Week over week, we are seeing some gains in the crypto market and leading the charge under the coins on focus is Bitcoin Cash. It’s up 12 percent in the last week alone and at the same time others as EOS added 10 percent. Overly this is positive and while prices are yet to breach key resistance line and warrant longs, we shall nevertheless take a neutral to bullish stance in the coming days.

Let’s have a look at these charts:

Like any digital ecosystem, development is the lifeline for growth. So, it’s no surprise that Ethereum development net is sweeping as more and more developers are keen on joining the ballooning Ethereum ecosystem. With tools as Truffle which Ethereum say is their Swiss Knife, dApp developers can easily compile smart contracts and even create links because Truffle by itself has built-in smart contract capabilities and cool management extension for links and binaries.

On the other hand, tools as Ganache which have seen their month over month download spike 76 percent is helping spread the popularity of Ethereum. Ganache defines itself as a “personal blockchain for Ethereum development” and with it, there is no need to launch chains at mainnet or testnets, Ganache does that for the user.

Our ETH trade plan is simple. In the midst of a bear trend there is optimism following recent events. Regardless, what stands out in the last three months is the classic effort versus result scenario visible as sellers attempt to reverse April gains.

While the trend remain bearish, it’s likely that the general optimism in the market will lift Ethereum prices up in the coming days. Before that happens, ETH bulls must first break and close above $550, our immediate resistance line and July highs.

Thereafter, we can suggest buying on dips with first targets at $850.However, before we begin buying, it’s better to remain neutral and wait for break outs as laid out in our previous trade plans.

Fundamentally, XRP is not having it easy. First, there is this momentum sapping delays from the SEC and secondly, the fact that CoinBase is dilly dallying about their stand on XRP is dumping down optimism.

However, away from the US, XRP is finding support at different exchanges helping deepen liquidity. Encouragingly, Ripple figure heads are not shy to spell out their master plan saying their overall intention is to slash down wait time associated to cross border payment from days to seconds. Of course, to make that possible xRapid and XRP would be on demand facilitators.

Back to price action and the influence of 45 cents is clear. Not only is it our main support line but it also doubles up as 2018 lows. In any case, we are seeing buyers rejecting further depreciation resulting in that triple bottom.

Nonetheless, and as laid out in our previous trade plan, we shall take a neutral position until after we see strong gains above 55 cents assuming XRP price sync with current market sentiment. On the flip side, any dip and close below July 20 lows would user in sellers driving prices to 15 cents.

As reported by various sources, BCH is one of those high demand cryptos in Iran. Apparently, due to economy crippling US sanctions, their central bank issued fiat has been rendered useless because of hyperinflation. So, as a means of exchanging services and storing value, Iranian are circumventing sanctions by accepting payment in high liquid coins as BCH, BTC and even LTC.

By intervening in such dire situations, BCH is simply proving how censor resistant it is and how global adoption would prevent directives as such from becoming effective. Thus far, BCH is up four percent and moving inside a consolidation.

As mentioned before, we shall take a neutral stand but with bullish expectation despite this BCH undervaluation. Yes, aggressive BCH traders can begin loading up at current BCH prices and when they do, safe stops at $700 would be effective. However, patience is important and in that case, waiting for clear break BCH above $850 would be safe for those planning to load on dips with first targets at $1,300.

Overshadowing RAM news and related FUDs is solid news that the EOSIO blockchain through put is on an upward trajectory.

Last week for example, it’s through put surpassed that of visa after registering 2822 TPS prompting Novogratz, the owner of Galaxy Digital to say that the network will soon be processing over 50,000 TPS. This is by all accounts a direct endorsement from an influential crypto investor with interest at Block One, the publisher of EOSIO.

In the meantime, EOS is up one percent and stuck within a horizontal consolidation with resistance at $9. Now, as before, we need EOS buyers to edge past $9 if at all we expect EOS to accelerate towards $15, our first buy target.

Remember, this is a bullish outlook that we are taking while cognizant of the fact that sellers are in charge. As such, gains past $9 must be accompanied by strong volume surges otherwise and depreciation below $7 might open doors for further sell pressure pushing prices towards $4.

All in all, XMR is trading within a clear bear break out pattern with $150 being an important price tag. Not only is it a break out level but the fact that $150 is our immediate resistance previous support means for buyers to edge higher, then it must break above this level.

Because of this then, conclusive close above $150 with a marked increase of trading volumes will ignite Monero longs on dips in lower time frames going forward. On the reverse side, any close below $100 means selling on pull backs with first targets at $70.

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.

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