2018-8-1 03:02 |
It is an across the board altcoins erosion with EOS registering a five percent drop yesterday. While there are hopes for buyers, we need to see rejection of lower lows especially in IOTA, EOS and XLM which is technically bullish. Before then, we shall take a conservative approach and see how prices react at key support lines.
Let’s have a look at the charts:
EOS Technical Analysis From the News As a follow through, Circle has announced support for EOS. It appears that EOS; a digital asset met all their conditions as dictated in their Circle Asset Framework. However, they shall not be accepting EOS Air drops neither will they be providing ERC-20 to mainnet conversion services for the time being.Deposits and withdrawals are currently live. Trading in EOS/USDT, EOS/BTC, and EOS/ETH pairs will be enabled on August 1st. https://t.co/Xnr2BpLFhC
— Poloniex Exchange (@Poloniex) July 31, 2018
To fast tract dApp development, Block One is releasing an open source tool, Demux. This follows the same foot prints as Facebook’s Flux Architecture as well as Redux. The tool simply does the bridging allowing for automatic verification and update of blockchain events on traditional database management systems as MongoDB or Postgres.Block One announces “Demux” – a tool which will drastically simplify dApp development.#EOS #EOSIO @EOS_io https://t.co/XAKZtG0gM4
— EOS Weekly (@EOSWeekly) July 31, 2018
Technical AnalysisEOS Daily Chart by Trading View
Regardless of this steady depreciation- EOS is down five percent in the last day alone, bulls should have reason to smile. Yes, EOS is yet to meet any of our trade conditions as laid out in prior EOS trade plans but as long as they move within this $2 range, buyers have a subtle upper hand.
It’s all about effort versus result scenario and when you notice that sellers are yet to reverse July 15 to 18 gains, we can safely interpret that prices are likely to find support at the lower limit of this trade range at $7.
The only way for cancellation is if there is a high volume, high range break below triggering sells and validating June 22 bear break out trade pattern.
Litecoin (LTC) Technical Analysis From the News Nibyx faucet adds Litecoin and three other coinsNew coins added to Faucet!
– DogeCoin (DOGE)
– PoseidonQuark (POSQ)
– Vsync (VSX)
– LitecoinX (LTCX)
– LiteCoin (LTC)
Hope you enjoy.
Thank you,#Nibyx
— Nibyx (@Nibyx) July 30, 2018
Despite being a work in progress and still in Beta, Litecoin’s Lightning Network has a low full node count. Could low fees be deterrence for adoption? com is the first fully regulation compliant EU based cryptocurrency exchange opens offices readies for registration in Liechtenstein. It’s still in beta state and improving but once it launches, it shall list Litecoin to their users. Technical AnalysisLitecoin Daily Chart by Trading View
In line with our last Litecoin (LTC) technical analysis, our small size LTC sells are now active following yesterday’s four percent dip and confirmation of July 30 bears.
Therefore, as highlighted in our Litecoin trading plan, odds are we might see further losses today. As such, my recommendation is to trade with the trend and sell according to June 10 sell pressure.
However, risk-on and conservative traders can wait for conclusive close below this $20 range at $70 before selling LTC on pullbacks with first targets at $50.
Stellar Lumens (XLM) Technical Analysis From the News Stellar is officially Sharia compliant and has the approval from The Bahrain Central Bank (CBB). Going forward, people practicing Islam can easily interact with Stellar project during tokenization of different assets or transferring funds using the platform. After that landmark decision by the country’s Court of Appeal directing a bank-Banco Estado, the country’s crypto-sphere is booming. Flow, with more than 20,000 customers, partnered with Cryptomkt and while working with CryptoCompra, has made it possible for users to pay for everyday items using cryptocurrencies as XLM and BTC. Already, more than 5,000 merchants have signed up for the service. Technical AnalysisStellar Lumens Daily Chart by Trading view
Our Stellar Lumens (XLM) trade plan is solid and as XLM erosion continues, chances are our first bear targets at 22 cents might be hit.
Remember, we are overly bullish on XLM and the only way this minor sell recommendation would be valid is if buyers edge and close above 30 cents.
In previous XLM technical analysis, 30 cents acts as July highs, a resistance line and a buy trigger line.
Tron (TRX) Technical Analysis From the News TVM launches and Tron celebrates its first anniversary. Tron to expand and open offices in India Technical AnalysisTron Daily Chart by Trading View
As sellers hard press price, chances are we might see Tron (TRX) depreciation below July 24 lows today. When that happens, we suggest trading with the trend keeping in mind that the only way for TRX to recover is if they close above 4 cents.
From previous Tron (TRX) trade plans, we recommend shorting once there is a breach below 3.2 cents with our first bear targets at 2.5 cents and safe stops lodged at 4 cents.
IOTA (IOT) Technical AnalysisIOTA Daily Chart by Trading View
Prices are pretty much stable and the good thing for IOTA buyers is that prices are trending above 90 cents.
Now, according to our IOTA technical analysis, for IOTA bears to take charge, we need to see conclusive breaks below the base of this descending triangle at 90 cents before loading shorts on pull backs.
Before then, we remain neutral while keeping in mind that any appreciation above $1.05 opens doors for probably retest of $1.2-3 and later $2.5.
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, Litecoin, Stellar Lumens, Tron, IOTA Technical Analysis: Sellers Wipe $10 Billion in 24 Hours appeared first on NewsBTC.
Similar to Notcoin - Blum - Airdrops In 2024
EOS (EOS) на Currencies.ru
|
