• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
  • Bitcoin Casino ReviewsTry
No Result
View All Result
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
  • Bitcoin Casino ReviewsTry
No Result
View All Result
NewsBTC
No Result
View All Result
Altcoins Technical analysis
Nexo Logo

EOS, Litecoin, Stellar Lumens, Tron, IOTA Technical Analysis: Hold On, It is Normal For Prices To Drop–Before Rising

Dalmas Ngetich by Dalmas Ngetich
4 years ago
in Uncategorized
Reading Time: 3 mins read
Advertisement

Many are speculating that the SEC decision might have triggered this sell frenzy but what we should also realize is that most coins were dangling right at the edge waiting for a collapse. All altcoins caved in, registering double digit losses as EOS and IOTA lead the loss making pack. Fortunately though, at the moment price isn’t a priority. This is because as long as these projects find use and therefore value, to recover they shall—but for now, we should brace for impact!

Let’s have a look at these charts:

EOS Technical Analysis

EOS Technical Analysis
EOS Daily Chart by Trading View

Technically our EOS shorts have been activated in line with our last EOS technical analysis. The question now remains: how low can we get? For once, I suggest that EOS might first test 2018 lows at $4-our first bear target before finding the much needed support.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

Thereafter, we expect an EOS recovery back to Q2 highs at $9 or there about. Considering yesterday’s 21 percent drop, we suggest selling on pull backs with targets at $4 and stops at $7.

Litecoin (LTC) Technical Analysis

From the News

Perhaps it’s the US SEC postponement of their decision on VanEck-SolidX Bitcoin ETFs that is causing market jitters. It may also be that whales are finding opportunity to unload their coin holdings simply because delays are not often good news in the securities market. May be it’s not and prices are finding fair value but either way Litecoin (LTC) prices are trading below 2018 lows for the first time this year.

Technical Analysis

Litecoin (LTC) Technical Analysis
Litecoin Daily Chart by Trading View

A 16 percent, high volume drop below $70 means Litecoin (LTC) is now trading below 2018 lows. It also means LTC sellers are successful and have confirmed that bear break out pattern we talked about in our last Litecoin (LTC) technical analysis.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!

With this, the official third stage of the bear break out pattern, the trend resumption phase is live and in line with our projection, there is optimism for buyers looking to ramp up Litecoin for cheap at or around $50—Q4 2017 lows.

Stellar Lumens (XLM) Technical Analysis

Stellar Lumens (XLM) Technical Analysis
Stellar Lumens Daily Chart by Trading View

Accompanying the cancellation of Stellar Lumens buy projection is an 18 percent dip below 22 cents, our previous buy trigger line and support. As it stands, we shall retain a neutral view on price action as we wait for reaction anywhere at 18 cents and 201 cents.

Coincidentally, that’s not only June lows but 2018 lows and area of strong support. Thereafter, depending on the new found trajectory which is largely reliant on sentiment then, we can buy or short XLM with first bear targets at 15 cents and later 8 cents as our last Stellar Lumens (XLM) trade plan dictates.

Read our comparison of 50 different crypto casinos. Find out who has most generous bonuses, best UX, knowledgeable customer support and best provably fair games.

Tron (TRX) Technical Analysis

Tron (TRX) Technical Analysis
Tron Daily Chart by Trading View

Like XRP and Litecoin, Tron is trading well below 2018 lows and after losing 18 percent in the last day, there is definitely a high volume close below 2.5 cents, our first bear target now resistance.

In line with our previous Tron (TRX) technical analysis, we suggest unloading TRX on every high in lower time frames with targets perhaps at January 24 lows-ideally! After all, January 24 candlestick has been confining prices for the better of the year and so it makes sense for prices to retest those lows first before stabilizing and gaining.

My sober recommendation for sellers who are in the trade already is to lock in some profits and ride with the bear trend.

IOTA (IOT) Technical Analysis

IOTA (IOT) Technical Analysis
IOTA Daily Chart by Trading View

Following that break below 90 cents on Aug 4, our sell triggers were activated and at current spot rates, our first bear target at 65 cents has been hit.

However, IOTA sellers seem to be stepping up and after dipping 20 percent in the last day, we suggest trading with the trend.

As such, selling on every high in lower time frames with next targets at 32 cents–Q4 2017 lows is ideal.

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.

Tags: eos technical analysisIOTA (IOT) Technical AnalysisLitecoin (LTC) Technical AnalysisStellar Lumens (XLM) Technical AnalysisTron (TRX) Technical AnalysisVanEck-SolidX Bitcoin ETFs SEc Decision
Tweet123Share196ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
Dalmas Ngetich

Dalmas Ngetich

Interested in new Tech

Related Posts

Bitcoin Miners Suffer Over $1 Billion Loss In Q2 2022

Bitcoin Miners Suffer Over $1 Billion Loss In Q2 2022

49 seconds ago
Brazillian Brokerage Firm Introduces Trading For Crypto Assets Amid Bear Market

Brazillian Brokerage Firm Introduces Trading For Crypto Assets Amid Bear Market

2 hours ago
TA- Origin Protocol (OGN) Struggles – OGN Eyes Double Digit Gain

TA- Origin Protocol (OGN) Struggles – OGN Eyes Double Digit Gain

2 hours ago
Ethereum Price

Will The Ethereum Merge Drive The BTC Ratio To New ATHs?

3 hours ago
TA- Price Of Ethereum Faces Rejection At $2,000: Are bulls Still In Control?

TA- Price Of Ethereum Faces Rejection At $2,000: Are bulls Still In Control?

4 hours ago
3 Best New Crypto Pairs Launching on DEXs This Week & Month

3 Best New Crypto Pairs Launching on DEXs This Week & Month

5 hours ago

Premium Partners

Top Brokers

PrimeXBT

PrimeXBT

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
7BitCasino

7BitCasino

Review · Visit
Punt Casino

Punt Casino

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bspin

Bspin

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit

Celebrities Back IBAT at Battle Infinity Launch Party

August 16, 2022

Go Around the World with 1xBit and Win Crypto

August 16, 2022

Upcoming MetaShooter NFT sale on the biggest platforms on 17th of August! Hidden gem just revealed!

August 16, 2022

Investors Should Buy These Cryptos Today: Uniglo (GLO), Bitcoin (BTC) And Fantom (FTM)

August 16, 2022

Gnox (GNOX) Causing Polygon (MATIC) And Avalanche (AVAX) Investors To Bridge Over After Presale 100% Sold

August 16, 2022

ABOUT US

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

COMPANY

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

LINKS

Crypto Prices from Nomics

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

© 2021 NewsBTC. All Rights Reserved.

  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play Games
  • Bet & Win
  • Bitcoin Casino Reviews

© 2021 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.