While EOS and Tron-which is now out of the top 10, slow down, others are finding an opportunity to expand. In the last 24 hours alone, Litecoin and IOTA have registered impressive gain. In fact the latter is the top performer adding 17 percent in the last 24 hours and continuing with its chart up. As before, Litecoin remains my long term buy and at current valuation, buyers have a perfect opportunity to load up at a discount.
Let look at these charts:
EOSUSD (EOS)
So depending on how you look at it, I really think this four percent slide in EOS valuation is something that will benefit the coin in the long term. Safe to say, our mild bearish skew is coming out just nicely as per yesterday’s analysis. Because of this, we expect prices to find support anywhere between $14 and $18 today or anytime this weekend.
LTCUSD (Litecoin)
At long last, you can now buy your Reddit Gold using Litecoin and Ethereum. This is what Litecoin needed. Some sort of a jolt, a nudge and the result has been that strong bullish break out above $150.
Reddit plans to support Litecoin payments. ? #PayWithLitecoin https://t.co/bkLFCN5HVI
— Charlie Lee [LTC⚡] (@SatoshiLite) May 3, 2018
Regardless of this exciting price movements and/or events, there is still some strong under-valuation in Litecoin that I strongly believe that current prices are a discount. Nonetheless, those who didn’t get in at $150 can still buy and trade with the weekly trend which is also bullish complete with stochastic buy signal turning from deep the oversold territory.
XLMUSD (Stellar Lumens)
No news but the same consolidation and mid range accumulation continues. Despite all this, Stellar Lumens is actually registering very minor losses as it is barely one percent down in the last 24 hours. All in all, we still hold short term bearish skew with main support at 40 cents.
On the other hand, we can also trade a break out if Stellar Lumens buyers push prices beyond 50 cents in the days to come. Better still, you can neglect all these propositions and wait for a stochastic buy signal to print before ramping Stellar Lumens longs.
NEOUSD (NEO)
Like Ethereum, NEO is now catching up. We have a couple of projects launching in NEO blockchain including Asura (ASA), Switcheo, Guardium and many more. I mean, this is simple supply demand-supply dynamics and as the number of projects increases so will NEO demand increase.
Inevitably, this will push prices up. We are already seeing this. Now, like Binance, UpBit shall going forward airdrop GAS to all NEO holders every Friday throughout May 2018. Then again, City of Zion now has a bounty program. Of course, with a $50,000 reward for any developer or group of security audit who can check and or improve NEO’s dBFT protocol, we expect many parties to take part.
#Binance Has Distributed April $GAS ( $NEO )https://t.co/ENHxhdoSxZ pic.twitter.com/oVboM3NH2c
— Binance (@binance) May 3, 2018
On the chart, NEO is up four percent and with a market cap of $5.65 billion it is now trending within the top 10. Technically, NEO is ripe for buys and as such aggressive buyers can consider buying this coin at current prices with reasonable stops at $75 or this week’s lows.
On the flip side, conservatives can wait till NEO bulls push prices above $90 in the coming days before going long. Either way, we shall be trading with the weekly chart which is overly bullish with a stochastic buy signal (just like in the 4HR chart) in place.
IOTUSD (IOTA)
In the last 24 hours, IOTA is the top performer gaining 17 percent and pushing its market cap to $7.11 billion. Anyway why not? This coin is solidifying its stand as a pioneer and a facilitator of a world where IoT dominates.
As such, many investors consider IOTA a long term investment and it is not surprising that many exchanges as Huobi are realizing this and listing IOTA further fueling the current rally.
Huobi just launched deposits for #IOTA @iotatoken Trading starts in 24 hours at 10:00 AM CEST! ? @Huobi_Pro https://t.co/Ss8wCS5WUN pic.twitter.com/ua8dP7iI9Z
— Milan Dugovič ?? (@milancheck) May 3, 2018
Considering our previous stance, traders should consider looking for under valuation in lower time frame and buy IOTA. Immediate targets are fixed at $3 and $4.5.
