LTC HOOKE’S LAW? BUY OR SELL?

Back to physics and LTC Hooke’s Law is what’s in play folks. From historical price set ups, the longer the stretch, the stronger the break out and I have emphasized that enough times.

So maybe you should look at buying NEM, IOTA and Monero especially if it closes above that double top as trend resumes.

Let’s have a look at other alt coin charts

NEM IS BACK IN LINE

NEM IS BACK IN LINE
XEMBTC 4HR Chart for January 13, 2018

As the week nears to an end, NEM is finally getting some traction and from yesterday’s analysis, all we need is a close above the 50% Fibonacci retracement.

With higher highs, it is most likely and that is what we are waiting today.

In line with this expectation, I recommend buyers to get in at the close of this candlestick.

LUMENS DIPS TOWARDS MIDDLE BB IS ANOTHER BUYING OPPORTUNITY

LUMENS DIPS TOWARDS MIDDLE BB IS ANOTHER BUYING OPPORTUNITY
XLMBTC 4HR Chart for January 13, 2018

As long as XLM candlesticks continue to print, we remain buyers. At the moment, we have a minor spinning tops formation along the 38.2% Fibonacci retracement level and two things can happen.

One, buyers may continue pushing prices higher-and that is what I think might happen or there might be a correction to the 50% retracement level and the middle BB.

Of course, given the set-up that is ideal for “buy on dips” strategy and should offer a wonderful opportunity to profit with minimum risk for swingers.

TRADE THE BREAK OUT AND BUY IOTA

TRADE THE BREAK OUT AND BUY IOTA
IOTBTC 4HR Chart for January 13, 2018

Now that we have a break out above the minor resistance trend line, we may as well as buy.

Now, if prices correct, our first support will be the middle BB and below it, IOTA bulls should look to place their stops and account safety net.

CLOSE ABOVE MONERO DOUBLE TOPS IS IMPORTANT FOR TREND CONTINUATION

CLOSE ABOVE MONERO DOUBLE TOPS IS IMPORTANT FOR TREND CONTINUATION
XMRBTC 4HR Chart for January 13, 2018

A simple Fibonacci retracement from last week’s high lows shows that prices reversed from around last week’s highs.

Regardless of the current Monero higher highs, it would have been ideal if buyers jumped in from the main break out-now support line at 0.025 BTC.

However, that has not been the case so we trade as per the trend.

Of course from previous analysis, Monero is playing within a break out and the moment prices close above the double tops, then well, those who didn’t snatch Monero at a discount should load up.

LTC HOOKE’S LAW

LTC HOOKE’S LAW
LTCBTC 4HR Chart for January 13, 2018

I had to check twice to see if my chart was loading right. Yes, it was and LTC is still in a squeeeeeeezzzze!! The longer it gets the better and stronger the break out.

It’s like the Hooke’s law in physics, the longer you stretch that rubber band the snap back will be more powerful and painful if you are on the receiving end.

I’m net long and I recommend longs now with stops below 0.017 BTC.

All charts courtesy of Trading View

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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

The popularity and resultant price increase of Bitcoin and its ilk has become a magnet for cybercrime and hackers vying to get an illicit profit from crypto mining. By utilizing the path of least resistance and preying on the vulnerabilities of the uninitiated they have taken to the easiest platform to exploit – social media.

Facebook is already an out of control web of digital detritus, clickbait, spam, and fake news. Now it’s instant Messenger service has fallen victim to an exploit which allows attackers to secretly mine cryptocurrency by harnessing the computing power of those infected. Researcher and cyber security firm Trend Micro discovered the malware which consists of a mining bot called Digmine.

It is spread via a fake video that appears to have been sent from someone in the victim’s friends list. Once opened the ‘video’ installs malicious code which will compromise the desktop version of Facebook Messenger when used with Google Chrome. Hackers then have a backdoor into the users Facebook account where they can access the contacts list to further spread the malware.

Researchers at Trend Micro stated:

“If the user’s Facebook account is set to log in automatically, Digmine will manipulate Facebook Messenger in order to send a link to the file to the account’s friends. The abuse of Facebook is limited to propagation for now, but it wouldn’t be implausible for attackers to hijack the Facebook account itself down the line.”

It currently does not affect mobile versions of Messenger as its primary target is desktops with CPU power that can be used to mine Monero, an anonymous crypto cousin of Bitcoin. The profits from this illicit computer-jacking are sent to the attacker’s encrypted Monero wallet. The software is a modified version of open source mining program XMRig which the bot sets to start automatically. This will fire up Google Chrome with an infected extension that allows the hackers to access Facebook profiles.

