#IOT/USD Price Analysis: Altcoins Register Minor Gains, Still Bearish

Neutral #IOT/USD Price Analysis: Altcoins Register Minor Gains, Still Bearish

The stability of altcoins should be another opportunity to sell according to trend definition of Oct 11. Subsequent confirmations of Oct 29 did place the lid on buyers even though prices are leveling out. But, it could get worse if losses print today. On the reverse side a stream of boosting fundamentals could propel pairs as IOT/USD, LTC/USD and even EOS/USD above key resistance levels relieving coin holders.

Let's have a look at these charts

EOS/USD Price Analysis

Market participants are beat out. It's not by bears but by the indecision which is draining momentum from bulls as well as sellers.

Going forward, the lack of movement in the last 24 hours mean our last EOS/USD trade plan is valid. As such there is nothing much that we can recommend as far as trading goes.

Because of that we shall hold on to neutral position only trading if there is a convincing break and close above $4.5 on the downside. However, since the market correction has been deep, chances are we may see a correction above Sep 2018 highs and later $7 triggering both set of bull traders.

LTC/USD Price Analysis

Traders at Bokka Exchange can now trade several coins including LTC against TrustToken, TUSD. TrustToken is a stable coin and an alternative to USDT.

We are pleased to announce that you can now trade BTC, LTC and ETH against @TrustToken TUSD on Bokka - the mobile crypto exchange #crypto #cryptocurrency #altcoin #blockchain #bokka #exchange #bitcoin #btc #tusd https://t.co/wB5ncFYf47 pic.twitter.com/J3uakb7Gq1

- Bokka Exchange (@BokkaExchange) October 30, 2018

Tether Limited the company behind USDT or Tether is facing a lot of headwinds ranging from banking problems and audit of their reserves. Unresolved, traders and coin holders are skeptical if the USDT: USD peg holds as the company claims. On the other hand Bokka Exchange is a mobile crypto-to-crypto exchange that supports six coins and 13 popular ERC-20 tokens.

In the meantime, what we have in the daily chart is a clear tussle between buyers and sellers. Since we are net bearish on LTC/USD pair with safe stops at Oct 29 highs, it will take a lot of convincing before we revert back to bulls.

From our price analysis, sellers should be unpacking LTC on every high because bears are technically in charge from an effort versus result point of view.

On the contrary, gains above $55 clear this position. In fact it could kick-start a path towards 2018 price recovery in line with Fibonacci Retracement rules.

XLM/USD Price Analysis

In a shaky market, Stellar Lumens is generally stable. It's up less than 0.5 percent in the last day and bearish in the last week. But, even as prices stall, our neutral stand will quickly shift to bullish first if there is a follow through today reversing Oct 29 losses.

Then aggressive traders can load up on dips in lower time frames with modest targets at 30 cents. Secondly, if the first trade condition goes through then momentum could lead to surges above Oct 15 high low reasserting bulls in an effort versus result point of view.

Add that to rising volumes and gains of last Sep and continuation in mid-Oct could spur a market wide reversal above a ranging market in Q4 boosting battered bulls.

ADA/USD Price Analysis

The plunge below 7 cents on Oct 29 did invite sellers trading according to Oct 11 trends. Despite news of Cardano developments and updates from development, sellers are in pole position. In fact they could turn in a profit should they short on every high in lower time frames.

The reason for this projection is that events of Oct 29 did thrust ADA/USD below minor support at 7 cents. This level double up as Oct 15 lows meaning there has been complete reversal of Oct 15 high volume bar.

However, conservative traders should be in the side line. That is until after there are break outs above the minor resistance trend line and 9.5 cents according to our last ADA trade plan.

IOT/USD Price Analysis

By adding 1.2 percent in the last day, IOTA did outperform all coins in the top 10. Most of these coins hold constant valuation in the last day as prices move horizontally. Regardless, break outs above the minor resistance trend line could feed bulls triggering short term aggressive traders to buy on dips with first targets at 55 cents.

From the way recent candlesticks are set, this is likely to print out today thanks to the yesterdays higher highs confirming the bull bar of Oct 31. Moving on, our last IOT/USD trade plan is valid and once bulls rally past 60 cents, risk-on traders can buy on pullbacks with first targets at 90 cents and higher.

