Technical analysis of altcoins NEO, EOS, LTC, IOTA and Lumens

Of the five altcoins we're tracking, I'd recommend buying Lumens and EOS given recent price movements

There is also a slight recovery in LTC, but as before, we need a strong confirmation that will mean prices have crossed the $225 mark and we can start placing longs. A similar trading plan applies to NEO. 

Let's look at the graphs:

XLM/USD

Same as before, $0.30 remains our key line. We see prices reacting at this level and with each high we can say that we are getting closer to our $0.40 mark.

This is exactly what we need and this is what is quite likely to happen. When this happens, we should carefully set up entries for Tuesday February 6th, and buy on dips, on the hourly time frame, or at the $0.35-$0.38 retest level. 

IOT/USD

Like March 3, prices continue to move along the BB average. Notice how the top and bottom BBs come together to form a squeeze. As history shows, any squeeze can signal a breakout in any direction. We've seen this many times before. I think buyers should buy IOTA at these low prices and aim for $2.2-$3.

The price of IOTA has fallen 70% from its previous high. The correction was deep, so the chances of recovery are quite high in the short and medium term. 

EOS/USD

If you look at the four-hour time frame, you can see price movements that support buyers. 

We have to remember that the base of support is at $7, but whether to place long entries or remain neutral today will depend on how the EOS bulls behave. 

I think position traders will have to wait to see if prices move higher. If they rise, and this continues until March 6th, they may start looking for long entries with each retest of the average BB at $9 in the four-hour time frame. 

LTC/USD

On the daily time frame we do not see strong price movements. Apart from volatile prices on the 4-hour time frame, LTC does not show price failure below the BB average or rise above $225, which would be consistent with our previous trading plan..

For clarification, we will look at the four-hour time frame. There we see that prices are moving within the triangle, with strong support at the minor support line. We need to see a rise above $225 in the coming sessions for us to say that buyers have raised prices. If this does not happen, and sellers continue bearish pressure, then the main support line could very soon be at $180. 

NEO/USD

On the daily time frame we can see a double reversal candle near the support line. In my opinion, long or short entries can be recommended at levels above $140 or below $100. Until then I would remain neutral.

According to https://www.newsbtc.com