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Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

Altcoins Price Analysis: EOS, Litecoin, Stellar Register Double Digit Losses

Dalmas Ngetich
Dalmas Ngetich
1 year ago
4 mins read
technical analysis litecoin LTC

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Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
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After yesterday’s deep losses, EOS, Litecoin, Cardano and Stellar lumens are back to previous key support lines. Odds are we might see bear trend resumptions as sellers step up, crashing important support lines. Because of this, we recommend sells for Monero and in ES. However we suggest patience for Litecoin and XLM until after there are losses below supports at $50 and 18 cents respectively.

Let’s have a look at these charts:

EOS Price Analysis

CypherGlass, a block producer in the EOS network, now enables users to create EOS accounts for less than $1.

https://youtu.be/KENmslfOGtY

The procedure is easy to follow and with EOS Lynx, account creation takes less than one minute.

EOS Price Analysis

Like the rest of the market, EOS is bearish. Though we were neutral waiting for solid close above the main resistance and buy trigger line at $7 in line with our last EOS price analysis, yesterday’s 12 percent drop did cancel our stand. As it is, prices are trading below the minor support trend line as bears stream back in line with Sep 5 bears.

In our last EOS trade plan, we reiterated the importance of bulls closing above that high volume bear engulfing pattern all because of this failure of buyers to build enough momentum to reverse those losses. From an effort versus result point of view, this was negative for bulls as bears were technically in charge. Moving on, we suggest selling at spot with stops at $6 and first targets at $4 and later $1.5.

Litecoin Price Analysis

LoafWallet is calling on Beta testers it prepares for the next release. The platform is gearing for direct fiat purchases of Litecoin shifting over from CoinBase to Simplex. This is because some team members were complaining that they weren’t receiving commissions from purchases all due to regulatory concerns around working with non-US entities. Through Simplex, users from around the globe would easily purchase anywhere between $50 and $20k upon registration.

Litecoin Price Analysis

Back to price and it’s a blood bath. A single, high volume bear bar did obliterate stops. Though we are yet to see dips below $50, odds are it shall happen today. Either way, bear intentions are clear. Simply because of this depreciation, our last Litecoin trade plan no longer holds. Going forward, we recommend selling once a single bar prints below $50 with first targets at $30.

Stellar Lumens Price Analysis

Stellar Lumens Price Analysis

After periods of consolidation inside Sep 23 high low, Stellar Lumens bears did break below the lower limit of the wedge ushering in sellers.

As per our trade recommendations, all we needed were clean rallies above 25 cents triggering short term bulls aiming at 30 cents. However, that didn’t pan out and now not only are XLM prices below 25 cents but yesterday’s 14 percent loss mean our previous XLM buyers are now null.

Though it’s tempting to liquidate at current points, traders can resume their sells once there are losses below 2018 lows at 18 cents. This may print today but once it does, then XLM should load up and aim for first targets at 8 cents.

Cardano Price Analysis

IOHK has released Sep 2018 updates of the Shelly Project.

Cardano Price Analysis

A 10 percent slide in the last day mean ADA prices are back to the main support line crashing stops in the process. Earlier, our ADA trade recommendation anchored on gains above the minor resistance trend line and 9.5 cents.

But, contrary to expectations, the influx of bears did negate our projection and odds are ADA prices might end up closing below 6 cents printing new ATLs.

Due to yesterday’s events, it’s likely that prices might fluctuate and trade within tight ranges in response to yesterday’s rapidity. That’s why we recommend holding off trading until after there are clean prints below 6 cents inviting for sells.

Monero Price Analysis

Monero Price Analysis

After shedding 10 percent yesterday, our previous Monero trade plan is firm and valid. Our bearish calls came after bears broke below the main support line in late Sep and thanks to yesterday’s break out following a consolidation, there is opportunity for sellers to ramp up.

Notice that Monero prices could end up trading below the all-important psychological $100.

Nonetheless, considering the volume accompanying this decline, traders can begin selling at spots with first targets at $70 as per our last highlights.

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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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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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

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