Technical

Cardano, EOS, Stellar Lumens, Monero, Litecoin Price Analysis: Exchanges Ramp Up Altcoin Listings, Hints of Market Confidence

Dalmas Ngetich | September 17, 2018 | 12:02 am
blockchains
Technical

Cardano, EOS, Stellar Lumens, Monero, Litecoin Price Analysis: Exchanges Ramp Up Altcoin Listings, Hints of Market Confidence

Dalmas Ngetich | September 17, 2018 | 12:02 am

Though EOS, Cardano, Monero, Stellar Lumens and Litecoin price analysis portray positivity, we are yet to see strong gains safe those of early last week. Litecoin news of Gemini listing coupled with Abra’s addition of Cardano (ADA) are bright spots but first Cardano prices must rise above 7 cents nullifying current sells.

EOS Price Analysis

Latest EOS News

  • Gambling dApps dominate the EOSIO blockchain just like Cryptokitties and similar games run supreme in the Ethereum platform. Unlike the latter, hackers have a reason to exploit these casino applications like they did last week when approximately $250,000 worth of EOS were siphoned off two betting dApps. In one case, hackers exploited a weakness in DEOS smart contract withdrawing $24,000 worth of EOS in six hours. However, it was at EOSBet where hackers got sophisticated, betting risk free after bypassing the token ->transfer functionality making away with $236,000 or 44,427.4302 EOS. This is before development team picked up the anomaly and immediately deactivating the smart contract.

EOS Price Prediction

Despite low level consolidation, EOS is up five percent in the last week. The result is a thrust back to range mode. As it has been the case over the last four or five weeks, EOS prices continue to steady inside the $3 range between $4 main support and $7 resistance line, a level which has been successful in capping gains.

Though yesterday was stable, our previous EOS price analysis holds true and longs are valid. That’s unless there is a dip below $4 invalidating this recovery. After all, EOS prices are still in consolidation and moving inside buy triggering Sep 13 high lows. This means sellers are finding resistance elevating buyers’ chances of driving prices towards the all important $7 bull target.

Litecoin Price Analysis

Latest Litecoin News

  • During the successful Litecoin Foundation summit, Winklevoss Twin’s Gemini announced their plans to offer support for Litecoin trading pairs. Confirming this, Gemini VP of Engineering said the SEC regulated exchange will begin rolling our Litecoin trading pairs by Oct 13. Overly, this should boost Litecoin price.

Litecoin Price Prediction

Technically, news of Gemini listing should lift prices and they are—though on the periphery. From the charts, not only is our last Litecoin price analysis valid but chances of further higher highs is high.

Notice that even if prices remain pegged inside Sep 13 high lows, yesterday’s candlestick were stable. However, the long lower wick indicates presence of buyers.

If this pace continues as it is, then we expect Litecoin bulls to push prices above $70, triggering conservative Litecoin traders looking to buy on pull backs towards the $110 mark.

Stellar Lumens Price Analysis

On a weekly basis, XLM prices are up six percent.  But considering the last 24 hesitation for further gains above Sep 11 high low, our neutral stance is well on line. From previous Stellar Lumens trade plans, the 7 cents level between 25 cents—capping bulls and 18 cents acting as a floor for Stellar Lumens sellers are important in our XLM price predictions. If anything, our last XLM price analysis is valid. Therefore, unless there is market boosting Stellar Lumens news, then it might be a while before we see breach of these key limits.

Monero Price Analysis

Latest Monero News

  • With a 10 percent week over week gain, Monero market cap is back in the top 10. Undoubtedly, this is exposing XMR to further liquidity—and scrutiny.

Monero Price Prediction

Our Monero trade plan anchored on how prices would react at the $100 psychological level. So far, it’s a relief for Monero bulls as the markets sync with the overall sentiment. After Sep 12 pin bar right off the $100 psychological level, we saw an acceleration of gains in subsequent trading days triggering our set longs at the $110 level.

Currently, our long trades are valid. Although buyers are yet to recoup the aftermath of Sep 5 liquidation, chances are we might see a match towards $150, a major resistance level. Risk-reward ratio is prohibitive for conservative traders to initiate trades on pull back.

Needless, buying opportunities would be available once bulls breach the $150. When that happens, buyers are free to buy on pull backs with targets at $200 and $300.

Cardano Price Analysis

Latest Cardano News

  • Scalability, speed, energy efficiency, ease of use and a thriving community is what the development team behind Cardano wants to create. They are on an innovation overdrive introducing a duo layer system, Marlowe and even Plutus with every step of implementation peer reviewed. Though still in theory and in the second stage of their road map, once the whole project is online and assuming Ethereum is still grappling with scalability issues, Cardano might be given a free pass.

Cardano Price Prediction

With an 11 percent drop in the last week means Cardano prices are still trading below the 7 cents mark. This is cementing our previous Cardano price analysis. Unless otherwise, our Cardano sells are valid. Until after the 8 cents stops are hit, we might see more drops.

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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