• Advertise
  • Submit a Press Release
  • About Us
NewsBTC
Bitcoin & cryptocurrency news
Sensei Inu Logo
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
    • Gambling
      • Crypto Casinos
      • Real Money Casinos
    • Casinos not on Gamstop
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play GamesTry
  • Win 8.88 BTCTry
  • Play Casino GamesTry
  • Play FinanceTry
No Result
View All Result
Breaking News: BREAKING: Valkyrie Secures Green Light For Ethereum Futures ETF, Trading Launching Tomorrow
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
    • Gambling
      • Crypto Casinos
      • Real Money Casinos
    • Casinos not on Gamstop
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play GamesTry
  • Win 8.88 BTCTry
  • Play Casino GamesTry
  • Play FinanceTry
No Result
View All Result
Bitcoin News
No Result
View All Result
Breaking News: BREAKING: Valkyrie Secures Green Light For Ethereum Futures ETF, Trading Launching Tomorrow
Altcoins Technical Analysis
Sensei Inu Logo

EOS, Litecoin, Tron, IOTA, Stellar Lumens Technical Analysis: Altcoins Bleeding Under Bear and Hackers Attack

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

Crypto exchanges-regardless of their database location-are having a rough time with hackers. After several South Korean and Japanese attacks, Bancor got exploited and $12.5 million worth of BNT was used to withdraw ETH. It’s definitely bad press and sellers are spearheading this on-slaughter. So far, it’s double digit losses for EOS, IOTA, Tron and Litecoin.

Let’s have a look at these charts:

EOS Technical Analysis

EOS Technical Analysis
EOS Daily Chart by Trading View

Isn’t it startling to know that Block One realize that they are powerful and actually don’t care about that. They have 100 million EOS tokens under them and should they begin using that to vote then EOSIO- despite all their calls of running on the ideals of blockchain-would just be another centralized database with Block1 calling the shots.

"If necessary Block One will vote."

– @bytemaster7 #eosio $eos @eos_io @go_eos @eosnewyork @EOS42io @eosdublin @eosiodetroit @EOSAsia_one @EosArgentina @EosSweden @EOS_IO_HK @eosriobrazil @eosdfw @eoscafe @eoseoul_kor @EOSREAL_IO @eos_UNION @eosamsterdam @GenerEOSAus pic.twitter.com/Fa8cuAtC3V

— EOS Tribe (@EOSTribe) June 24, 2018

I mean, it will even be easy for them to determine who get voted in as a BP and who gets the boot. Many are therefore expressing their disappointments saying Block One would no longer be that neutral third party. Well, they are right because how would they even know and pick BPs which they claim share the “same core values and ideals”? As far as the community knows, there is no laid out criteria for making that determination.

Back to price and EOS is sliding much to the relief of dApp developers keen on utilizing the blockchain for their own advantage. After that strong bearish engulfing pattern on July 9, sellers are now back in charge and invalidating our previous bullish stand. My suggestion is to either sell on pull backs today or wait for a break out trade below our immediate support at $7 with first targets at $4 as we trade with the general bear trend. Stops would be above yesterday’s highs at $8.3.

Litecoin (LTC) Technical Analysis

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

It’s turning out that exchanges-centralized or decentralized are not safe from hackers as Bancor found out on July 9. Charlie Lee, the founder of Litecoin, weighed in on the issue throwing jabs at Bancor that it is nothing more than a centralized entity.

A Bancor wallet got hacked and that wallet has the ability to steal coins out of their own smart contracts. ?‍♂️

An exchange is not decentralized if it can lose customer funds OR if it can freeze customer funds. Bancor can do BOTH. It's a false sense of decentralization. https://t.co/22UYygIhEF

— Charlie Lee [LTC⚡] (@SatoshiLite) July 10, 2018

What we came to realize is that $12.5 million worth of BNT tokens were stolen from Bancor and not that the blockchain was compromised. Apparently, hackers exploited a weakness of one wallet used to upgrade smart contracts and withdrew ETH.

As Charlie Lee is reviewing Bancor hacks, his own coin is facing the wrath of sellers. In the last day alone, LTC is down 10 percent meaning sellers should trade with the trend and short with targets at $50. Before then, it’s would be better to trade a break out and that means selling once prices break below $70, our main support line. Ideal stops would be at $80.

Stellar Lumens (XLM) Technical Analysis

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

Like other coins, XLM is also on a losing trend and so far, it’s down  10 percent and trading below July 2 lows at 18 cents following yesterday’s bearish engulfing pattern. Because of that, my suggestion is to short on every retracement today with stops at 23 cents and targets at 15 cents and later 8 cents as laid out before.

