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NewsBTC 2018-02-23 05:42:13

NewsBTC

Bears all over guys and so far, all altcoin gains from last week’s bullish run has been reversed. LTC, EOS, NEO, Lumens and even DASH are on a down trend testing last week’s lows.

Let’s have a look at these charts:

XLM/USD

Lumens Technical Analysis
XLM/USD Daily Chart for February 23, 2018

So far, Lumens sellers are trending right at last week’s lows and that’s a 100% retracement as far as price action is concerned.

Now, the thing is this week has been largely bearish-we can see that and track from what has been happening over the past couple of days.

If we zoom into the 4HR chart we notice that bear momentum is waning as candlestick are beginning to print away from the lower BB with stochastics at over sold territory.

This doesn’t mean much and isn’t our basis for going long or short but should be hinting especially now that we are looking for buy signal.

If any bullish engulfing candlestick prints and drive prices above $0.38, then I recommend longs if not and prices close below $0.30 today, then we better look for sell opportunities because that will be a bear break out below this ascending wedge.

DASH/USD

DASH/USD Technical Analysis
DASH/USD Daily Chart for February 23, 2018

Like the Lumens, DASH is on a down trend and if we view price developments in the 4HR chart then we notice that sellers are actually stepping on gas as they band along the lower BB.

In the daily chart however, we are at a cross road and wont recommend buy or sell unless there is a definitive follow through of yesterday’s bear pressure.

Remember, from previous analysis the middle BB and price around $620 remains a key price tag since it is right at previous bullish break out point and we are yet to know if this will turn out to be a retest or bear resumption despite last week’s bullish pressure.

In my view, buyers need prices to pick up and if there is a close above $620, then that would be a double bar reversal pattern or a retest right at the middle BB.

EOS/USD

EOS/USD Technical Analysis
EOS/USD Daily Chart for February 23, 2018

Because of yesterday’s bear confirmation, we remain neutral for the time being until we see what happens to EOS value at around $6 and $7.

Those are 2018 lows and should definitely influence prices in the short term.

The middle BB will continue being our first layer of resistance with $9.5 being our bull trigger assuming there is a strong reaction at $7 in the coming sessions.

LTC/USD

LTC/USD Technical Analysis
LTC/USD Daily Chart for February 23, 2018

From the chart, sellers are definitely in charge and as long as yesterday’s LTC bear pressure continue, then chances of the middle BB and $160 being hit is high.

Our strategy is on course and what remains today is if there will be a reaction at $180. If prices slow down and any bullish engulfing candlestick prints anywhere around support in the 4HR chart, then bulls can buy and spread out their entries.

Otherwise any surge past $160 will invalidate our initial bullish break out strategy.

NEO/USD

NEO/USD Technical Analysis
NEO/USD Daily Chart for February 23, 2018

Guys, all we can say is NEO is continuing with the shed. So far, $10 is off from yesterday’s lows and as long as bears continue with the swing, then chances are they shall test the break out line at $100  before a possible trend resumption happens.

All charts courtesy of Trading View

The post appeared first on NewsBTC.

Altcoin Analysis: NEO, EOS, LTC, IOT and Lumens

NewsBTC

There is a broad base correction back as we are seeing in pairs as NEO, EOS, LTC and even Lumens.

DASH remains resilient but there is room for downside especially if we see any depreciation below $620.

Selling looks like a very short term bet as we anticipate correction back towards break out levels. By doing so, prices would be completing the retest phase which is so common after any form of break outs.

Let’s have a look at these charts:

XLM/USD

XLM/USD Technical Analysis
XLM/USD Daily Chart for February 22, 2018

There are two important price developments that should influence price movements in the next sessions. One has to do with that breach and close below the middle BB and $0.40 in the daily chart.

The other is that bear candlestick banding along the lower BB in the 4HR chart. If we extrapolate our view and consider our previous analysis, then we realize that prices might actually fall back and retest $0.30 before we see some trend reversal bars printing in the 4HR or there about.

After all, as we have say time and time again, the trend in higher time frames take precedence. Confirmation of last week’s bull pressure is important and that is why any form of Lumens higher highs between $0.30 and $0.34 shall be a basis of long entries for aggressive buyers.

