way.
Of course, it’s going to be interested and in the spirit of governance and demonstration of how the system works, let’s see if he shall wade of competition and be slotted as one of the 27 SR.
Price wise though and we have this mid range Evening star complete with a bear pin bar right at 4 cents. From our analysis, our ideal long would be triggered if TRX buyers edge and close above 4 cents. If not, then we shall take a neutral stand expecting bears to drive prices towards 2.5 cents as before.
However, considering the general positivity, taking a neutral position would be better as we wait for buyers to drive prices above this minor resistance line triggering longs in line with our other trade plan. This might happen either today or the weekend and at worse, next week. However, this condition applies only as long as prices are within July 17 high low.
IOTA (IOT) Technical Analysis
So far, IOTA is down seven percent and in the process it appears as if sellers are rejecting any gains above July highs. In that case, it remains obvious that we shall remain neutral as IOTA continues with this consolidation.
90 cents remain our anchor price tag and movement above .3 open doors for upsides. Without any movement in either direction, we remain neutral.
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.
The post EOS, Stellar Lumens, IOTA, Litecoin, Tron Technical Analysis: Litecoin (LTC) is 0 Million Away From Dropping to 8th appeared first on NewsBTC.
(Despite the Hard Fork and Historic Block Size increase, Bitcoin Cash is Spineless and dropping Like a Stone) Bitcoin Cash (BCH) Technical Analysis: May 12, 2018
Undoubtedly, the crypto market is fighting from an on-slaughter. Bears are baying for blood! Despite their May 15 hard fork, Bitcoin Cash isn’t finding any reprieve and so far it is down 20 percent week over week. In the last 24 hours alone, price erosion exceeds 15 percent. It might be a correction yes, but at the moment it a beautiful Picasso showing how Bitcoin Cash sellers are marauding, staking any attempts of bull pressure.
From the News
Roger Ver, the Crypto evangelist many Bitcoin Core supporters love to hate won’t stop pitching his beloved coin. He still insists that it’s a better currency and therefore a better store of value that Bitcoin Core. Now, if you have been tracking this guy for sometimes then you will realize that this is the umpteenth time he his saying so. Will repetition come to pass someday? Well, maybe, maybe not. What we know for sure is that Bitcoin Cash shall be forking once more.
However, this time since it shall be done at MTP time, there is no need to track block height. We anticipate this upgrade to take place on Tuesday, May 15 and there, the block size would be hiked to 32 MB from 8MB making it that largest ever block size increment in the world. Besides, their protocol data carrier sizes shall be increased to 220 bytes.
If you are a Bitcoin Cash full node or miner, please update, if not then you better stay on the side line and watch. Before the fork begins, full nodes should upgrade their clients to the 32 MB supporting Bitcoin ABC 0.17.1 version.
So, while speculations are rife that this upgrade shall increase Bitcoin Cash transaction throughput and fees, will this boost prices after the fork? Or, will it even be successful in the first place regardless of Bitcoin Cash staunch following in Korea and Japan? Let’s wait and see!
Bitcoin Cash (BCHUSD) Technical Analysis
Weekly Chart
Unless a miracle happen, Bitcoin Cash shall end up with a conspicuous double bar bear reversal pattern right at the middle BB, a resistance line. That’s a fact! So, despite that stochastic buy signal turning from deep the oversold territory, the general sentiment is bearish.
Bitcoin Cash prices are down 18 percent in the last 24 hours and 20 percent in the last 7 days effectively reversing week ending May 7 gains. At this rate, we shall be aiming for take profit targets at 00 and 0. Many didn’t expect this to happen and advised by this, we shall be looking for sells in lower time frames.
Daily Chart
Like the weekly chart, the depreciation is real but not as wholesome. Bears are stepping on the gas and the result has been that clear break below the middle BB. Inevitably, this means sellers are in charge and it means we shall be trading a bearish break out pattern.
So, building on to the bearish engulfing pattern we are seeing in the weekly chart, immediate targets is at 00, there we might see a reaction and a bounce back to 00 or so before bears resume their pressure with targets we mentioned earlier.
