CLOSE ABOVE $1.62 IS SUPPORTIVE OF NEM

Are these bear flashes important for NEM buyers? Maybe, maybe not. In fact the deeper, the better and for most coins, we now need simple confirmations before we initiate longs.

A point in case is LTC, DASH and Monero. These are BTC alternatives which have been on the receiving end for pretty much the better part of December 2017.

For DASH, buyers were ramping up their long below $1000 and if it continues this way, prices could be on their way snapping back trend.

Let’s have a look at other alt coin charts

CLOSE ABOVE $1.62 IS SUPPORTIVE OF NEM

NEM close above $1.62
XEMUSD 4HR Chart for January 9, 2018

It’s a pretty nice dip and bounce from $1.35 and what do we do from now? Well, as we can see, the long lower wick hints of intra-day buy pressure and it would be a total confirmation if NEM  inch higher in the coming sessions.

I would like to see a double bar reversal pattern after this candlestick pushing prices above the 38.2% Fibonacci retracement level.

Until that happens, I don’t recommend long entries.

DASH FIND SUPPORT BELOW $1000

DASH reverse from $950
DASHUSD 4HR Chart for January 9, 2018

Before this bear pressure, all we needed was a bullish confirmation above $1300 but that didn’t happen. Instead, sellers continue to push prices lower leading to that close below the minor support trend line which in turn opened the gates for sellers.

Our indispensable Fibonacci retracement tool anchoring on last week’s high low shows that DASH reacted at the 78.6% level.

From similar patterns in the past, even if DASH continues to pump prices, the best it can do is test last week’s highs which is also the main short term resistance line at around $1300.

That is where buyers should be aiming in the coming sessions assuming there is no collapse below $950. Therefore, I recommend long entries the moment there is a bull candlestick closing above $1100.

IOTA BACK TO OSCILLATION MODE

IOTA double bar reversal pattern
IOTUSD 4HR Chart for January 9, 2018

After January 6 close above $4.2 turned out to be a fake break out, yesterday’s IOTA lower lows temporarily invalidates our short term bull projection.

As prices continue to oscillate within a $1 range, any close below or above any of these bounding limits might be a break out trade but only if the candlestick is strong enough.

Because last week’s range was low, I still hold on to a bullish narrative especially if buyers push IOTA prices above $4.2 despite the recent bear candlestick testing $3.

MONERO DOUBLE BAR REVERSAL PATTERN AT $350

Monero inch towards $500
XMRUSD 4HR Chart for January 9, 2018

As per our trade recommendation on January 8, our sell limits were at $350.

From the charts and especially if you paste a Fibonacci retracement tool between last week’s Monero high low, you find that this is the 50% retracement level.

Now, look at what is happening. A clear double bar reversal pattern is in progress and assuming buyers triumph and close above $400 in the coming sessions then $500 won’t be a trudge.

WITH A RETEST ON COURSE LTC PRICES COULD END UP AT $300

LTC buys from $255
LTCUSD 4HR Chart for January 9, 2018

After dipping to as low as $231, LTC found support. Now, as per my recommendation, any test of $255 is a retest and that is what we are seeing now.

The deal here is simple.

If this double bar reversal pattern printing out at around the 61.8% and 50% Fibonacci retracement level acts as a spring board for buyers, I recommend longs the moment LTC prices close above $270.

All charts courtesy of Trading View

Subscribe to our newsletter

The first publically accessible marketplace for IoT (Internet of Things) has been launched this week. Berlin-based crypto startup IOTA has partnered with Microsoft, Fujitsu and twenty other companies including Bosch and Accenture to develop a blockchain solution to data monetization via internet-connected devices.

Analysts predict that business-to-business spending on IoT technologies and solutions will reach $267 billion by 2020. More and more devices will create a near-endless stream of data, and the market for data-driven insights is being eyed as a catalyst for IoT growth.