According to the Trend Micro team:

“The extension will read its own configuration from the Command and Control server. It can instruct the extension to either proceed with logging in to Facebook or open a fake page that will play a video. The decoy website that plays the video also serves as part of their C&C structure. This site pretends to be a video streaming site but also holds a lot of the configurations for the malware’s components.”

Officially Chrome extensions can only be downloaded from their web store but in this case the malignant code is added via the command line. This is not the first or last time mining malware has been used to exploit systems, back in October a malicious program called Coinhive was embedded into a number of compromised apps on Google Play. A new trend in crypto malware is emerging so extra caution is needed for heavy users of social media.

A good and useful cryptocurrency needs specific features to succeed. Not only does it need to be fungible, but it also requires secure storage solutions. In the Bitcoin world, using multisignature support has almost become the new normal. Things are a bit different when it comes to the majority of altcoins. Monero, the coin known for its privacy and anonymity, will receive multisig support soon. The code has been merged into the official development branch as we speak.

Most Monero enthusiasts are all too aware of the multisig development. This code has been worked on for quite some time now. After a thorough testing period, the new feature is now officially merged into the main branch of Monero development. Interested entities can always check out this code on Github. For many people, this is excellent news in every possible way. It shows the Monero team is working hard to make their cryptocurrency better and more secure.

Multisig Support is Coming to Monero Soon

The next Monero client will release will have multisig support. It is unclear when we can expect this new client, although it is good to know what types of features one can expect. There are some other interesting features about this integration as well. More specifically, multisig transactions and addresses look the same as regular Monero transactions and addresses. That is quite different from Bitcoin and any other coin supporting multisignature solutions right now.

In the Bitcoin world, regular wallet addresses begin with a “1”. Multisig wallets have a “3” at the front. In the case of Monero, there will be no way to distinguish between regular and multisignature transactions and wallets. For a currency focused on privacy and anonymity, that is quite a marvelous feat of strength. Moreover, it may help other exchange platforms and services integrate Monero support in the future. Multisignature support is pretty significant in this regard, as it opens up a lot of new opportunities.

Speaking of which, it’s also good news for darknet adoption of Monero payments. So far, most DNMs remain on the fence about XMR due to the lack of multisig support. With the new client due out soon, that will all come to change as well. It will be interesting to see how the general cryptocurrency responds to this new development. Most people focus on profits rather than solid technical developments these days. An interesting future lies ahead for Monero, that much no one can deny.

There have always been concerns over using Bitcoin as a currency. Not only is it not straightforward for most consumers, the number of platforms accepting BTC is also limited. That situation is slowly coming to change, but other things are happening as well. A lot of major musicians and online stores now accept Monero payments. This makes Monero the one currency seemingly succeeding where Bitcoin and Ethereum failed to make a big impact.

No one can deny the appeal of Bitcoin and Ethereum in the world of cryptocurrency. However, using them for real-life purchases can be quite cumbersome. In most cases, it is simply impossible, even for most digital services and products. In the music industry, cryptocurrencies have not made the biggest of impacts yet by any means. Bitcoin and Ethereum have been talked about a lot, but bar a few artists, no one is jumping on this opportunity just yet.

Monero Makes Mainstream Progress

That makes it all the more interesting to see 45 musicians accept Monero payments right now. Additionally, five online stores will also accept XMR payments as of this week. Anyone who pays for purchase son any of these platforms will receive a nice discount. Artists such as Weezer, Slayer, Dolly Parton, and Mariah Carey all embrace Monero in this regard. This is a remarkable decision, considering how this cryptocurrency has flown under the radar for most of 2017.

It is evident a lot of people have ignored this cryptocurrency for far too long. It is important to have proper use cases, instead of only being a store of value. Considering how Monero is about privacy, it makes this news even more interesting. Monero is, according to G-Eazy, the safest, more secure, and most private cryptocurrency. It is an intriguing development in the world of cryptocurrency, that much is certain.

All of this is part of the Project Coral Reef. This venture is the brainchild of Naveen Jain, a big Monero fan. His collaboration with various artists allowed this venture to become a real thing. Cryptocurrencies lack general acceptance first and foremost. Monero may be the first currency bar Bitcoin to make a meaningful impact in this regard. It is evident big things are happening to all cryptocurrencies right now. This initiative will help put this currency on people’s radar.

From price action, it is turning out that NEO and NEM bulls shall close the week strongly.

What we should note though is the strong NEO bounce from the main support trend line at around $29.

The thing is, NEO is now above $34 line and technicals are even set for more upside.