DASH/USD

DASH/USD Technical Analysis
DASH/USD Daily Chart for February 22, 2018

Relative to other tokens, DASH is actually resilient.

When we check price action, we notice that prices are actually resisting bear pressure and so far, despite clear sell pressure in other high cap tokens, prices are still hovering above $620, the middle BB.

In line with this, it means buyers are still in charge even if we have this clear stochastic sell signal following period of horizontal consolidation.

We are obviously in a bullish break out and we shall stick to buying on dips but for late entrants, proper entry should be at around $770. That’s slightly above February 16-20 consolidation or the 61.8% Fibonacci retracement level.

EOS/USD

EOS/USD Technical Analysis
EOS/USD 4HR Chart for February 22, 2018

The drop has been rapid and as it is, prices are back to the break out level.

Of course, if we consider our previous analysis, then we are bullish if and only if there is a bounce at around $8 and $8.0.

If not, and say sellers drive prices lower then we shall cancel this bullish forecast and stay out of this trade as we wait and see what happens at February 6 lows of around $6.

LTC/USD

LTC/USD Technical Analysis
LTC/USD Daily Chart for February 22, 2018

This is turning out to be a classic bullish break out pattern and we are right on the second phase-the retest.

In this case, even though our stops below $230 were hit as per yesterday’s analysis, the bearish engulfing candlestick means sellers might push prices right back to $160-$180 on the down side.

That is right at the middle BB in the daily chart where LTC buyers broke above the liquidating effect of the 20 period MA.

Now, as it is, sellers might drive prices lower in the course of the day and that is why bears ought to ride with the tide back to $160 or there about.

NEO/USD

NEO/USD Technical Analysis
NEO/USD 4HR Chart for February 22, 2018

Referring to yesterday’s price analysis, NEO sellers did slice through $130 like it didn’t exist. At the moment, the most likely destination looks to be $110 as per our earlier forecast.

All charts courtesy of Trading View

The post Altcoin Analysis: NEO, EOS, LTC, IOT and Lumens appeared first on NewsBTC.

Altcoin Analysis: NEO, EOS, LTC, IOT and Lumens

NewsBTC

Apart from this LTC explosion, most altcoins especially NEO and EOS are moving lower. Our IOTA ceiling at $2.2 is proving significant and keeping buyers away.

In my view and sticking strictly with price action, our buy views remain valid as long as key support levels repulse bears in the coming sessions.

In that case, I will be watching $130 and $110 in NEO chart and $8.5 at EOS to see if there will be any rejection of lower lows today.

Let’s have a look at these charts:

XLM/USD

XLM/USD Technical Analysis
XLM/USD Daily Chart for February 21, 2018

Lumens prices are shifting gear and it seems like sellers are now pushing prices down.

In my view, especially if we consider Fibonacci retracement tool and paste it at last week’s high low then chances are prices might move below $0.35-the 38% retracement level and back towards $0.30 which is about last week’s lows and our main support line.

The reason why we anticipate this bear trend is the failure of prices to close above $0.50-a level which we need if there is a follow through of last week’s buy pressure.

As it is, we shall hold on to our bullish projection as we wait and see at what happens at $0.30 now that bear candlesticks are beginning to band along the lower BB as bears test the middle BB in the daily chart.

IOT/USD

IOT/USD Technical Analysis
IOT/USD Daily Chart for February 21, 2018

So far, there is this common hint of shift of momentum as stochastics shows and despite our optimism, any close below the 20 periods MA in the daily chart at around $1.8 might as well quash this positive view.

Regardless, we must acknowledge this slow IOTA price action as movement remains within February 18 high lows.

Now that that we have this stochastic sell signal from deep the overbought territory, will there be confirmation of yesterday’s bearish candlestick? If yes, then we must see a convincing close below $1.8 otherwise, every low is another loading zone for buyers looking for IOTA discounts.

EOS/USD

EOS/USD Technical Analysis
EOSUSD 4HR Chart for February 21, 2018

Relative to February 18 candlestick, we have a zero net price movement if we consider EOS price movement over the past 2 or 3 days.

