For the primary time in additional than n days, the highest 10 is inexperienced and printing double digits proper at foremost help strains. In fact, within the final days, help strains had been melting however beneficial properties at Litecoin, IOTA, Tron and EOS are steeling coin supporters. Within the high 10 although, Litecoin stands out and never solely do we’ve a excessive quantity double bar bull rejection of decrease low however these good buying and selling volumes cements our bullish view.
Let’s take a look at these charts:
EOS Technical Evaluation
From the Information
- The just lately launched EOSIO model 1.2.zero exhibits the writer’s intention to scale and improve person expertise. Enhancements of MongoDB Plugin for instance permits for a scalable system and comfort in querying information whereas the combination of Exterior Group Extensions means there’s help for EOSIO SQL and ZeroMQ plugins help.
EOSIO 1.2 Launch https://t.co/vGLkdTIfYe
— EOS (@EOS_io) August 15, 2018
All in all, there’s a reprieve for EOS coin hodlers and that 12 % acquire is a morale booster for coin holders. Within the chart, we’ve this good three bar reversal sample with that pin bar of June 14 capping patrons.
Accompanying this revival in worth are excessive buying and selling volumes and may there be a affirmation in the present day, then I recommend exiting shorts and watching worth motion.
Nevertheless, whereas it might appear good to suggest longs, the pattern is overwhelmingly bearish making it counterproductive recommend in any other case.
The one time we might be assured with our longs is when costs edge above Aug 10 highs at $6. Thereafter, we will take longs with stops at $5 and first targets at $9, the higher restrict of the latest consolidation.
Litecoin (LTC) Technical Evaluation
Apparently, Litecoin costs are up 13 % and with that irregular worth enlargement—contemplating the deep liquidity of the seventh most liquid coin, we’d see a reversal from the dredges.
First, discover that we now have a double bar bullish reversal sample forming proper from This autumn 2017 lows as highlighted from our earlier Litecoin evaluation. Then secondly, not solely did Aug 14 bear shut as a pin bar with lengthy decrease wicks signaling excessive purchase strain however the previous two candlesticks had excessive buying and selling volumes which means there’s help for Charlie Lee, Litecoin Basis and hodlers typically.
It’s the confluence of those technicals that I like to recommend shopping for Litecoin at spot worth with stops at yesterday’s lows at $50. Instant resistance at $70 ought to be our first bull goal respiratory life to merchants.
Stellar Lumens (XLM) Technical Evaluation
Little question, Stellar Lumens is amongst the highest performer within the high 10. Jed Mac Caleb backed coin is now the fifth largest coin on the planet and has been environment friendly in rejecting bears.
Actually, checking the previous six candlesticks, XLM costs have been in a decent consolidation behind excessive volumes alongside 22 cents with the double bar bullish reversal sample off 2018 lows at Aug eight and 9 capping losses.
Nonetheless, since our buying and selling circumstances are but to be met according to our earlier Stellar Lumens (XLM) commerce plan, we will retain a impartial strategy now that our stops had been hit yesterday.
Tron (TRX) Technical Evaluation
From the Information
- BitBox is the most recent cryptocurrency trade to avail help for Tron (TRX).
#TRON can be listed on @bitbox_official, a world crypto trade by @LINE_Global that gives a trusted platform for merchants to purchase and promote main, liquid digital currencies. BITBOX emphasizes user-experience and complete help. #TRX $TRX pic.twitter.com/vezRFs7Ci3
— Justin Solar (@justinsuntron) August 15, 2018
Like the remainder of the cash underneath our focus, Tron is again within the inexperienced printing 15 % within the final day as injection of momentum helps oil patrons who had been sidelined for some time now.
From the chart, patrons stand an opportunity of reversing latest losses however earlier than we recommend shopping for and buying and selling in opposition to the present, we have to see excessive quantity thrusts above Aug 13 highs of two.2 cents.
Ideally what we might technically need to see are excessive volumes within the 25m to 30m area to regular TRX costs.
IOTA (IOT) Technical Evaluation
Regardless of these encouraging beneficial properties proper at round second bear targets at 30 cents, we’re but to declare IOTA buys. IOTA costs are up 10 % within the final day however like TRX’s worth motion, costs are nonetheless confined by Aug 13 excessive lows and so, till we see sturdy beneficial properties above 55 cents, we will stay impartial with a bearish leaning as acknowledged in our yesterday’s IOTA commerce plan.
Disclaimer: Views and opinions expressed are these of the creator and aren’t funding recommendation. Buying and selling of any kind entails threat and so do your due diligence earlier than making a buying and selling determination.