DASH and Monero are slowing down with lower lows while IOTA is oscillating around key resistance zone of $1.3

Let’s look at the charts:

AFTER TESTING LOWS OF $0.20 NEM BULLS BOUNCE BACK

alt coin NEM 4HR chart technical analysis
XEMUSD 4HR Chart for December 2, 2017

NEM bulls are trending higher in the daily chart and clearly fading the double bar reversal pattern that formed on November 28 and 29.

Overly, the bulls are in charge even if we take a top down approach and base our trades on the weekly chart. In the 4HR chart, bull momentum is strong. In fact, there is a stochastic buy signal turning from oversold territory.

Then again, notice how price action bounced off the support trend line at $0.20. Right now, NEM bulls have broken two levels of resistances at $0.22 and $0.24 with $0.26 highs printed on November 29 being the next target.

It will be extremely important for bulls to close above $0.24 and the main support-previous resistance trend line in the daily chart.

$820 REMAINS A SHORT TERM RESISTANCE ZONE FOR DASH BULLS

alt coin DASH 4HR chart technical analysis
DASHUSD 4HR Chart for December 2, 2017

In the daily chart, DASH is moving within a very steep ascending channel.

Even if we have a stochastic sell signal turning from overbought territory, buyers looking to enter the trade should tread with caution. This is largely because DASH is bullish in the weekly chart.

Zooming in to the 4HR chart, the lower lows relative to the upper BB is clear and with stochastics in place, DASH looks likely to correct towards the 20 period MA should prices fail to close above November 30 highs of $818.

The ideal bear target is at November 20 highs of $670 but since the trend is bullish, we only initiate longs when there are stochastic buy signals in place.

IOTA BULLS SHOULD IDEALLY CLOSE BETWEEN $1.1 AND $1.3 BY WEEK END

alt coin IOTA 4HR chart technical analysis
IOTUSD 4HR Chart for December 2, 2017

While trading IOTA, we should remember that price action is around highs Fibonacci retracement tool stipulates. This is our area of temporary resistance.

Going forward we expect two things to happen in order to rubber stamp our bull projection. As the week close tomorrow, IOTA bulls should at least close within $1.1 and $1.3.

The second and the most ideal situation calls for IOTA bulls to close strongly above the resistance trend line of this rising wedge even if we have stochastic sell signal in place.

At the moment, intra-day traders should wait for a close below the 20 period MA to execute short positions with immediate target at $1.3.

$170 IS A SHORT TERM SUPPORT LINE FOR MONERO BULLS

alt coin Monero 4HR chart technical analysis
XMRUSD 4HR Chart for December 2, 2017

Yesterday, Monero short term trend was entirely based on which part of the divide price action closed at.

Resistance line was at $170 while support was $154. Well, bulls took over after price action moved in sync with the weekly chart trend.

Because of this break and close above resistance, our immediate support is at $170. This will largely depend on if bears shall manage to close below the 20 period MA.

The later has been a strong support zone over the last 4 weeks and is therefore a significant level. Overly we remain bullish and take long positions only.

BOUNCE OFF MAIN SUPPORT TREND LINE MEANS NEO BULLS ARE IN CHARGE

alt coin NEO 4HR chart technical analysis
NEOUSD 4HR Chart for December 2, 2017

NEO bulls are reversing from below the main support line at $34.

This is after that spectacular reversal from the main support trend line after a double bar reversal pattern was formed accompanied by a stochastic buy signal turning from oversold territory.

Immediate support remains at $34 and retest is a buy opportunity.

Generally, every dip is a buy opportunity going forward and will remain so especially if prices close above $40.

All charts courtesy of Trading View

 

 

Monero is one of the fastest growing cryptocurrencies in the world. It is highly secure and has been able to maintain the confidentiality of its coins and the coin owners. This currency uses top-notch technological systems which make it impossible to trace any of its transactions. All the Monero coins are identical and can be exchanged to uphold the privacy of its owners. This usually termed as being fungible.

The receipts for this cryptocurrency are kept public, but they are anonymous hence impossible to trace the origin. You can make deposits or transfer funds without a trace. The currency utilizes a ring signature system which enables it to even hide the value of the Monero cash transferred. This is an ideal currency for people who need an untraceable media of transacting cash. It is the most private crypto and is highly safe from any form of interference.

Monero is a newer cryptocurrency than Bitcoin, but it has been able to compete favorably. It uses the CryptoNote protocol as opposed to the bitcoin protocol. It is highly preferred compared to bitcoin because of its heightened priority on the privacy of its users. Also, Monero has a higher possibility of remaining competitive in the cryptocurrency market. This is because it is on the StackExchange which totally increases its already booming public source code repository.