The thing is, buyers are in charge but not convincing enough since action is below $9.5-a key level over the past few days/weeks.

Now guys, to get a clear picture, let’s consider the 4HR chart and this is where you can see how prices are behaving.

We are still within a break out pattern and as long as bulls maintain prices above the support trend line, buyers are in charge despite the sine price action pattern forming along the support trend line.

Any reaction at around $8.5-$9 will determine the short to medium term pattern of this token.

LTC/USD

LTC/USD Technical Analysis
LTC/USD 4HR Chart for February 21, 2018

LTC prices are on a bull run and following that close above the bull flag, the logical thing is to buy on dips with ideal support at around $230.

NEO/USD

NEO/USD Technical Analysis
NEO/USD 4HR Chart for February 21, 2018

Prices are still in consolidation mode and sellers are likely to test $115 or so in the next couple of hours if anything is to go by price action in the 4HR chart.

Remember, $130 is key in the short to medium term and if buyers cannot sustain NEO above it, then chances are sellers might push prices back to $110 or there about. That’s the support line-previous resistance trend line-and by doing so, prices would be in line with bull break out pattern strategy-rampant in recent weeks.

See those lower lows after prices failure to close above $150? Those are bears and any butter cut below $130 then our bets are strongly at $110.

All charts courtesy of Trading View

The post Altcoin Analysis: NEO, EOS, LTC, IOT and Lumens appeared first on NewsBTC.

Altcoin Analysis: NEO, EOS, LTC, IOT and Lumens

NewsBTC

Most altcoins moved lower but that is normal especially if we consider how robust prices have been over the past 4-5 trading days. That’s what happening to EOS and NEO especially.

In any case, buyers should be gearing to buy on dips-and average down they position with every lows these liquid coins prints.

Let’s have a look at these charts:

XLM/USD

XLM/USD Technical Analysis
XLMUSD Daily Chart for February 19, 2018

Some little bit of positivity here, Besides Bittrex, Lumens is now available at Kraken with USD as quote. Several prices show a positive correlation between price and the availability of tokens at more than one high trading volume exchange.

In this case, I recommend taking long opportunities in lower time frames every time a stochastics buy signal prints from the oversold territories.

As it is, we can see that slide of Lumens prices towards the middle BB at around $0.40 but in my opinion, prices might actually recover and trend higher today.

If not, then we shall be waiting for pull backs towards $0.30 and that is actually ideal buying zones since it acts as our short term support.

IOT/USD

IOT/USD Technical Analysis
IOTUSD Daily Chart for February 19, 2018

It’s obvious that IOTA prices are actually bouncing off this mid-range resistance line at $2.2.

Of course the overall mood is positive and technically, our recommendation is to pick longs when prices fall back towards the break out level at around $2 or better still the middle BB.

In my view, I don’t recommend going long until after there is a strong close above $2.2 in the coming session.

That is when maybe we can start spreading out longs but my ultimate break out point is above $3 when bulls are in charge and trading above this strong $1 resistance range.

EOS/USD

EOS/USD Technical Analysis
EOSUSD Daily Chart for February 19, 2018

Even though we have sellers pushing down prices at $9.5, I remain positive and inclined to think that EOS will find support in due course and sync with last week’s positive price recovery.

In coming sessions, the middle BB and $9.5 remains significant and as we said before, conservatives should wait for a strong close above $11.5 or there about to initiate long with any pullback towards $9.5.

At the moment, sellers might actually follow through today despite pockets of buy pressure from yesterday’s long lower wicks.

If prices close below yesterday’s lows, then there is a high chance that EOS sellers might drive prices to $8.5 before a recovery happens. Buyers have to be on standby and buy when that discount avails itself in the 4HR chart.

LTC/USD

LTC/USD Technical Analysis
LTCUSD Daily Chart for February 19, 2018

Surprisingly, following the explosion of LTC bullish pressure on February 14, prices have been moving within a tight $25 range or so with barriers at $240.

This is common with such break out pattern and as per our plan on February 17, it is likely that prices might move lower and complete the 2nd phase of a bull break out pattern, the retest before buyers resume normal business as per last week’s pattern.

Anyhow, isn’t that a clear 3 –bar bull reversal pattern visible in the weekly chart? In my view and this is actually my recommendation. I retain my positive projection as we build up to February 26 LitePay launch, LTC may find support at around $180-$200. That’s just around the 61.8% Fibonacci retracement level and the middle BB.

Alternatively, you can fine tune entries in the 4HR chart and wait for a stochastic buy before loading longs. If not, buy stops above $255, the 2nd Fibonacci extension level in the weekly chart may just do the trick if we remain optimistic with price.

NEO/USD

NEO/USD Technical Analysis
NEOUSD Daily Chart for February 19, 2018

Yesterday’s NEO prices were pretty much lower and in our view, sellers might continue pushing prices down.Remember, in our previous analysis, $130 continues to be a strong region of resistance.

However, since we were trading a break out trade, it is likely that this correction back to $110-$120 might be on the cards especially if price breaks and trade below the 20 period MA in the 4HR chart.

Even though we cannot rely on stochastics, we can get to know the strength of bears by looking at the spread-between %k and %d of the stochastics.

 

The post Altcoin Analysis: NEO, EOS, LTC, IOT and Lumens appeared first on NewsBTC.

Altcoin Analysis: NEO, EOS, LTC, IOT and Lumens

NewsBTC

It is likely that most altcoins will complete a 3-bar bull reversal pattern known as a morning star right at key support levels in the weekly chart.

LTC, Lumens and EOS/USD will lead the charge and offer wonderful buy opportunities next week.

My advice is for buyers to wait for meaningful entries next week and not to buy at peaks at current prices.

Let’s have a look at these charts:

XLM/USD

alt coin XLM/USD Technical analysis
XLMUSD Daily Chart for February 17, 2018

In the coming sessions, trading Lumens is pretty much straight forward.

As we can see from the chart, prices are trending higher and with stochastics signals widening, it is likely that prices will continue rally-as it is doing at the moment, meaning every pull back in lower time frames is another clear buying opportunity.

Let’s not forget that we are trading from a top-down approach. If this week’s end up bullish, then there will be a sweet confirmation of a 3-bar reversal bull pattern-the Morning Star in the weekly chart.

Therefore, this means any lows that prints in lower time frames is another opportunity to buy on dips with bull targets at $0.70.

IOT/USD

alt coin IOT/USD Technical analysis
IOTUSD Daily Chart for February 17, 2018

Today’s candlestick looks like a sold block with no lower and upper wick-a marubozo-and this is no rocket science, it means buyers are strongly in charge.

Remember, upon checking yesterday’s candlestick we note that prices did slow down ending up bearish.

But as per our trading strategy, our recommendation is to buy on every pull back-especially to the middle BB. If we zoom to the 4HR chart, we note that prices bounced off from that line.

In this case, any higher highs is remains important from IOTA bull perspective and today we wait and see how prices react at $2.2, the mid range of this solid resistance zone.

EOS/USD

alt coin EOS/USD Technical analysis
EOSUSD Daily Chart for February 17, 2018

The reaction before today’s breach of the all important middle BB at around $10 has been nothing short of impressive.

Notice that before today’s bull bar, prices did stall along $9.5-our main resistance line now support with restriction on the upside by the 20 period MA.

Besides this bullish development in the main chart, the stochastics continue to hint of bullish pressure continuation.

With every diverging %k and %d, $9.5 should be a spring board and a loading zone for buyers more so if there is a pull back.

LTC/USD

alt coin LTC/USD Technical analysis
LTCUSD Daily Chart for February 17, 2018

Now, this week’s LTC will end up bullish not just from a technical point of view but also from supportive fundamentals-LitePay and others.

Technically, we remain bullish and trade according to a bull break out strategy. Despite prices being on a roller coaster and riding along the curves of the upper BB-note the banding, somehow, there must be a retrace back to the middle BB or even lower to $180 in the coming sessions.

That’s what we expect of such strong break outs-it happens all the time. As such, it won’t be a good idea to go long at the moment.

After all, the stagnation in the 4HR hints of bearish pressure and that’s why buyers should stay on the side lines until next week.

NEO/USD

alt coin NEO/USD Technical analysis
NEOUSD Daily Chart for February 17, 2018

This is exactly what we want to see and now that prices are now above $130, position traders should refine their entries and buy with every stochastic buy signal in the 4HR chart.

At the moment, we shall treat the middle BB and $130 as potential support with ideal loading positions at around $120.

 

All charts courtesy of Trading View

The post Altcoin Analysis: NEO, EOS, LTC, IOT and Lumens appeared first on NewsBTC.

Altcoin Analysis: NEO, EOS, LTC, NEM and Lumens

NewsBTC

Most alt coins are recovering and the best demonstration of this radiant alt coin price action is LTC/USD pair.

Even though there had been hints of possible bullish breakout, the explosion north was impressive. As such, buyers can start fine tuning long entries in lower time frame.

Apart from LTC, there are some positive developments in NEM, NEO and EOS which is trading above $9.5.

We are far from recommending entries in IOTA unless of course there is a surge past $3-the upper limit of this super thick resistance zone and consolidation.

Let’s have a look at these charts:

XLM/USD

alt coin XLM/USD Technical analysis
XLMUSD Daily Chart for February 15, 2018

Some pretty nice Lumens price action and while we had a slight correction before yesterdays retest of the middle BB, chances of a close above $0.50 is high.

A look at the secondary chart shows that buy momentum is increasing and there is an obvious reflection of that when we consider February 14 bull candlestick.

Now, our trade plan is simple assuming there is a bullish follow through: buy on dips in lower time frames with stop loss just below February 13 lows.

IOT/USD

alt coin IOT/USD Technical analysis
IOTUSD Daily Chart for February 15, 2018

We have these series of IOTA’s higher highs in the daily chart and while it looks likely that prices might even close above our main resistance line-the middle BB and $2 today or in consequent sessions, the only assurance for buyers and scalpers in that case is if bulls maintain prices above $2.

The good thing is that IOTA buy momentum is increasing and that is obviously supportive especially for buyers looking for quick profits.

Anyhow, from our previous analysis, conservatives should wait for clear breach and close above the upper limit of this super resistance zone between $1.43 and $3.

EOS/USD

alt coin EOS/USD Technical analysis
EOSUSD Daily Chart for February 15, 2018

After a tepid session, we are seeing some encouraging movements in EOS. From our analysis point of view, our first bull triggers were set above $9.5 and already buyers are trading above this level.

Now, going forward, what is important especially today is if prices will actually break and close above the middle BB.

Obviously, there is increasing bull momentum just like all other alt coins we are tracking but where prices end up today can either make or break this pair.

The moment we see prices trading say at $11.5, bulls can begin fine tuning their entries in lower time frames and if there is a strong rejection at the middle BB, we can begin fading this short term bullish move and aim at $5.5.

LTC/USD

alt coin LTC/USD Technical analysis
LTCUSD Daily Chart for February 15, 2018

This is what we have been waiting and after periods of excruciating accumulation, LTC prices are now above $170.

As such, our previous analysis dictates that we start looking for long entries in lower time frames and that is what I recommend today.

NEO/USD

alt coin NEO/USD Technical analysis
NEOUSD Daily Chart for February 15, 2018

Like most alt coins, there is this tinge of positivity and while this is awesome, we recommend NEO buyers to execute their longs once there is a close above the middle BB or $130.

Yesterday, as we can see, there were attempts for a close above the main resistance line but still buyers couldn’t cater enough momentum.

Chances are, NEO bulls may follow through and breach that line but before then, positional buyers should stay out of this trade.

 

All charts courtesy of Trading View

The post Altcoin Analysis: NEO, EOS, LTC, NEM and Lumens appeared first on NewsBTC.

Altcoin Analysis: NEO, EOS, LTC, NEM and Lumens

NewsBTC

Most alt coins are recovering and the best demonstration of this radiant alt coin price action is LTC/USD pair.

Even though there had been hints of possible bullish breakout, the explosion north was impressive. As such, buyers can start fine tuning long entries in lower time frame.

Apart from LTC, there are some positive developments in NEM, NEO and EOS which is trading above $9.5.

We are far from recommending entries in IOTA unless of course there is a surge past $3-the upper limit of this super thick resistance zone and consolidation.