The post (Despite the Hard Fork and Historic Block Size increase, Bitcoin Cash is Spineless and dropping Like a Stone) Bitcoin Cash (BCH) Technical Analysis: May 12, 2018 appeared first on NewsBTC.
LTC/USD Consolidating After Dropping to Key Fibonacci Level
Litecoin was not immune from the cryptocurrency bloodbath this week. It dropped 50% from its all-time high and confirmed below the daily Ichimoku cloud. Here is a quick overview.
LTC/USD Price Action
After reaching the all-time high level of 0 in mid-December, LTC/USD started a brand new downtrend. It has been mainly supported by the 76% Fibonacci retracement level of 3, as it tested it once in December and twice in the past week.
![LTCUSD-Price-Action](https://s3.amazonaws.com/main-newsbtc-images/2018/01/19034000/LTCUSD-Price-Action.png)
It has also confirmed below the daily Ichimoku cloud, with the Tenkan line, Kijun line, and the future cloud in a bearish momentum. The Chiko span has yet to cross below the cloud though.
Unlike many of its major cryptocurrency counterparts, Litecoin has mainly been consolidating after the sharp plunge. It has formed a series of Doji candlestick patterns in the past few days, with no clear indication of its next direction.
How Are the Other Cryptos Doing?
Besides Ripple’s XRP which has shifted into a bullish momentum after the plunge, many other cryptocurrencies including Ethereum and Bitcoin are also in a consolidation mode.
Litecoin and Bitcoin are practically correlated because their use cases are very similar. If you consider Bitcoin as an asset like gold, Litecoin would be Silver.
Litecoin was created by former Coinbase engineer Charlie Lee in 2011 as a quicker alternative to Bitcoin.
What Was the Crash All About?
This week’s crash came after a global tide of regulation against the inchoate cryptocurrency industry. On one hand, these regulations may be scaring bitcoin investors into selling their coins now before the full impact of regulation makes itself felt. On the other, it may also be threatening suspect exchanges such as BitConnect, with its own token declining in value by 46 percent between December 17th and January 15th — the day before it announced its closure.
In the United States, regulation has reared its head in the form of the SEC.
But you can’t blame this all on the fundamentals. From a technical point of view, these drops were also noted as an inevitable flow of market sentiment. And the fact that the prices fell exactly to the key support levels, further strengthens our pullback theory.
Any Good News in the Cryptocurrency World?
Yes. First off, Japan’s biggest bank, Mitsubishi UFJ Financial Group Inc. is hopping on the cryptocurrency train. It is planning to release its own cryptocurrency coin by March 2018.
In the US, the housing industry is starting to dip its toes into the Bitcoin water. One Miami condo seller is only accepting Bitcoin offers, while online real estate brokers say several other listings are willing to accept bitcoin as a payment option.
These are certainly good news for cryptocurrency bulls. However, there is no doubt that the crypto market can still be very easily manipulated by bots and big players due to lack of regulation.
The post LTC/USD Consolidating After Dropping to Key Fibonacci Level appeared first on NewsBTC.
AFTER DROPPING FROM $45 NEO BEARS SHOULD WATCH $34 SUPPORT
After lower lows, NEO bears seem to be finding resistance at . Nevertheless, given that obvious bounce from , NEO looks likely to consolidate within a range especially if there is a break below today.
Let’s look at the charts:
BEAR PRESSURE IN 4 HR CHART BUT NEM BULLS STILL IN CHARGE
![alt coin NEM Daily chart](http://www.newsbtc.com/https://s3.amazonaws.com/main-newsbtc-images/2017/11/NEMUSD-Daily-Chart-22.11.2017.png)
If you are trading this pair, you only have to look at the behavior of the stochastics. It is almost mixed and zig zagging indicating how price movement in lower time frames look like.
All in all, the NEM bulls look to be in charge now that yesterday closed with a long upper wick. In the 4hr chart there is some sell pressure.