On the contrary, the bulls' failure to rally above the resistance trend line points to underlying sell momentum. In that case they should unload at spot with stops above Oct 29 highs with first targets at 40 cents and later 30 cents.

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.

11/02/2018 / 02:00:00 Source: newsbtc

1 BTC=$3,665.68
1 XRP=$0.3292
1 ETH=$122.90
1 XUC=$1.99
1 EOS=$2.54
1 BCH=$129.50

News Feed 50

Cryptopotato Neutral - Bakkt Futures by ICE is Now Supported by World’s 23rd Richest Man Li Ka-Shing read more.
01/09/2019 / 08:47:17
Themerkle Neutral - NEO Price Gains 12% Despite Malcolm Lerider Departure read more.
01/09/2019 / 08:35:28
Ccn Neutral - Indian Police Make Fourth Arrest in $70 Million Crypto Scam read more.
01/09/2019 / 08:33:42
Cryptonewsreview Neutral - Kraken defends trading of Ethereum Classic, attacks XRP, angers Ripple tech boss read more.
01/09/2019 / 08:32:20
Dailyhodl Neutral - One of the Richest Men on Earth Backs Bitcoin and Crypto, Plus Ripple and XRP, Tron, Stellar, Ethereum, Litecoin, VeChain, IOTA: Crypto News Flash read more.
01/09/2019 / 08:05:10
Ambcrypto Neutral - Litecoin [LTC/USD] Technical Analysis: Cryptocurrency to move along with the bulls on a long run read more.
01/09/2019 / 08:00:38
Newsbtc Neutral - Crypto Market Wrap: NEO Jumps Two Places With 13% Gain read more.
01/09/2019 / 08:00:10
Cryptoglobe Neutral - ShapeShift CEO Says Crypto Is a ‘Harsh Mistress’, Lays Off 1/3 of Staff read more.
01/09/2019 / 07:40:00
Coindesk Neutral - Security Token Offerings: A Way Past the SEC’s Incomplete Crypto Guidance? read more.
01/09/2019 / 07:15:47
Ethereumworldnews - Could Russian Rumors Be Reviving NEO? Surges 15% Today read more.
01/09/2019 / 07:01:58
Ambcrypto Neutral - Tron [TRX] grows steady with 9% hike; Litecoin [LTC] holds strong despite strong resistances read more.
01/09/2019 / 07:00:37
Newsbtc Neutral - Bitcoin Price Watch: BTC Buyers Not Out of Woods Yet read more.
01/09/2019 / 07:00:22
Ethereumworldnews Neutral - Tron (TRX) Rally Looks Real, Price Could Test $0.0350 read more.
01/09/2019 / 06:45:59
Ccn Neutral - Ripple CEO to Critics After Obtaining 200 Clients: Banks Will Use XRP read more.
01/09/2019 / 06:36:40
Cryptonewsreview Neutral - Neo continues to climb, continuing its excellent start to 2019 read more.
01/09/2019 / 06:28:44
Cryptoglobe Neutral - Gold Backed Crypto Exchange Offers Safe Haven for Crypto Investors read more.
01/09/2019 / 06:20:50
Newsbtc Neutral - #Crypto Market Update: Stellar (XLM), Bitcoin Cash, Tron (TRX), ADA Price Analysis read more.
01/09/2019 / 06:00:54
Ambcrypto Neutral - Bitcoin IRA launches turnkey, white-label solutions for enterprise businesses read more.
01/09/2019 / 05:45:21
Cryptonewsreview Neutral - Litecoin founder on the 51% attack problem read more.
01/09/2019 / 05:41:24
Bitcoin.Com Neutral - Venezuela Decrees Crypto Operators Must Pay Taxes in Cryptocurrencies read more.
01/09/2019 / 05:30:28
Cryptonewsreview Neutral - Google is causing problems for a Bitcoin wallet provider read more.
01/09/2019 / 05:28:51
Cryptonewsreview Neutral - Cryptocurrency exchange cuts back staff, admits mistakes read more.
01/09/2019 / 05:25:45
Coindesk Neutral - The Case for a 2020 Bitcoin Bull Run read more.
01/09/2019 / 05:25:42
Dailyhodl Neutral - Tron (TRX) Rallies 34% in One Week, Gears Up With BitTorrent Crypto Token and Binance Launchpad read more.