Let’s have a look at these charts:

XLM/USD

alt coin XLM/USD Technical analysis
XLMUSD Daily Chart for February 15, 2018

Some pretty nice Lumens price action and while we had a slight correction before yesterdays retest of the middle BB, chances of a close above $0.50 is high.

A look at the secondary chart shows that buy momentum is increasing and there is an obvious reflection of that when we consider February 14 bull candlestick.

Now, our trade plan is simple assuming there is a bullish follow through: buy on dips in lower time frames with stop loss just below February 13 lows.

IOT/USD

alt coin IOT/USD Technical analysis
IOTUSD Daily Chart for February 15, 2018

We have these series of IOTA’s higher highs in the daily chart and while it looks likely that prices might even close above our main resistance line-the middle BB and $2 today or in consequent sessions, the only assurance for buyers and scalpers in that case is if bulls maintain prices above $2.

The good thing is that IOTA buy momentum is increasing and that is obviously supportive especially for buyers looking for quick profits.

Anyhow, from our previous analysis, conservatives should wait for clear breach and close above the upper limit of this super resistance zone between $1.43 and $3.

EOS/USD

alt coin EOS/USD Technical analysis
EOSUSD Daily Chart for February 15, 2018

After a tepid session, we are seeing some encouraging movements in EOS. From our analysis point of view, our first bull triggers were set above $9.5 and already buyers are trading above this level.

Now, going forward, what is important especially today is if prices will actually break and close above the middle BB.

Obviously, there is increasing bull momentum just like all other alt coins we are tracking but where prices end up today can either make or break this pair.

The moment we see prices trading say at $11.5, bulls can begin fine tuning their entries in lower time frames and if there is a strong rejection at the middle BB, we can begin fading this short term bullish move and aim at $5.5.

LTC/USD

alt coin LTC/USD Technical analysis
LTCUSD Daily Chart for February 15, 2018

This is what we have been waiting and after periods of excruciating accumulation, LTC prices are now above $170.

As such, our previous analysis dictates that we start looking for long entries in lower time frames and that is what I recommend today.

NEO/USD

alt coin NEO/USD Technical analysis
NEOUSD Daily Chart for February 15, 2018

Like most alt coins, there is this tinge of positivity and while this is awesome, we recommend NEO buyers to execute their longs once there is a close above the middle BB or $130.

Yesterday, as we can see, there were attempts for a close above the main resistance line but still buyers couldn’t cater enough momentum.

Chances are, NEO bulls may follow through and breach that line but before then, positional buyers should stay out of this trade.

 

All charts courtesy of Trading View

The post Altcoin Analysis: NEO, EOS, LTC, NEM and Lumens appeared first on NewsBTC.

Altcoin Analysis: NEO, EOS, LTC, NEM and Lumens

NewsBTC

Besides Lumens, other high cap altcoins under our radar were bearish and moving within February 12 high lows.

Will there be replication of Lumens break above today? Well, it depends on if these stochastic buy signals are reflective of underlying buy pressures that could actually lift prices past resistance levels from which the 20 period MA plays a big role.

For now, I recommend buying Lumens in small proportions and spreading out entries until after there is a close above $0.50 in the coming sessions-assuming that happens today.

Let’s have a look at these charts:

XLM/USD (Lumens)

alt coin Lumens Technical analysis
XLMUSD Daily Chart for February 14, 2018

After periods of higher highs and consolidation, Lumens prices are now trading above our bullish trigger line of 40.40.

Of course, we can begin looking for long entry signals in lower time frames but as we have said time and time again, the middle BB is a significant resistance line that is worth waiting for a close below or rejection.

Those prices will be around $0.50 or the 38.2% Fibonacci retracement line and when that happens, I will recommend fine tuning longs in the 4HR chart as we bulls aim for $0.70 in the short term and $1 in the medium term.

IOT/USD

alt coin IOT/USD Technical analysis
IOTUSD Daily Chart for February 14, 2018

Yesterday’s prices were oscillating within February 12 high lows and even if I don’t recommend positional entries in this pair, scalpers can have a shot or two in the short term.

