October 5, 2018 October 5, 2018 Crypto News No Comments
At the back of 80+ drops, the altcoin market is priming for higher highs. From a new Tron wallet to impressive developments in IOTA, bulls stand a chance. Because of this and supportive technical developments, we recommend buying TRX and Litecoin at spot prices.
Let’s have a look at these charts: EOS Price Analysis
Binance, where most EOS trades are executed , is now the largest crypto exchange in the world. The Chinese exchange record daily transaction volumes of around $780 million according to statistics. This figure will spike once the exchange open new offices in Africa, Jersey and Malta complementing other exchanges spread across 10 countries. In Binance, USDT/EOS flow is $66.5 million in the last day eclipsing those of ETH at $41 million.
Price wise, EOS prices are consolidating, oscillating within a tight $1.2 trading range with strong resistances at Sep 22 highs. Minor support is at $5 or Sep 25 lows. Therefore, considering how candlestick alignment and the ranging market, our previous EOS price analysis is valid.
As before, it won’t make sense to buy at $6.2 since it is only 8 cents away from the main resistance line at $7.
This is reasonable from a risk-reward point of view.
However, any rally above $7 shall trigger buyers keen on loading on dips with first targets at $9 and later $15.
On the flip side, minor support at $5 acts as sell trigger that would see EOS dump to $4 or $15 in sync with our last EOS forecasts. Litecoin Price Analysis
It’s only 305 days before Litecoin miners get half rewards . So far, 69.74 percent of coins are in circulation with 25,413,125 LTCs available for distribution. With generation every 2.
5 minutes, miners extract 14,400 LTCs every day. Current network hash rate is at 307TH/s.
Though Litecoin prices are relatively stable in the last day, candlestick alignment hints of upsides.
Aside from the last three days losses, LTC is still trading inside Sep 27 bull bar and today we might see reversals back towards $70.
In lower time frames, there is rejection of lower lows at the back of high volumes. As such, we recommend aggressive type of traders to load at spot rates with stops at $55—as before. Therefore, in line with our previous Litecoin trade plan , suitable buy trigger lines stand at $70. Stellar Lumens Price Analysis
Our last highlight point at the significance of Sep 23 bar. Though there is an accumulation with prices moving inside a descending wedge with clear resistance at 30 cents and supports at 23 cents, Stellar Lumens bulls stand to benefit considering yesterday’s rejection of lower lows.
Like yesterday, we recommend patience once recommending buys if there is a follow through of yesterday’s bullish attempts driving prices back above 25 cents. Thereafter, we shall recommend aggressive traders to buy at spot with stops at Sep 23 lows at 22 cents and first targets at 30 cents and later 50 cents.
It will be only after Stellar Lumens bulls have generated enough momentum to edge prices above 30 cents will risk-averse traders jump in loading on dips as they sync with the overall momentum. On the safe side, drops below 22 cents cancel this bullish forecast. Tron Price Analysis Here is a quick demo on the TronWallet with the newest features.
Check it out and let us know what you think! @TronWalletMe #TRON $TRX https://t.co/MJD9tjeqey
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