01/09/2019 / 05:11:52
Coingape Neutral - Bitcoin less Centralized Compared to Ethereum and Bitcoin Cash- Long Hash Research read more.
01/09/2019 / 05:10:45
Bitcoinerx Neutral - New Sanctions Could Push Russia to Dump the US Dollar in Favor of Bitcoin read more.
01/09/2019 / 05:00:49
Newsbtc Neutral - #Ripple Price Analysis: XRP Eyeing Upside Break Above $0.37 read more.
01/09/2019 / 05:00:11
Newsbtc Neutral - #Ethereum Price Analysis: ETH Consolidating, Buyers Could Take Control read more.
01/09/2019 / 04:08:28
Bitcoinist Neutral - State of Emergency read more.
01/09/2019 / 04:00:50
Ethereumworldnews Neutral - #Litecoin (LTC) Price Analysis: Slow But Steady Climb read more.
01/09/2019 / 03:51:39
Cryptoglobe Neutral - Malta's Government 'Completely Silent' About Crypto Development 'Over Holidays', Nation's Opposition Leader Claims read more.
01/09/2019 / 03:50:00
Ethereumworldnews Neutral - #Bitcoin (BTC) Price Analysis: Another Attempt to Break Higher read more.
01/09/2019 / 03:31:02
Bitcoin.Com Neutral - Central Bank Official: Regulators Are Hindering the Development of Cryptocurrencies read more.
01/09/2019 / 03:10:36
Cryptoglobe Neutral - Brave Announces Growth Stats: Surpasses 5.5 Million Monthly Active Users read more.
01/09/2019 / 03:00:00
Cointelegraph Neutral - Square’s Cash App Blocks Account of Social Media Site Gab’s Founder: Report read more.
01/09/2019 / 02:45:00
Ccn Neutral - President Trump Makes His Case for a Border Wall as Economy Hangs in the Balance read more.
01/09/2019 / 02:16:53
Cryptoglobe Neutral - Who Will Win the Race to be the “Crypto Valley of Asia”? read more.
01/09/2019 / 02:00:00
Dailyhodl Neutral - Bakkt – Why a Successful Launch Could Boost the Cryptocurrency Market read more.
01/09/2019 / 01:37:02
Ccn Neutral - Could Japan’s Approval of the Bitcoin ETF Affect US SEC’s Decision? read more.
01/09/2019 / 01:31:17
Bitcoin.Com Neutral - Review: Wasabi’s Privacy-Focused BTC Wallet Aims to Make Bitcoin Fungible Again read more.
01/09/2019 / 01:10:11
Ethereumworldnews Neutral - Crypto Startup CEO: “Gut Feeling” Is That Bitcoin (BTC) Will Fall Under $3,000 read more.
01/09/2019 / 01:00:38
Newsbtc Neutral - Data Suggests That Bitcoin Is Seeing Increasingly Bullish Sentiment read more.
01/09/2019 / 01:00:31
Bitcoinist Neutral - Yellow Vests in France Planning a Bank Run to Collapse the Euro read more.
01/09/2019 / 01:00:30
Cryptoglobe Positive - Cudo Mining Software Lets Users Mine According to Profitability read more.
01/09/2019 / 00:50:00
Ambcrypto Neutral - Bitcoin Cash [BCH] Technical Analysis: Bear picks up the pace taking over the market read more.
01/09/2019 / 00:30:52
Ccn Neutral - Anti-Bitcoin JP Morgan CEO Jamie Dimon: No Recession Ahead, Dow is Rebounding read more.
01/09/2019 / 00:20:24
Cryptoslate Neutral - World’s 23rd Richest Man Invests in Cryptocurrency Exchange Bakkt’s First Funding Round read more.
01/09/2019 / 00:18:25
Cointelegraph Neutral - Litecoin’s Charlie Lee: Decentralized Crypto ‘Must Be Susceptible to 51% Attacks’ read more.
01/09/2019 / 00:17:00
Newsbtc Neutral - Cryptocurrency Bear Market Pressures Shapeshift into Layoffs read more.
01/09/2019 / 00:00:45
Cryptoglobe Neutral - Blockchain Community Returns to Its Founding Principles with Revolutionary New Smart Contract Investment Platform read more.
01/08/2019 / 23:55:42

Latest comments: