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LTC FINDS RESISTANCE AT $250 AS IOTA CONSOLIDATES

Dalmas Ngetich
Dalmas Ngetich
1 year ago
2 mins read
IOTA consolidates

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As IOTA consolidates, Monero and DASH are bouncing from the minor support trend line and the triple bottoms respectively.

Of the 5 alt coins we are focusing on, NEM is the only token that has gained ground this week.

NEM BUYERS EYEING $1.1

NEM buyers aim for $1.1
NEMUSD 4HR Chart for December 30, 2017

Nothing serious for NEM. Our trade plan is panning out well. From yesterday’s price action, the 38.2% Fibonacci retracement seem to be a perfect spring board for buyers.

On the secondary chart, the stochastics are turning from oversold territory complete with a buy signal. Because everything is going according to our plan, our immediate bull target at $1.1 remains unchanged.

DASH FOUND SUPPORT AT THE TRIPLE BOTTOMS

DASH bounces from triple bottoms
DASHUSD 4HR Chart for December 30, 2017

The charade continues.  Even after DASH tested the triple bottoms with sellers appearing to be in control, buyers jumped in and buoyed prices.

The $1000 round number not only proved sensitive but a perfect trampoline for buyers. Any close above $1200 or the 61.8% Fibonacci retracement level on the upper side will invalidate our bear projection.

Considering the buy signal which has been printed, any pump to confirm the recent bull candlestick in the 4HR chart shall increase odds of bear cancellation.

IOTA CONSOLIDATES

IOTA consolidates
IOTUSD 4HR Chart for December 30, 2017

Even though we can see IOTA found support at $3.3, it is highly likely that a retest will be on the cards in the coming days. Besides the persistent sell pressure, we have to note the influence of the middle BB.IOTA prices have been moving along it in the past 4 sessions.

From the chart, a stochastic buy may print. Therefore, we shall have to see if IOTA price action will follow through and sync with momentum.

Of course, $5 is our immediate resistance and should act as our ceiling in the next couple of day. What is of importance though is the support at $3.3.

We need a strong close below it to confirm sell pressure otherwise this consolidation will render stochastics useless.

MONERO PRICES BOUNCE FROM THE MINOR SUPPORT TREND LINE

Monero bounces off minor support trend line
XMRUSD 4HR Chart for December 30, 2017

A couple of Monero higher highs relative to the lower BB is relieving for buyers. Additionally, the fact that there is support at the minor trend line hints of possible reversal and paring of December 22 losses.

The 61.8% Fibonacci retracement level from where I recommended selling will be our immediate resistance level and assuming prices close above it, then well, we shall have no option but to trade with the trend.

LTC FINDS RESISTANCE AT $255

LTC prices find resistance at $255
LTCUSD 4HR Chart for December 30, 2017

We are definitely in a down trend and should $255 and the minor resistance trend line remain a reliable LTC price tag, then it is likely that the bear pressure we saw yesterday may continue.

There is a little bit of buy pressure yesterday but the fact that buyers are not able to break past the immediate resistance at $255 means we continue shorting with every LTC appreciation.

Conversely, if prices blast through the middle BB and the minor resistance trend line by New Year, then LTC might be on a path towards recovery.

All charts courtesy of Trading View

 

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Dalmas Ngetich
Dalmas Ngetich

Dalmas Ngetich

Dalmas, a seasoned crypto reporter, brings a unique perspective to the industry. His specialization in NFTs, blockchain, DeFi, and blockchain news for NewsBTC, combined with a background in mechanical engineering and over a decade of experience in journalism, has allowed him to craft over 10,000 news and feature articles over the past eight years. His diverse range of topics, including technology, Forex, and finance, reflects his comprehensive understanding of the crypto landscape.

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His technical expertise and analytical skills have been recognized and featured by leading news outlets such as Investing.com, CoinTelegraph, Entrepreneur, Forbes, and other authority sites. Notably, he broke key news, including the Ripple and MoneyGram partnership, cementing his position as a thought leader in crypto.
The news exploded. Over 100,000 people devoured this meticulously crafted report, from seasoned investors to curious newcomers. His analysis wasn't just dry facts and figures; it crackled with insight, dissecting the implications of the partnership and its potential impact on the future of finance.

His deep understanding of the financial markets, technological advancements, and blockchain developments has made him a respected voice in the industry.

Dalmas is also the founder of BTC-Pulse, a crypto news site, further demonstrating his commitment to the field. He firmly believes that DeFi and NFTs are here to stay and will continue to drive financial inclusion.

Coming from Nairobi, Kenya, it is easy to see the source of his inspiration: Across Africa, millions lack access to traditional banks. Remote villages, limited documentation, and high minimum balances create insurmountable barriers.

DeFi, not just Maker or Aave, for example, but think of Bitcoin and USDT, cuts out the middleman. Forget banks with their limitations.
Even so, DeFi isn't a magic solution. The continent still struggles with reliable internet access, and educational campaigns highlighting the benefits of this wonderful solution are insufficient. Moreover, even for those interested, understanding DeFi can look like learning a new language.

Dalmas is here to help make the tech easy to understand and digestible, even for beginners.
The story of DeFi in Africa is still being written. Challenges abound, but the promise of a more inclusive financial future is a powerful motivator. With innovation and collaboration, Dalmas firmly believes that DeFi could become the key to unlocking Africa's full economic potential.
This possibility and its immense value motivate Dalmas to continue breaking key DeFi innovations and more across the globe. His engineering background further enhances his ability to deliver well-thought-out pieces that blend technical insight with clear, impactful reporting.

Beyond his professional achievements, Dalmas is deeply passionate about technology and politics. Policies drive adoption, and being at the forefront and keeping up with how they evolve is crucial for the sphere to mature.

When Dalmas is not closely monitoring the latest crypto events, he can be found in nature, exploring the picturesque countryside, and traveling with his family and friends. His love for adventure and discovery perfectly complements his investigative and reporting skills.
You can connect with Dalmas on X: @Dalmas_Ngetich, or contact him on Telegram @Dalmas_Ngetich.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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