NEO, EOS, Litecoin, IOTA and Stellar: Technical analysis of altcoins as of 04/20/2018

There are several fundamental factors that could influence today's price action. If Bitcoin and EOS can show decent growth, then prices could skyrocket

As statistics show, Stellar Lumens grew the most this week - its increase was 66%, followed by IOTA with 43%. Buying Litecoin, EOS and NEO can bring huge profits in the short to medium term.

 Let's look at the charts:

XLM/USD

Each digital technology has its drawbacks. When it comes to cryptocurrencies, this is a great way for experienced hackers to make money. According to a report from the Stellar Foundation, $618 million was lost in 2018. The lion's share of this amount is attributed to the CoinCheck hack.

The price of Stellar Lumens is moving according to our previous technical analysis. In my opinion, we must prepare for the fact that the XLM price is about to reach new highs. After reaching $0.40, buyers should target the $0.50 mark and the 38.2% fibonacci.

IOT/USD

After the news about Amazon, anything is possible. I wouldn't be surprised if we soon hear news from Google or Facebook about implementing blockchain technology. And this is strange, since it downplays all the achievements in the field of decentralization. On May 6, 2018, IOTA will release a new version of their wallet, which will fix significant flaws.

If you look at the opportunities for buying IOTA on small time frames and compare them with our previous technical analysis, I think it is safe to say that buyers can make serious profits. After all, it has increased by 8% in the last 24 hours, and by 43% in the last 7 days. It's also currently 13 cents higher than last week's high, so I'd recommend buying.

EOS/USD

Remember, EOS is still in the crowdfunding phase. Although the company has already raised more than $2 billion, the project has not yet launched. 

I will repeat what I said yesterday. EOS is still showing an average level of consolidation and it would be logical to trade along with the trend. The price of EOS has already risen by 5% and all we have to wait for is for the price to break through the $9.5 or even $10 mark - the 50% fibonacci - before placing buy orders.

In this case, stops should be placed below the $8 mark and target $16. Regardless of short-term price fluctuations, as July approaches and the EOS mainnet launch approaches, we should be able to see significant growth..

LTC/USD

There are no fundamental changes except that the price of Liteocin has increased by another 20%. The price action of this altcoin is in line with our previous forecast.

Following yesterday's price rally, Litecoin price showed a bullish breakout on the four-hour time frame, with bullish candles now above the BB average. These are all signs that Litecoin will only gain in price in the coming weeks, so buying dips on small time frames is a good trading strategy.

NEO/USD

Technically, the altcoin is at a crossroads, and if you need proof this - you can look at the candle on April 19th. Even with prices above the $70 mark, conservative traders should wait for further evaluation.

Traders who entered early could target the $90 mark or $110 based on our previous technical analysis. 

According to www.newsbtc.com