First, for that to happen, bulls should be active and if possible push prices past the third layer of support-the middle BB, at $2.

If that happens today, then buyers can be in a pole position to tune entries in lower time frames and take long signals only because anyway, stochastics in the daily chart is lifting from the oversold territory and could possibly buoy buyers today and in the coming sessions.

EOS/USD

alt coin EOS/USD Technical analysis
EOSUSD Daily Chart for February 14, 2018

If we consider February 12 candlestick and bring yesterday’s price action into the picture then we realize that EOS net movement is about zero.

Yesterday, bears drove prices lower  and despite the previous day being bullish, prices were pretty much confined within that bull candlestick.

Now, these swings are not profitable and few scalpers can actually turn in a profit without the risk of over trading. This is why patience is paramount.

Basing our reasons on yesterday’s analysis, we need a close above $9.5 and middle BB if prices are to rally and a bear drive below $6, the double bar reversals if sellers are to take lead in the coming trading days.

LTC/USD

alt coin LTC/USD Technical analysis
LTCUSD Daily Chart for February 14, 2018

Of course there is a direct relationship between yesterday’s close above the middle BB and the way stochastics are turning from the oversold territory if we check the secondary chart.

This is pretty good from a buyers perspective and all that remains is a surge past $170 as per our LTC trade plan.

If that happens today, buyers can begin picking out buy signals in lower time frames from tomorrow.

NEO/USD

alt coin NEO/USD Technical analysis
NEOUSD Daily Chart for February 14, 2018

Like EOS, nothing much can be said of NEO.

There is obvious price limitation and as long as NEO remains within February 12 high lows, yesterday’s analysis will still hold true.

 

All charts courtesy of Trading View

The post Altcoin Analysis: NEO, EOS, LTC, NEM and Lumens appeared first on NewsBTC.

Altcoin Analysis: NEO, EOS, LTC, NEM and Lumens

NewsBTC

Unexpectedly, altcoins inched higher yesterday even after bears seem to be driving prices lower.

From the charts, we can see that LTC pair is moving along the middle BB and finding it hard to breach and close above $170 which from our analysis remain a strong resistance level and a buy trigger.

Let’s have a look at these charts:

XLM/USD

alt coin Lumens Technical analysis
XLMUSD Daily Chart for February 13, 2018

From yesterday’s price action, it’s clear that buyers were in the driving seat but rather than closing above the main resistance line, we are seeing a micro-consolidation over the past 48 hours or so. This is on top of the visible upper wick which hints of sell pressure.

Regardless of what happens, all we need for our trading purposes is a break out in either direction.

Of course we can take advantage of the increasing bull momentum to skew our view and root for buyers but then again we are in a deep bearish momentum and fundamentals are not that helpful either.

Anyhow, our set up is pretty much the same as our previous analysis and $0.40 remains our bull trigger.

IOT/USD

alt coin IOT/USD Technical analysis
IOTUSD Daily Chart for February 13, 2018

If we check IOTA price action using the top-down approach then we realize that last week’s bears weren’t as rapid as they were on week ending February 3.

As such, bear confirmation is clear but those long lower wicks are buyers pushing prices in lower time frames and that translates to yesterday’s bulls. Now, here’s a thing with IOTA.

Yes, the general mood is slowly improving and leaning towards buyers but there’s a lot of resistance before say prices trend above $3 in the daily chart.

First we must see buyers surging past the middle BB-our immediate resistance, then $2 and then lastly $3.

From there we can begin looking for buying opportunities with any pullback to any of these levels acting as perfect buying levels.

EOS/USD

alt coin EOS/USD Technical analysis
EOSUSD Daily Chart for February 13, 2018

EOS prices are slowly inching back towards $9.5 and that is what we want to see from a buyer’s perspective.

Well, taking hints from yesterday’s analysis, all we need is break out and that could do us a lot of justice.

Yes, we are seeing some marginal gains following that double bar reversal pattern on February 5 and 6 but then again, buyers can’t surge past surge our inter-range resistance level at $9.5.

Because of this, we cannot really go on and buy/sell not until there is a break out or a retracement back to $6.5.

LTC/USD

alt coin LTC/USD Technical analysis
LTCUSD Daily Chart for February 13, 2018

From the charts, it’s clear that LTC prices are still moving below our first layer of resistance-the middle BB and that is despite the positive momentum as the stochastics shows.

Picking out tips from our previous analysis of this pair, all that we need is a bullish spike above $170 or repulsion of higher prices as bears push prices back below $100.

This $70 range is what is important for us in the short to medium term.

NEO/USD

alt coin NEO/USD Technical analysis
NEOUSD Daily Chart for February 13, 2018

Despite the higher lows and long upper wicks, there is clear rejection of higher highs at $130.

Anyhow, that shouldn’t be a surprise because after all, that is where the middle BB and the 38.2% retracement level form a confluence.

This makes this $10 gap between the flexible resistance line and $130 a special zone which if buyers manage to get past then could form a perfect anchor for buyers in consequent sessions.

In my view, there is nothing much that we can do other than wait as per yesterday’s analysis.

 

All charts courtesy of Trading View

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Altcoin Analysis: NEO, EOS, LTC, NEM and Lumens

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There is a clear stochastic buy signal turning from deep the oversold territory in NEO, LTC, Lumens, NEM and EOS/USD charts and this of course means buyers are now entering the trade.

If this momentum amounts to something, then we expect prices-especially in LTC/USD to surge past $170 as buyers look to buy at every low.

Let’s have a look at these charts:

XLM/USD

alt coin XLM/USD Technical analysis
XLMUSD Daily Chart for February 10, 2018

From yesterday’s Lumens price action, we can see that bulls were actively pushing prices higher and that is an awesome development.

Now, what we need is for this week’s candlestick to end up strongly and that means buyers must close above our buy triggers at set at $0.55 or the key Fibonacci retracement line at 61.8%.

In fact momentum wise, we expect that to happen now that momentum is shifting from oversold territory with a clear buy signal after yesterday’s bullish candlestick.

If that happens, then on February 11, buyers can begin buying on any retracement in their lower time frame of choice of which I recommend the 1 or 4HR charts.

XEM/USD

alt coin XEM/USD Technical analysis
XEMUSD Daily Chart for February 10, 2018

Now, our buy triggers are now active and we should be looking to spread out our long entries today.

Notice that after yesterday’s bullish candlestick, NEM prices ended up trending above the 61.8% retracement level complete with a stochastic buy signal turning from deep down the oversold territory of the stochastics.

Often, such developments is triggers bull surges as historical prices shows and therefore we shall not brush off NEM prices testing the middle BB today or even before the end of the week.

If there is nothing that can be liquidation-or out of the ordinary fundamental development, then I recommend buying at every low or retest of $0.55.

EOS/USD

alt coin EOS/USD Technical analysis
EOSUSD Daily Chart for February 10, 2018

EOS prices are bullish and buyers are testing our main resistance line at $9.5.

Of course, this is in line with our yesterday’s forecast and all that we want is a confirmation of yesterday’s bullish pressure and as the week concludes a close above $9.5 is desirable.

In my opinion, prices are likely to snap back and continue with the main bull trend now that we have this shift of momentum from bearish to bullish following that clear stochastics buy signal.

Remember, it’s a guide and not a reason to buy or sell because it is a lagging indicator. Anyhow, I recommend buying on every dip in the 1 or 4HR charts.

LTC/USD

alt coin LTC/USD Technical analysis
LTCUSD Daily Chart for February 10, 2018

LTC is $10 shy from our main resistance zone of $170.

Since we now have that strong bullish candlestick, all we need today is a thrust across this level before we start picking out buy signals in subsequent sessions. It’s that simple.

Furthermore, apart from this bull candlestick, bullish momentum is increasing with a clear buy signal.

NEO/USD

alt coin NEO/USD Technical analysis
NEOUSD Daily Chart for February 10, 2018

Little by little, NEO continues to inch higher and that is despite yesterday’s sell pressure in lower time frames.

Nothing much has changed and today, we shall see if the doors for a close above the middle BB and $130 are open.

Scalpers can look for buy opportunities and place their stops at around $100 or yesterday’s lows.

 

All charts courtesy of Trading View

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