Monero also enables you to carry out larger transactions. It does not have a block size limit which is present in other currencies. Lack of this limit enables it to carry out many transactions in one second compared to others such as Bitcoin.

In the next few years, exciting games such as slots will be played using Monero. Perhaps the bonuses will be given in these terms, and gambling will be more thrilling. Here is the list of free slot games with bonus rounds.

Rapid Growth

Another reason why you should invest in Monero is that it is exhibiting a rapid growth rate. The number of people embracing its use has been on the rise since it was initiated. This is because it has shown an undoubted capability to keep the financial information of its users private. People have different reasons for concealing their financial info, and this has to be respected. Monero makes it very possible for them.

However, there is an unfounded accusation that associates Monero currency with illegal money such as drug trafficking money. This is not a money laundering scheme or a get rich quick mechanism as suggested by some quarters. It is simply a cryptocurrency that ensures the privacy of its users. What they decide to do with their money is up to them.

Monero is an excellent investment for the long term because more people are demanding for the privacy of their money. It has continued to prove that it can uphold the privacy of its clients much better than other currencies. It can also prevent the disclosure of its value and make it practically impossible for anyone to trace the amount of cash being transacted.

Where to Acquire Monero

The Monero can be bought at the website CEX.IO. This is an excellent platform that works through the Fill-or-Kill order concept. The FOK orders are essential because they enable people to transact businesses at the exact prizes they desire. For instance, if you fill a form to purchase Monero at a certain value, it stops for two minutes looking for someone willing to sell at your desired prize. When you find a match, the transaction is completed in a short time.

This site utilizes a 2-factor authentication to protect the transactions of its users. The system makes it tamper proof and basically impossible to hack. CEX.IO provides a simple platform that is very easy to use. It has very high limits, and this enables users to transact as much money as they want. It is the site used for purchasing Bitcoins.

The use of cryptocurrencies has been on the rise in the past few years. These currencies are more preferred compared to other currencies because they are untraceable hence quite ideal for individuals who value privacy and confidentiality. The current market trends that these currencies show that they will compete with larger currencies strongly in the next few years.

Many people are embracing the use of these currencies. There was an initial doubt when they began because people were not sure about what they are. Many thought that they are money laundering schemes while others suggested that it was a mechanism for hiding illegal cash. The current trends have shown that these currencies are actually beneficial.

They can be used by people from all over the world and are not easily affected by external forces such as politics. The cryptocurrencies are not affected by jurisdictional borders hence can be used for a large number of activities. Soon, activities such as gambling that require the use of cash will be revolutionized to accept the use of these untraceable currencies. Their security features and systems make them ideal for activities such as betting that handle loads of cash and have an ardent need for privacy.

Monero is certainly the fastest growing cryptocurrency in the world. It is newer than Bitcoin but has shown great commitment in upholding the privacy and security of its clients. All the transactions are totally untraceable, and its presence in the StackExchange makes it a viable investment for the future. Also, the rate at which people are using it is high which shows that it will exhibit a high growth rate in the next few years. This is certainly the kind of investment to venture in. The reasons above will convince beyond reasonable doubt that you should try it out.

There is a broad based alt coin price appreciation against the USD. As hinted by alt coin price charts, chances of across the board alt coin rally is high. Let’s review these alt coins below:

ALT COIN LSK PRICE ACTION ANALYSIS

Alt coinLSK Daily Chart
LSKUSD Daily Chart for 24.10.2017

As the markets opened today, LSK got a shot in the arm. So far, alt coin LSK has move $1.2 and strongly rebounded from support mentioned at $4.3 breaking above the 20 period MA. USD bears are currently retesting the resistance trend line at $5.2. Should LSKUSD close above that area of resistance strongly, the alt coin LSK bulls will drive prices towards our previous resistance at $6.5. Also note that stochastic bull divergence with a buy signal in place. If it remains this way, LSK bulls should be in charge as bull momentum build up from the oversold territory.

ALT COIN DASH PRICE ACTION ANALYSIS

Alt coin DASH Daily Chart
DASHUSD Daily Chart for 24.10.2017

Before today’s upturn, the first DASH bears profit level was hit at $250. As you can see, alt coin DASH hit $250 before USD bears pushed DASH prices higher. This is the third time in 15 trading days where the same support is being retested. For now, DASHUSD is oscillating in a channel bounded at the upper limit by $330. There is a high chance of further alt coin DASH rally with that stochastic buy signal and a bullish divergence. For now, if today’s candlestick close as a bull then it shall confirm an evening star and a 3-day reversal pattern with a buy stochastic signal.

