The price of Bitcoin still greatly influences the price of altcoins. Despite the decline in prices, there are several interesting projects that could change the situation. For example, Lightning Network
However, projects like the Lightning Network exist not only for Bitcoin. IOTA developers are currently working on the Trinity wallet. On the other hand, LTC is still facing a huge amount of criticism after Charlie Lee's statements, and the decline in LTC prices continues. Bears are targeting the $100 mark. Let's look at the charts:
XLM/USD
The price activity of the last 24 hours has disappointed me very much, the price has decreased by 0.98%.
Yes, if you compare price activity with the stochastic signal, you can clearly see a divergent bullish pattern, however, even despite this, the price is not growing at all.
I would recommend waiting until the stochastic sell signal moves away from overbought territory. Before this, any lows mean that sellers are getting closer to their target of $0.15.
IOT/USD
Our initial plan was to look for opportunities to sell if IOTA prices went higher. Yes, the company is trying to release the Trinity wallet as soon as possible, which will expand the choice of traders and users. Of course, this is good news, given the 0.10% increase in price over the past 24 hours.
Despite this, the bears are dominant. While the stochastic shows a great buy signal, I would encourage sellers to look for shorting opportunities. As in our analysis yesterday, traders should target the $1 mark.
EOS/USD
According to CoinMarketCap, EOS saw a slight gain of 4.4% despite prices moving and close above the 20 MA.
Even though the price action appears to be retracement-like, I will view each high as an opportunity to sell. This means that even if the bulls are able to close the price above the support line, the $7.5 mark will still remain a key resistance line for us.
LTC/USD
Unlike traditional stocks and securities, cryptocurrencies have elements of hype. Charlie Lee tried to ride on hype and what was the result? Over the past 24 hours, the LTC price has fallen another 6.5%.
This means that our first support level of $135 has already been broken, and according to our forecast, the next target for sellers is the $100 mark..
NEO/USD
On the four-hour time frame, price movements are negative, sellers essentially dominate, targeting the $50 mark.
Despite this, I would recommend buying NEO in that if the minimums are not reached, and especially if prices do not go even lower today.
According to https://www.newsbtc.com
You May Also Like
Bitcoin, Ethereum, XRP price analysis as of 12/03/2021
The market is consolidating in the area of average prices, but today the bears may increase pressure.
Analysis of the situation in the cryptocurrency market from August 22 to August 27, 2022
Bitcoin has been in uncertainty for the past few days. What will happen next? KickEX analysts consider either $21,800 as a positive target for movement, or, in the event of a breakdown and consolidation below the $20,800 level, a continuation of the movement to levels below $19,000.