Tron (TRX) Technical Analysis

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

As the market bleeds, Tron (TRX) holders can smile especially if they had their coin at Binance. Withdrawals are now possible after three weeks or so of withdrawal suspension due to maintenance. While at it, SR election is in progress and holders can now vote for their favorite SR from the more than 50 candidates who have lined up.

? Want to keep up with the latest Super Representatives updates? Visit our new Explorer https://t.co/t8LzYz2QQx and click on Open team page ? Already more than 20 #TRONSR candidates have listed!

— TRON Foundation (@Tronfoundation) May 21, 2018

On the charts, TRX is down 11 percent and keeping up with losses in other coins. Because of this, our trade plan is still valid and my recommendation is to short on every high with stops at 3.5 cents and bear targets at 2.5 cents. 2.5 cents is a level of main support and is a key support line for Tron which might after all slow down sellers.

IOTA (IOT) Technical Analysis

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

After that Stitching attack on July 6, IOTA is yet to recover. Fact is, it is down 11 percent in the last day and sellers are now in sync with the general trend as they retest 2018 lows at 90 cents. Well, because of the last two days price action, our bullish plans are now invalid.

Currently the confirmed transaction ratio in iota is practically 0 because someone is stitching the side tangle to the main tangle and this apparently breaks regular nodes ability to select tips.

Let's just enjoy this moment. pic.twitter.com/PEvmkdT3JY

— Sarah Jamie Lewis (@SarahJamieLewis) July 7, 2018

My trade plan would be simple: wait for prices to break below 90 cents and short on every correction with stops at $1. Ideal bear targets would be at 65 cents, the next level of support.

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: Altcoin Price Chartseos technical analysisIOTA (IOT) Technical AnalysisIOTA Side-TangleIOTA Stitching AttackIOTA TangleLitecoin (LTC) Technical AnalysisStellar Lumens (XLM) Technical AnalysisTron (TRX) Technical Analysis
Tweet123Share196ShareSend
Dalmas Ngetich

Dalmas Ngetich

Dalmas is a crypto reporter covering NFTs, blockchain, DeFi, and blockchain news for NewsBTC. He’s part of a team of talented team working on bringing latest crypto development across the board. Dalmas is also the ex-founder of btc-pulse.com, a crypto news outlet. Dalmas has over 10 years of experience covering Forex, general finance, technology, and blockchain developments. His work and that of his partners has been featured in top news outlets including investing.com, CoinTelegraph, Entrepreneur, Forbes, and other authority sites. He’s passionate about technology and politics. When he’s not keeping tabs on crypto events, you’ll find him out in nature, exploring and traveling with family and friends. You can follow Dalmas on Twitter @Dalmas_Ngetich or ping him on Telegram @Dalmas_Ngetich

Related Posts

Ripple

XRP Price Threatened As Ripple Unlocks 1 Billion Coins

52 mins ago
Bitcoin Cash

Bitcoin Cash Bulls Charge: 13% Price Rally Driven By Fresh Demand

6 hours ago
Ether Futures

FTX Exploiter Transfers 5,000 ETH Ahead Of Ether Futures ETF Launch

20 hours ago
XRP

Crypto CEO Very Bullish On XRP Price, Sets Make Or Break Point

21 hours ago
Ethereum ETF

Ethereum ETF: Valkyrie Halts Purchase Of ETH Futures Contracts

23 hours ago
Cardano

The Most Impressive Highlights From The Cardano Development Report

1 day ago

Premium Partners

Play Finance

Top Casinos

BitStarz

BitStarz

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Trust Dice

Trust Dice

Review · Visit
mBit

mBit

Review · Visit

Press Releases

  • Investing in Trading 212: Is the Risk Worth the Reward?

    1 day ago
  • Bitcoin Spark: Cross-Chain with Polygon, BSC, and Cosmos

    2 days ago
  • Explosive Surge: Curve DAO and Everlodge on a Wild Pumping...

    2 days ago
  • The DeFi Big Three: Solana (SOL), Chainlink (LINK), and...

    2 days ago
  • Plus 500 Reviews Get Moderate Risk Rating From Trading...

    2 days ago

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.

Cryptocurrency news

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

Technical Analysis

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

Company

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

© 2023 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
    • Gambling
      • Crypto Casinos
      • Real Money Casinos
    • Casinos not on Gamstop
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play Games
  • Win 8.88 BTC
  • Play Casino Games
  • Play Finance

© 2023 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.