NEO, EOS, Litecoin, IOTA and Stellar: Technical analysis of altcoins as of 04/24/2018

We offer a translation of an analytical review from the website newsbtc.com. Today's rapid growth in the rate of some altcoins has mixed up all the cards according to the forecast of pair dynamics. But we offer you the translation in the form in which it was published late yesterday evening. By comparing yesterday's and today's current data, you can see how much reality exceeds the wildest expectations of experienced analysts.

Over the past 24 hours, market gains have been modest to say the least. But still, IOTA continues to grow, adding another 3% to its price. IOTA now has a market capitalization of $5.86 billion. In my opinion, investors should take a closer look at this altcoin. On the other hand, the price of Stellar Lumens fell by 3%, the price of EOS is also falling.

Let's look at the charts:

XLM/USD

Stellar Lumens would top the list of price declines altcoins, if not for Ripple. At the moment, the price of the altcoin is $0.36, over the last 24 hours it has decreased by 3%. It is clear that the bullish pressure is easing.

It is because of this that I expect sellers to be able to push the price towards the 30 cent support line or until the stochastic begins to show a buy signal on the four-hour time frame. Until then, any break below $0.35 will be an invitation for sellers to set their targets at or near $0.30.

IOT/USD

IOTA prices are largely stable following the events in Hannover, where the Fyujitsu and a couple of other IoT proponents. Currently, 5 of the world's biggest brands are IOTA partners, as Deutsche Telekom, Bosch, DXC and possibly Nestle join the list. Therefore, I believe it will show a strong bullish move in the long term.

In my opinion, given the downward selling pressure, a pullback below the 4-hour BB average towards $1.80 would be ideal for buyers. In this case, I would recommend remaining neutral until the stochastic signal appears or until a strong bullish candle appears at our key support levels.

EOS/USD

EOS has managed to show us huge gains in the past weeks. The cryptocurrency market capitalization is $396 billion, mainly thanks to the merits of Bitcoin and EOS is also involved in this.

Regarding current prices, we can say that it was not difficult to predict the growing selling pressure at around $12. The chart shows that prices have been in a state of consolidation over the last 24 hours, during which EOS lost 2%.

This is what we expected. Now, until there is strong selling pressure, I will remain bearish.. I expect a potential reversal to occur between $8 and $9.5. Be that as it may, if prices rise above $12, this will serve as a reversal of the short-term correction.

LTC/USD

As long as Litecoin is not within the top 5, I am confident that it will recover with all its might and will be able to take the place that is rightfully his, although EOS may prevent it from doing so, for example, by releasing EOSIO.

Judging by the charts, we can say that the maximum of April 21st is what buyers are unsuccessfully striving for at the moment. In my opinion, a correction and re-test of $140 could occur in the short term, especially if prices do not rise higher today.

All we need is a strong bearish candle that pushes prices below the BB average. If prices fall below $140, buyers should stock up and wait for prices to reach our bullish target of $180.

NEO/USD

NEO blockchain explorer projects and new wallet from NewEcono Labs are already launched. Despite this, NEO prices cannot break above the $80 mark.

Remember that from our previous technical analysis, the main resistance line for NEO is the $80 mark, and if buyers are unable to push prices above this mark, the price may begin to correct towards the $60 mark.

The likelihood of this will become even higher if the bears push the price below $70 and the April 21 low. I would remain neutral until the stochastic begins to show a buy signal or until there is a strong reaction at our key $60 and $65 support levels.

According to newsbtc.com