Based on today's price movements, we can say that they can be expected to repeat the movement on February 26
There we could see a couple of tokens break through resistance levels, and some, like EOS, bounced off the breakout line, signaling a new wave of buyers. While this strategy remains in place only as long as support levels remain at current levels, buyers should now look for opportunities to buy on dips.
Such opportunities exist now for IOTA and EOS. LTC needs to go down to around $180 or retest the BB average before I would recommend buying.
Let's take a look at the charts:
XLM/USD
On the four-hour time frame, Lumen fluctuates between $0.30 and $0.38. The upper limit, $0.38, remains our interest level. As long as the consolidation continues, I would recommend remaining neutral.
The longer the horizontal movement continues, the longer we need to hold out, especially based on the daily time frame data. In any case, we should expect a bullish breakout above $0.38.
For more insight, take a look at how the BB is moving almost horizontally. This means there is no volatility, so we should not expect dynamic price movements in the next couple of days.
IOT/USD
The pullback that is visible on the charts did not come as a surprise to us. This happens after every price surge, and after the sharp rise on February 27, correction of excessive growth on smaller time frames was inevitable.
On the daily time frame we see a duplicate movement from the four-hour time frame. The average BB of $1.87 remains a good foundation for bulls to buy on dips. If the price recovers above $1.95, this will mean that buyers will become more active.
EOS/USD
On the four-hour time frame we see a bearish pin bar, indicating the rejection of high prices. The bearish slide is slowly moving towards the average BB.
But the trend is still bullish. Following our previous forecast, any return to $7.9, or the May 27 lows, should be a catapult for EOS buyers.
If the current daily candle is bullish, then I would recommend buying with stop losses below $8 or the BB average and waiting for $10, as before..
LTC/USD
It is clear that the bears are still in control of LTC prices, so far today the price is down $30 from previous highs. For now, I would advise buyers to wait for prices to test the average BB on the daily time frame before entering into trades.
If instead there is a surge above $225, then bulls may resume long entries as a trend reversal occurs. But until this happens, be patient.
NEO/USD
I repeat that the $130 mark is our starting point. Due to yesterday's bearish movements, buyers may place long positions today.
Our lowest level of support is the line at $110, this is the low of February 26th. Any rapid price drop below $120 would be a signal to cancel our bullish forecast.
According to https://www.newsbtc.com
You May Also Like
Analysis of ADA and IOT as of November 29, 2018
Despite the recovery of the altcoin market, the price of many of them has still not broken through resistance levels - IOTA is one of them. According to our previous plan, we should take operational positions in the Cardano (ADA/USD) market, since it will have bullish support - high trading volumes - if the conditions we set are met.
Market overview of the main cryptocurrency pairs for the current week (from 12/17/2018 to 12/23/2018)
In today's review, as always, we summarize the past week and analyze the overall price dynamics.