The initiative will allow stakeholders to share and monetize their data in a secure way in a tamper-proof data marketplace via distributed ledger powered by the cryptocurrency. IOTA’s blockchain will distribute the data to countless nodes in order to ensure that integrity and security remain intact.

The altcoin uses a different technique to distribute and decentralize its ledger, unlike standard blockchain technology. A system called ‘tangle’ which claims to offer free transactions and much better scaling opportunities than regular blockchain systems. IOTA co-founder David Sønstebø stated “We are very excited to announce the launch of our data marketplace. This will act as a catalyst for a whole new paradigm of research, artificial intelligence, and democratization of data.” According to its latest white paper IOTA “naturally succeeds the blockchain as its next evolutionary step, and offers features that are required to establish a machine-to-machine micropayment system.”

The marketplace demo will run until January and IOTA stated they will release a series of blog posts to highlight how companies can use the technology and benefit from it. IoT devices connected to the IOTA ledger will allow regular users to sell their data and allow them to access other data streams. A system that facilitates the sharing and selling information from smart devices across the internet may enable people to profit from their own personal data.

IOTA does not require miners which is why the transactions are free, developers and investors are banking this and the rapid growth of IoT to push the crypto technology further. IOTA is currently the ninth largest cryptocurrency with a market capacity of just over $4 billion. Trade volume in the past 24 hours has been around $370 million, and prices have jumped from a range bound $0.4 – $0.6 for three months or to around $1.4. Many altcoins have enjoyed a resurgence in price action following Bitcoin’s monumental climb to five figures and the latest news will only push the price of IOTA even further.

IOTA has proven to be an interesting creation. After being in development for a long time, the tokens were finally issued to investors earlier this year. The currency quickly entered the cryptocurrency top 10 as a result. Things have slipped a bit ever since, though. Moreover, it seems the network is undergoing some major issues as of right now. The final transactions on the network took place 38 hours ago. Developers are working on a solution, though, but it will take some time to solve this problem.

It is never good to see a cryptocurrency network grind to a halt. Especially when no one knows how this was allowed to happen in the first place. For IOTA, things are looking anything but promising for the time being. With no transactions taking place, there is no real progress whatsoever. The developers are aware of the problem and working on a fix. However, it is impossible to provide an accurate deadline or ETA right now. For the time being, the IOTA network isn’t functional, as it has been for over 38 hours now.

IOTA Issues are Quite Severe

It is certainly true every cryptocurrency network can suffer from issues. Bitcoin has had some hiccups along the way as well. However, most people were all too aware of these issues at that time. In the case of IOTA, it seems most of the details are kept under tight wraps for now. We do know the developers asked all full node owners to shut them down for now. A new update and wallet will be released as soon as possible.

On Reddit, this news is met with mixed responses so far. There are a few people calling IOTA a “scam”, although that seems to be exaggerated. It is certainly true things don’t look good, but no money has been lost in the process. Users aren’t able to spend their tokens right now, though. That in itself is a big problem, as it effectively renders ITOA virtually useless right now. Once the situation is resolved, however, things will go back to normal pretty quickly.

That being said, for a currency with a market cap of over $1bn, one would expect better things. Issues like these are incredibly problematic and already last far too long. Issues always take a few hours to solve successfully. Anything that lasts nearly two full days is cause for concern. It will be interesting to see how the market responds when the network is online again. Right now, people can’t even sell their coins unless they are on an exchange already. A rather problematic development, all things considered.

NEOUSD TECHNICAL ANALYSIS

That flash buy on Friday pushed NEO prices higher. However, since price movement over the weekend remained muted, the minor resistance trend line drawn from 08.10.2017 and 14.10.2017 highs and the 20 period MA is a lifeline for NEO bulls. Right now, the price is rejecting any price above $30 and continues to trend lower. Anyway, my deduction is simple, there is no buy signal which we expected after that bullish push on Friday and consequent bull volumes are waning. Break below support of $24 means sellers are in charge and USD bulls are in the trade. Conversely, break above $32 resistance triggers NEO bulls. Refer Figure 1 (Above): NEOUSD-Daily Chart-16.10.2017

