Across the sphere, bulls are dominant and that is visible as far as altcoins are concerned. EOS, Litecoin, Stellar Lumens and Cardano are rejecting lower lows. Most noteworthy are movements in ADA. Here, prices are bouncing building bull momentum as prices align with last week’s surges. All in all, we recommend buys at spot prices with targets at immediate resistances.
EOS Price Analysis
Swap.Online, a cross chain hot wallet, is now live. Unlike most hot wallet platforms, Swap.Online did execute atomic swaps between EOS and BTC on its test-net and mainnet. That’s not all, users of the secure hot wallet can secure atomic swaps between BTC, ETH and ERC-20 compliant tokens. At the moment, the web-version of the wallet is available but developers are working on a chrome extension and a desktop version for their clients.
On the charts, EOS prices are evidently finding support. Aside from yesterday’s bar, notice that Sep 25 bear candlestick had a long lower wick signaling entry of bulls in lower time frames. That’s not all. EOS is finding support coincidentally at around key Fibonacci retracement and snapping back to trend as defined by last week’s resurgence.
Going forward, we recommend aggressive traders to load up at spot rates with stops at Sep 17 lows at $4.5. Conservative bull traders can in the meantime enter once there are rallies past $7 as reiterated in previous EOS trade plans.
Litecoin Price Analysis
Generally, altcoin and Litecoin prices are on a recovery path after dropping 90 percent from 2017 highs. Potential reversals have historical backing and at around $50, Litecoin is definitely finding support.
Though prices have been sliding after racing towards $70 last week, this week’s retracement seem to be over. We can analyze individual bars in the last three days and notice that there are no solid volumes backing these declines.
Secondly, Sep 25 pin bar did shore yesterday’s bar right at Sep 17 highs. Because of this, I recommend aggressive traders to begin loading up longs at spot rates with stops at $50. Targets are constant as stipulated in our last Litecoin price analysis.
Stellar Lumens Price Analysis
It appears likely that Stellar Foundation is keen on implementing Lightning Network (LN). LN is scaling solution and it’s in their road map. Since they have been unwavering with releases and hitting milestones, many expect them to launch LN on December 1.
On a weekly basis, Stellar Lumens prices are up 24 percent but still, XLM is struggling with sellers. However, as visible from the chart, XLM sellers are finding floors at 25 cents, the break out level. Like most coins, the last three days bear candlesticks are all characterized by long lower wicks.
Distinctively, prices are also trading inside Sep 23 high low cementing our bullish projection. Nevertheless, we suggest holding off trading until after prices are back above 25 cents. Thereafter, traders can ramp up with stops at 22 cents in line with prior Stella Lumens price analysis.
Cardano Price Analysis
As far as price action is concerned, Sep 19 bar was a break out candlestick and a foundation for recent higher highs. Because last week ended up bullish at the back of abnormally high volumes triggering our stops and cancelling our bear projection, our previous bullish stand is valid.
As such, despite these series of lower lows, it’s likely that prices will snap back to trend and realign and confirm last week bounce off 7 cents.
That’s Cardano’s all-time lows representing a 100 percent drop from 2017 highs. All things constant and in line with last week’s Cardano price analysis, we suggest loading up at spot rates with stops at 7 cents with first targets at 20 cents.
Monero Price Analysis
After bottoming up 42 days ago, Monero bulls have been consistent. Fact is, Monero is technically in an uptrend with the last month support trend line acting as a clear divider separating buyers from sellers. From our previous Monero price analysis mentions, all we need is a breach and close below $100 for sell trades to be valid.
That translates to an inevitable break and close below the main support trend line. on the flip side and in sync with the general mood of the market, Monero bulls will be in control once buyers build enough momentum to thrust prices above Sep 21 highs at $120.
When that happens, risk off traders can begin loading on dips with first targets at $150. If this momentum is consistent and there are clear breaks above $150, then conservative bulls can load on every dip with first targets at $300.
Disclaimer: Views and opinions expressed are those of the author and aren’t investment advice. Trading of any form involves risk and so do your due diligence before making a trading decision.
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