However, if NEM prices manage to stay afloat and fail to close below .198 then bulls are strongly in charge and a push above the main resistance trend line is likely to happen.
DASH WHIPSAWS
![alt coin DASH Daily chart](http://www.newsbtc.com/https://s3.amazonaws.com/main-newsbtc-images/2017/11/DASHUSD-4HR-Chart-22.11.2017.png)
On November 20, DASH gained a massive 0 but as we saw yesterday, it gave back those gains after printing lows of 5 which was just shy of November 20 lows.
That was how volatile DASH was yesterday. In the 4HR chart, the main support trend line which has been DASH spring board from November 6 prevented prices from dipping further as you can see in the chart.
We still remain bullish and since there is a stochastic buy from support line in the 4HR chart, intra-day traders should only be taking long positions.
CLOSE ABOVE .90 IMPORTANT FOR ALT COIN IOTA BULLS
![alt coin IOTA Daily chart](http://www.newsbtc.com/https://s3.amazonaws.com/main-newsbtc-images/2017/11/IOTUSD-Daily-Chart-22.11.2017.png)
From price action characteristics, IOTA is definitely bullish. We can see that from yesterday’s long lower wick and the fact that IOTA prices are inching higher and striving to close above immediate resistance at .90.
From our post, if it does that, IOTA bulls should be eyeing August highs of .1. However, if prices tumble today and close below support of .83 in the 4HR chart, then we enter short and take our profits at around .61.
We should exercise caution in our buys because after all, stochastics is around the overbought territory with IOTA printing lower lows relative to the upper BB.
AFTER CLOSING ABOVE 6, MONERO BULLS NOW AIM 3
![alt coin Monero Daily chart](http://www.newsbtc.com/https://s3.amazonaws.com/main-newsbtc-images/2017/11/XMRUSD-Daily-Chart-22.11.2017.png)
As per our interpretation yesterday, Monero prices are appreciating after closing above 6.
For this move to happen we have to see some strong bullish confirming candlestick today. It also means going long in the lower time frame whenever there is a stochastic buy signal.
Notice that yesterday’s candlestick ended up as a bull with long lower wick. This close means there was rejection of prices below 6.
NEO BEARS HIT RESISTANCE AT
![alt coin NEO bears Daily chart](http://www.newsbtc.com/https://s3.amazonaws.com/main-newsbtc-images/2017/11/NEOUSD-Daily-Chart-22.11.2017.png)
Following that bear divergence pattern in the 4HR chart, NEO price action is now correcting lower following that over valuation.
It is worth noting that a double reversal pattern is also forming along the main support trend line. Additionally, there is whole candlestick forming outside the upper BB.
Further NEO devaluation yesterday made November 18 and 19 highs a retest. It also completes a bear break out pattern. That means we sell if NEO close below .
Either way, this reversal will keep price action oscillating within another large trading range between and .
All charts courtesy of Trading View
The post AFTER DROPPING FROM NEO BEARS SHOULD WATCH SUPPORT appeared first on NEWSBTC.
Bitcoin Cash Price Keeps Dropping as $350 Looms in Sight
Things continue to go downhill for Bitcoin Cash as we speak. Although this altcoin has had a pretty solid run during the first few weeks of its launch, things are certainly evolving in a different direction right now.With the Bitcoin Cash price dropping another 7.54% over the past 24 hours, things are not looking all that great. Then again, comebacks are not uncommon in the cryptocurrency world either. Bitcoin Cash Price Keeps Going Down No one can deny the past week has anything but pleasant for Bitcoin Cash holders. While this altcoin still tried to make a name for itself,
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Broken Hash Crash IOTA’s Price Keeps Dropping on Tech Critique
IOTA’s price has tanked since an MIT researcher revealed that code vulnerabilities had led to a patch for the widely-touted cryptocurrency.
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Broken Hash Crash? IOTA’s Price Keeps Dropping on Tech Critique
IOTA’s price has tanked since an MIT researcher revealed that code vulnerabilities had led to a patch for the widely-touted cryptocurrency.
CoinDesk