ALT COIN IOT PRICE ACTION ANALYSIS

Alt coin IOT Daily Chart
IOTUSD Daily Chart for 24.10.2017

Yesterday’s IOT bear alt coin prediction depended on IOT restriction below $0.45. Yes it did but with new developments. Now, over the past 3 trading days, alt coin IOT has always closed as a doji with those long lower wick. That signal IOT bullish pressure and surely, a buy signal is in place in the daily chart. IOT bulls pushed volumes above 13M daily average and USD bulls are now cutting their losses. Anyway, that evening star pattern with high volumes and a stochastic buy means IOTUSD will rally in the coming days.

ALT COIN MONERO PRICE ACTION ANALYSIS

Alt coin Monero Daily Chart
Monero Daily Chart for 24.10.2017

Just like other alt coins, there is a broad base USD weakness as shown in Monero alt coin daily graphs. Monero price chart is showing tendencies of a Monero rally in the coming sessions. For now, there is no buy signal neither are stochastics turning from oversold territory. Currently the value of Monero or XMRUSD depends on the first level of support and the direction where the BB squeeze will break towards. If Monero prices appreciates above the 20 period MA and closes firmly above it as a bullish engulfing pattern, then we go long and aim above $100 with stop loss below $75.

ALT COIN NEO PRICE ACTION ANALYSIS

Alt coin NEO Daily Chart
NEOUSD Daily Chart for 24.10.2017

As mentioned earlier, alt coin NEO value depends on how USD reacts at $26 support and $34 resistance levels. Our NEOUSD rally relied mainly on NEO close above $34 and that is what is happening today. NEO prices broke above the 20 period MA and tested $34. There is a NEO buy signal as stochastics are turning from the oversold territory. Sustained USD bear pressure means a buy entry tomorrow with immediate target at $40.

All charts courtesy of Trading View

NEOUSD TECHNICAL ANALYSIS

NEOUSD Daily Chart for 19.10.2017
NEOUSD Daily Chart for 19.10.2017

This is the second day-at least as I type this, where price action is swinging within 17.10.2017 Hi-Los of $34 and $27. We expected prices to trend higher following that bullish break out but then the 20 period moving average capped further NEO appreciation despite that bullish momentum as shown by stochastics. We retain a bullish skew but before a potential NEO run high, there should be a retest of that resistance turned support trend line at around $26. Sustained NEO depreciation below $26 means a bear trend continuation as signaled after 09.10.2017 bear break out.

DASHUSD TECHNICAL ANALYSIS

DASHUSD Daily Chart for 19.10.2017
DASHUSD Daily Chart for 19.10.2017

In 10 days of trading, bulls are rejecting any close below $260. Yesterday, DASH breached the minor support trend line at $270 but bulls entered and the candlestick closed as a doji. I will reiterate that any DASH price below $250 accompanied by a strong bearish engulfing candle AND above average bear volumes will confirm DASH bear trend set on 09.10.2017. We have seen those higher highs retesting the support turned resistance trend line on 13-15.10.2017 before rebounding and being capped by the 20 period moving average. That can be interpreted as the second stage of a break out pattern-the “retest”. Stochastic signals bear momentum enhanced by bearish volumes which lead to a doji as yesterday’s candlestick closed.

IOTUSD TECHNICAL ANALYSIS

IOTAUSD Daily Chart for 19.10.2017
IOTAUSD Daily Chart for 19.10.2017

Three days after bullish break out and IOTA is literally consolidating along the $0.45 support line. The 20 period moving average is also acting as a ceiling against further IOTA price appreciation. Stochastics are still bullish and that is important. For now, any retest of $0.45 should offer perfect buy entries for buyers. If you want to go long then place your stop loss below $0.40 while aiming for risk reward ratio of 1:3

XMRUSD TECHNICAL ANALYSIS

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Monero price action is still within a $20 range. Yesterday, Monero broke below the 20 period moving average support at $91 and trended lower. Bear volumes are also within daily averages and boosting sell momentum as shown by stochastics. Take profits should be within $75-80 for sellers who entered at around $100 resistance level. However, if you want to scalp, look for short entries in lower time frames.

LSKUSD TECHNICAL ANALYSIS

LSKUSD Daily Chart for 19.10.2017
LSKUSD Daily Chart for 19.10.2017

Buy pressure is still intact and in fact LSK prices are trading above our potential resistance zone of $5.15. A potential LSK appreciation was obviously boosted by those two bullish doji candlestick of 17-18.10.2017 which attracted respectable volumes. I’m looking forward for a strong bullish candlestick either to confirm the retest of support turned resistance trend at around $6 or a bearish one for bear trend continuation. So, I advise traders to put LSK on their watch list.

All charts courtesy of Trading View

 

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