DASHUSD TECHNICAL ANALYSIS

altcoin, analysis, dash, oct 16
Figure 2: DASHUSD-Daily Chart-16.10.2017

Price is oscillating within a tight $80 range marked by 12.10.2017 doji candlestick. By any standard, bull price rejection happens around $330 to $340 which is a resistance confluence zone marked by the resistance trend line-that between 24.09.2017 and 12.10.2017 highs and the support turned resistance drawn from 14.09.2017 and 05.10.2017 lows. My recommendation is patience until there is a break above $340 for bull entry or if in case that resistance trend line stands and the bear trend continues, sellers should join in below $250 which is a safe entry zone. Either way, there is a buy signal in place but these whipsaws and dojis give mix signals which is not beneficial for trend traders. We remain neutral as we watch stochastics and volume behavior to predict the most probable trend direction.

IOTUSD TECHNICAL ANALYSIS

iota, altcoin, analysis, oct 16,
Figure 3: IOTUSD-Daily Chart-16.10.2017

Buy momentum is sustained as shown by stochastics and on another level, the resistance trend line managed to rebuff any price appreciation above $0.45. On these three days when prices were constricted within a tight $0.10 range defined from 12.10.2017 Hi-Los, volumes remained tepid and on a negative trajectory after recording a record 19M. The 19M surge in bear volumes was the force behind that bear candlestick which closed below $0.45. Following my Saturday’s recommendation, bull trigger happens when there is a break above $0.48 highs of 12.10.2017 and a consequent break above 30.09.2017 and 12.10.2017 resistance trend line. Important bear levels remain at $0.38 which is 04.09.2017, 15.09.2017 and 12.10.2017 support levels.

MONERO-XMRUSD TECHNICAL ANALYSIS

xmr, monero, altcoin, analysis, oct 16
Figure 4: Monero-XMRUSD-Daily Chart-16.10.2017

There was a brief price appreciation on Saturday before a correction on Sunday. For the record, price tested 23.08.2017, 15.09.2017 and 27.09.2017 highs of $102. That level is turning out to be significant for bulls. In the meantime though, correction towards the support trend line or the 20 period moving average around $86 to $95 provides a wonderful opportunity for bulls to buy at a cheap and aim for that resistance level at $122 as long as there is a buy signal and increasing momentum. Also, notice how volumes have been sustained above 25K daily average in the past 3 days. There is obvious supply-demand push and pull at these current price levels.

LSKUSD TECHNICAL ANALYSIS

LSK, lisk, altcoin, analysis, oct 16
Figure 5: LSKUSD-Daily Chart-16.10.2017

Despite across the board bull pressure in most alt-coins, USD bulls are pushing LSK down. On Saturday, we mentioned that as long as prices remain below that resistance trend line then we remain bears until when there is a clear push above. That should be accompanied by a strong bullish engulfing pattern or a two-bar reversal pattern. In this case, though, price action remains within 12.10.2017 Hi-Los and that minor support trend line connecting 09.10.2017 and 14.10.2017 lows still holds. There is a buy signal but bear volumes are still below the daily average trading range and therefore, today’s candlestick can lead to a break above resistance or below minor support for bear trend continuation. We remain neutral for now until a clear trend is defined.

Contributed by Dalmas Ngetich, an expert with 3 years in Forex, Commodity and Cryptocurrency trading. All charts, courtesy of Trading View

NEOUSD TECHNICAL ANALYSIS

12.10.2017 and 13.10.2017 lows of $26 will be our minor support level. Actually, a double bar reversal pattern was anchored there when yesterday’s candle closed. For now, any appreciation to gauge bullish presence will only be valid with prices closing above $33 and a stochastics buy signal in place. In the meantime, the 20 period moving average and support turned resistance is our ceiling and it looks likely to be broken in the short term. Refer Figure 1 (above): NEOUSD-Daily Chart-14.10.2017.

DASHUSD TECHNICAL ANALYSIS

dash, altcoin, analysis, oct 14, cryptocurrency
Figure 2: DASHUSD-Daily Chart-14.10.2017

The above average bullish volumes of 13.10.2017 drove prices higher confirming that 09.10.2017 was indeed a fake bear break out. Relative to price action characteristics, stochastics were turning from the oversold territory when price broke below support trend line and looked like bears were actually in charge after 09.10.2017. Since there is clear price rejection above $330, it’s safe to wait for a break above that region of resistance marked by the resistance trend line and the 20 period MA before going long.

IOTUSD TECHNICAL ANALYSIS

altcoin, analysis, IOTA, oct 14, cryptocurrency
Figure 3: IOTUSD-Daily Chart-14.10.2017

There is a high likelihood that 12.10.2017 break-out below $0.45 and support line will form a basis for a two-bar reversal pattern. Advised from yesterday’s developments, and failure of price action to trend lower, the previous bear projection is now invalid. Since price action is still trending within a tight $0.10 range, I will wait for a break above resistance trend line and fine-tune long entries in shorter time frames with perfect prices around support at $0.45. A safe stop loss will be below second support at $0.38 with an immediate bull target at $0.65.

MONERO-XMRUSD TECHNICAL ANALYSIS

monero, xmr, altcoin, analysis, cryptocurrency, oct 14
Figure 4: Monero-XMRUSD-Daily Chart-14.10.2017

Our bear projection was invalidated on two levels. First off, that bullish engulfing pattern thrusting and closing above the support-turned-resistance trend line and the 20 period MA.  Secondly, an uptick in bull volumes as shown by the volumes indicator, fuelling buy momentum and pushing prices higher. As noted yesterday, any appreciation and candlestick close above $90 means bulls are in charge. Therefore, judging from 13.10.2017 candlestick close-which was by the way accompanied by high -around $13 range, expect some consolidation in lower time frames in the next few trading days. Zoom into lower time frames and buy at any correction towards support.

LSKUSD TECHNICAL ANALYSIS

LSK, LISK, altcoin, analysis, cryptocurrency,
Figure 5: LSKUSD-Daily Chart-14.10.2017

As long as the price is held below that region of resistance confluence, then bears should be in charge. For day trades though, that minor support trend line connecting 09.10.2017 and 13.10.2017 lows remains significant because, on three different occasions, bulls have rejected price erosion below $4.5 resulting in those long lower wicks and hints of buy pressure. However, despite that buy blip, immediate take profit target is at $4 now that bear volumes are surging, surpassing daily averages.

Contributed by Dalmas Ngetich, an expert with 3 years in Forex, Commodity and Cryptocurrency trading. All charts, courtesy of Trading View

NEOUSD TECHNICAL ANALYSIS

After a spin and horizontal consolidation along our clear resistance trend line and the 20 period MA, sellers took charge and 12.10.2017 candlestick closed as a bear. There is also a long upper wick bouncing off resistance and this means we go short today. Place a stop loss above $32 and aim for that support zone between $14 and $20. Refer Figure 1 (Above): NEOUSD-Daily Chart-13.10.2017

DASHUSD TECHNICAL ANALYSIS

altcoin, analysis, dash, oct 13, cryptocurrency
Figure 2: DASHUSD-Daily Chart-13.10.2017

Notice the bear volume spike on 12.10.2017 and price failure to close above the support turned resistance trend line at $320. So far, price action is moving higher in lower time frames but as long as it doesn’t close above $320 – a region of strong resistance zone as shown by that confluence of critical lines, bears will be in charge. After all, since price tested support at $250, there has been no significant trend established rather than retests, whipsaws, and consolidation which is profitable for scalpers. Sellers should short and aim for that support and first take profit level at $220.

IOTUSD TECHNICAL ANALYSIS

altcoin, analysis, cryptocurrency,
Figure 3: IOTUSD-Daily Chart-13.10.2017

For any support or resistance level to be convincingly broken, price slide or appreciation must be accompanied by the large candlestick. Well, 13.10.2017 candlestick was huge, trading at a $0.10 range and closed at $0.38. This bearish volume surge drove prices lower as 19M bears jumped in. At $0.48 highs, the resistance trend line at $0.50 stood and today it looks like price action will trend along the lower BB, probably band and close lower.

MONERO-XMRUSD TECHNICAL ANALYSIS

XMR, altcoin, analysis, cryptocurrency,
Figure 4: Monero-XMRUSD-Daily Chart-13.10.2017

12.10.2017 candlestick closed as a bear, turning away from the support turned resistance trend line at $86.3. From break out pattern sub-sections and trading strategy, there must be a retest and right now, as price action trends above $87, it provides a perfect opportunity to initiate shorts in lower time frames. Looking at the volume, you can note that there has been a jump in volumes to around $20K, only superseded by 09.10.2017 volumes which recorded 25K breaking above the daily volume average. Both of them are also bears meaning that bears are in charge despite the temporary trend higher. Of course, given the volatility, our bear projections will be invalidated only when price and bulls push higher and closed strongly above $90 or the support turned resistance trend line.

LSKUSD TECHNICAL ANALYSIS

altcoin, analysis, lisk, cryptocurrency
Figure 5: LSKUSD-Daily Chart-13.10.2017

Two days of wild swings it has. Note that bearish volume upswing as yesterday’s candlesstick closed. You will detect that as sellers jumped in, volumes spiked to 781K-way above daily average of 585K and then boom, the daily resistance trend line and the 20 period MA acted as a ceiling preventing further price appreciation. Secondly, look at how the previous stochastic buy momentum has begun converging meaning buy momentum is subsiding as prices turn lower. This is turning out as a bear break out with classic characteristics of that trading strategy. Best time was to short yesterday as recommended with a stop loss above support trend line at $6.1. However, since swings are toning down, you can initiate sells every time there is a retest of resistance trend line with immediate take profit level at $4.2

Contributed by Dalmas Ngetich, an expert with 3 years in Forex, Commodity and Cryptocurrency trading. All charts, courtesy of Trading View

NEOUSD TECHNICAL ANALYSIS

Including today’s candlestick, we can conclude that the last 3 candlesticks were presentative of a horizontal consolidation resulting into dojis. The technical term for such formation is a “spinning top”. In the real sense, there was reduced volatility and participation levels remain flat over the same period as shown by below average volumes. Furthermore, the price is still oscillating within 09.10.2017 Hi-Los-a tight $9 range. However, chances of a break below temporary support of $25, and a consequent bear trigger remains high. Sellers should actually begin selling and aim at $20 and $14 respectively. A reliable stop loss should be placed above today’s highs at around $30. Refer Figure 1 (above): NEOUSD-Daily Chart-12.10.2017

DASHUSD TECHNICAL ANALYSIS

dash, altcoin, analysis, cryptocurrency
Figure 2: DASHUSD-Daily Chart-12.10.2017

Yesterday’s and today’s candlesticks ended up testing support turned resistance trend line and the 20 period MA as price moved higher above $315. It is also likely that today’s candlestick might end up as a doji with a long upper wick meaning sell pressure. If sustained, then we retain our bear forecast and enter short in short time frames-I recommend 4hr chart and nothing lower by the way. I will reiterate that any bullish price close above $320 accompanied by a sharp bullish volume spike means canceling our short projections. Overly, I remain bearish and the recent DASH appreciation offers a perfect shorting opportunity. Sellers should enter short, place a stop loss above $320 and aim at $220.

IOTUSD TECHNICAL ANALYSIS

IOTA, altcoin, analysis, cryptocurrencies, IOTA
Figure 3: IOTUSD-Daily Chart-12.10.2017

At the end of the day, the resistance trend line drawn from 30.09.2017 and 08.10.2017 highs managed to reject further price appreciation. With a highs of around $0.49, yesterday’s candlestick closed as a doji and was followed by further price erosion today. $0.45 is our support and it is likely that it will be broken. If it happens, sellers should initiate positions with a stop loss above $0.50 and aim at $0.30 which is another resistance turned support.

MONERO-XMRUSD TECHNICAL ANALYSIS

Monero, XMR, altcoin, analysis,
Figure 4: Monero-XMRUSD-Daily Chart-12.10.2017

I had to zoom this out for you to clearly see. One thing is for sure, there was a clear break below support trend line on 09.10.2017 and that constituted a bear break out. No doubt about that. Secondly, as a feature of a breakout, there must be a retest. The support turned resistance trend line was retested on 10.10.2017 and 11.10.2017 at around $86. Today price reached a high of $89 but then look at the sell pressure. Bears are jumping in and driving prices lower as shown by that long upper wick resulting in a temporary inverted hammer as the day progress. Given these technical formations, I’m net bearish.

LSKUSD TECHNICAL ANALYSIS

LSK, Lisk, blockchain, cryptocurrency, altcoin, analysis
Figure 5: LSKUSD-Daily Chart-12.10.2017

Over the last 4 days, a classic Evening Star reversal pattern was formed. In fact, with a high of $5.5 on 11.10.2017, price action tested the all-important support turned resistance trend line. This level of resistance defines price action trend in the short term. As indicated yesterday, it is imperative for prices to stay below $5.5 if bears are to profit. Today, prices trended even higher testing $5.9. However, candlestick characteristics show that price was quickly rejected and sellers jumped in as shown by that long upper wick. Price is currently just below the daily resistance trend line and the 20 period MA at around $5.2. Further depreciation means that daily resistance level holds and we continue selling.

Contributed by Dalmas Ngetich, an expert with 3 years in Forex, Commodity and Cryptocurrency trading. All charts, courtesy of Trading View

NEOUSD TECHNICAL ANALYSIS

Price action is held within $34 and $25 and so long as volatility doesn’t result in a strong bullish candlestick which closes above $34, we shall continue to treat this rebound as a retest following a breakout. For bear trend to be confirmed, bulls should retest $32-$34 before a correction resulting in a close below yesterday’s lows of $32 and the 20 period MA support. Refer Figure 1 (above): NEOUSD-Daily Chart-11.10.2017

DASHUSD TECHNICAL ANALYSIS

dash, altcoin, analysis, cryptocurrency markets
Figure 2: DASHUSD-Daily Chart-11.10.2017

Further moves lower, is proving futile after price tested $250. I’m still a bear and after a breakout, similar set-ups in the past often show gravitation higher and retest of support turned resistance which in this case will be at around $300 to $310. Any price appreciation with sell signals in lower time frames around $290 provides a wonderful shorting opportunity for sellers. However, if prices continue to rise in sync with stochastic bullish momentum and close above $320, 09.10.2017 will definitely be a fake bear break-out.

IOTUSD TECHNICAL ANALYSIS

IOTA, oct 11, analysis, altcoins, market
Figure 3: IOTUSD-Daily Chart-11.10.2017

On Monday, the first take profit level was at $0.45 was hit. Since Monday was particularly bearish with strong bearish volumes driving prices lower, consolidation was expected as historically proven. Volumes dipped and yesterday ended up higher, exciting bulls. There are new sets of conditions for bears to be sure of their trend. First, the support line at $0.45 must be broken and secondly, the resistance trend line drawn from 30.09.2017 and 06.10.2017 highs must hold and rebuff any price appreciation. If there is a bull volume spike and price close above $0.52, we enter long and aim at the first resistance line at $0.65.

MONERO-XMRUSD TECHNICAL ANALYSIS

xmr, altcoins, analysis, monero, oct 11
Figure 4: Monero-XMRUSD-Daily Chart-11.10.2017

Price action has reverted back to its daily average range even after Monday’s bear break out. At just $4 range and a bullish candlestick, bears gave up on some of their Monday’s gain. Since our bearish view remains invariable, 09.10.2017 lows of $82 will be our minor support line and any further price depreciation below it means a break away from the BB squeeze. This will cement bear position and confirm a bear break out. However, If price close higher, then $82 lows will be in sync with 24.08.2017 and 22.09.2017 lows for a double bottom reversal pattern. In that case, a break above the 20 period MA and resistance trend line will invalidate my bear projection and buyers should aim at $106.

LSKUSD TECHNICAL ANALYSIS

lisk, lsk, altcoin, analysis, cryptocurrency
Figure 5: LSKUSD-Daily Chart-11.10.2017

As noted yesterday, the short to medium trend of this pair depended directly on the nature of participants. In this case, it turned out that buy volume was high after Monday when candlestick closed as a doji. You can also note that despite the lower BB hugging, the price actually closed below the lower band. As a result momentum up was confirmed yesterday with a buy signal and an evening star in the process. Since this is a 3-star reversal pattern and double bottoms at 09.10.2017 and 15.09.2017 lows, we close our sells and aim for 18.09.2017 highs of $6.85. Trend high will be strong especially if price action break and close above support turned resistance trend line at $5.5.

Contributed by Dalmas Ngetich, an expert with 3 years in Forex, Commodity and Cryptocurrency trading. All charts, courtesy of Trading View

NEOUSD TECHNICAL ANALYSIS

Over two days and strong bear volume spikes-at 1M, price action broke through support trend line. Stochastics are still bearish and if price manages to stay below the 20 period moving average today, then the first bear target at $20 will likely be hit. Minor Support level of $26 is acting like a neckline in that M-formation. Advised from this technical formation, sellers initiating short positions in lower time frames should place a safe stop loss above yesterday’s highs of $34 while those who shorted yesterday are advised to move their stop losses to break even. Refer Figure 1 (above): NEOUSD-Daily Chart-10.10.2017

DASHUSD TECHNICAL ANALYSIS

altcoin, analysis, dash, oct 10
Figure 2: DASHUSD-Daily Chart-10.10.2017

As yesterday’s candlestick closed, a bearish break out was confirmed. Yesterday’s candlestick was important not only because of that bear validation but by its intrinsic characteristics. Note the bear volume spikes breaking above daily average range meaning yesterday’s activity was full of bear participants who drove prices lower. Secondly, note how lower and upper BB are widening in response to increased volatility-price action moved $70 yesterday in contrast with daily averages of about $40. In doing so, the first Take Profit level at $270 was hit. As price action aligns with the lower BB-classic BB banding, sellers should be in charge. Second resistance turned support level of $220 should be the next target.

IOTUSD TECHNICAL ANALYSIS

analysis, cryptocurrency, altcoin, iota, oct 10
Figure 3: IOTUSD-Daily Chart-10.10.2017

Immediate support of $0.50 was broken through yesterday as price oscillated lower. As price action continues to band along the lower BB, seller momentum as shown by the stochastic bear signal and bear volume spike-should continue. Given the buy-seller dynamics, the first level of strong price reaction is expected at 04.09.2017 and 15.09.2017 lows of $0.36. $0.36 is the lower range of our take profit zone on the daily chart and that is the ideal take profit level.

MONERO-XMRUSD TECHNICAL ANALYSIS

altcoin, analysis, cryptocurrency, monero,, xmr, oct 10
Figure 4: Monero-XMRUSD-Daily Chart-10.10.2017

Finally, as yesterday’s candlestick closed, price action was boosted by bear volumes and spiked $8. In doing so, there was a break out below the support trend line and the wedge. Price also managed to close below the 20 period moving average and the momentum-sapping BB squeeze. Like all other major alt-coins, you can see seller momentum is high as lower BB banding begins to take shape. Bear targets at $80 and $60 are viable. As we were waiting for this bear break out, a safe stop losses should be above yesterday’s highs of $90.

LSKUSD TECHNICAL ANALYSIS

altcoin, analysis, lisk, cryptocurrency, oct 10
Figure 5: LSKUSD-Daily Chart-10.10.2017

Yesterday’s candlestick was evenly matched between sellers and buyers as it closed as a doji. There was also a retest at $5.0 which is the support turned resistance trend line. However, the lower BB banding after yesterday’s close means USD demand is high. $4 remains a bear target but today’s close and nature of participants-buyers or sellers-will determine the short-to-medium trend of this pair.

Contributed by Dalmas Ngetich, an expert with 3 years in Forex, Commodity and Cryptocurrency trading. All charts, courtesy of Trading View

NEOUSD TECHNICAL ANALYSIS

As yesterday’s candlestick closed, our minor resistance level at $35 had been broken with price action testing resistance trend line at $38. It tested that level before reversing lower. Price moved $9 forming a double bar reversal pattern or a bear engulfing pattern, whichever pattern you would prefer. Also notice that this pattern was accompanied by above average volumes which spiked to 1M. By forming this candlestick, a double top was confirmed following similar price action pattern on 02.10.2017 and 03.10.2017. For bears to be completely in charge, conservatives should wait for a break below support trend line at $29. Should it happen with strong volumes at or above daily average, then intraday traders can initiate shorts in lower time frames. Already, there is a stochastic sell signal which gives a hint that bear momentum is still high. Refer Figure 1(above): NEOUSD-Daily Chart-09.10.2017

DASHUSD TECHNICAL ANALYSIS

analysis, altcoin, DASH
Figure 2: DASHUSD-Daily Chart-09.10.2017

So just like NEOUSD, there is a clear break below support trend line with increased bear volumes. Yesterday, 33K bears jumped in, that was 5K more orders on average over the last 3 or so trading days. You also note that stochastics turned lower following the break below support trend line. Today, bears should enter short especially if price action breach $286. Our targets remain unchanged at $270 and $220.

IOTUSD TECHNICAL ANALYSIS

altcoin, analysis, cryptocurrency
Figure 3: IOTUSD-Daily Chart-09.10.2017

The 20 period MA is acting as a reliable resistance trend line and as price action consolidates between $0.55 and $0.50, our profit target remains unchanged. Overly, I anticipate sell momentum to continue over the next few trading days now that volumes are stabilizing. $0.50 remains our immediate support level and if broken, then aim for the lower range of that take profit zone at $0.36. Safe stop losses should be placed above $0.55, which is the 20 period MA.

MONERO-XMRUSD TECHNICAL ANALYSIS

analysis, cryptocurrency , altcoin
Figure 4: Monero-XMRUSD-Daily Chart-09.10.2017

So far, even though bear momentum is still high, price action is still within the BB squeeze and consolidating towards the apex of that wedge. Additionally, there is almost no movement as price action is oscillating a very narrow $2 which is contrary to the average $7 price change a day. In the last 4 days, there have been a series of lower low relative to the upper BB and a rebound from the 20 period MA which is now a flexible resistance. Any break above $94 and consequent close above resistance trend line will invalidate our bear projection especially if it is accompanied by strong bull volume. For now, sellers should aim for immediate support at $81 while keeping an eye at participation levels as shown by volumes.

LSKUSD TECHNICAL ANALYSIS

altcoin, analysis, lisk
Figure 5: LSKUSD-Daily Chart-09.10.2017

Our 06.10.2017 break out was confirmed on 07.10.2017 and yesterday when those two bear soldiers were printed. First off, our minor support at $5 was blasted through yesterday as sellers jumped in. Note those high volumes-at 650K above the daily average of 500K. Secondly, the lower BB candlestick hugging. The latter is particularly indicative of high momentum and since the recent pattern is a classic breakout with a retest of support turned resistance trend line at $5.5, I expect more bear build up. Target support line at $4.0 and move stop loss to break even.

Contributed by Dalmas Ngetich, an expert with 3 years in Forex, Commodity and Cryptocurrency trading. All charts, courtesy of Trading View