Of all the coins under our radar, NEO is the best performer gaining 5 percent in the last 24 hours. Unlike Litecoin, Stellar, EOS and IOTA, the coin is buoyed by a confluence of activities that might aid in recovery. Apart from NEO, Litecoin continues to erode and sooner or later, prices could test $100 and $90 in the short term. Generally, our bear projections remain valid despite weak spikes as we saw in NEO.
Let’s have a look at these charts:
XLM/USD (Stellar Lumens)
Fundamentally, there is nothing much that we can talk of. It remains the same old stuff but when it comes to price action, our previous stellar Lumens technical analysis would be of help.
Technically, Stellar Lumens sellers are in charge and every high remains a selling opportunity. We can’t reiterate that enough. In the 4HR chart, the reaction at the main resistance trend line is spectacular.
As far as technical set ups is concerned that’s a double bar bearish engulfing pattern and a bearish engulfing candlestick bringing with it a 5 percent value erosion. Consequently, this means sellers can jump in and aim for $0.07 as the weekly chart support-resistance lines dictate.
Industry big wigs continue to tow the IOTA line and of course, that’s good news for the blockless system and their believers. As you may know by now, Dr. Rolf Werner is the new addition to IOTA foundation. On the development front, IOTA is making progress and even though the system remains with its own flaws, IOTA remains pretty much resilient and baffling to some.
Welcome Rolf Werner to the IOTA Foundationhttps://blog.iota.org/welcome-rolf-werner-to-the-iota-foundation-13822ea8b281 …#IOTA
Welcome Rolf Werner to the IOTA Foundation – IOTA
Dr. Rolf Werner is Head of Central Europe at Fujitsu. In this role he manages the company’s business in Germany, Austria and Switzerland…
In my opinion, when Trinity-with a face lift and several use friendly features-becomes available, IOTA demand might rise. At the moment though, it isn’t rocket science, our IOTA technical analysis points to a slump.
From our previous technical analysis, that over-extension in the 4HR chart and a sell signal was fodder for sellers. Simply put, sellers are riding on strong bear wave and are deep in profits. In my view, any break below $0.90 or last week’s lows and IOTA investors might see prices testing $0.35 and Q4 2018 lows.
Besides recent EOS development and milestones do you know that the platform have a nice measure against hacking or any other illegal fund transactions? Well, because of their staking and governance system in place, users can arbitrate for fund reversal. That’s a pretty nice feature in EOS and with an Air Drop soon after EOS launches, holders should celebrate but prices could suffer because of such.
I just published “How to Receive EOS Airdrops in Bitpie Wallet” https://medium.com/p/how-to-receive-eos-airdrops-in-bitpie-wallet-7875fa7c35c4 …
How to Receive EOS Airdrops in Bitpie Wallet – Bitpie Wallet – Medium
Due to the design idea of EOS ecosystem, in the process of building the EOS architecture, many giveaways will be produced and airdropped…
Anyhow, price action is turning out to be a blemish in the midst of these attractive developments. EOS prices are still moving within a tight channel. As long as prices are below last week’s highs at $6.5, traders can always welcome shorting opportunities more so when a stochastic sell signal prints. EOS is likely to depreciate further and in the mean time, our ultimate targets is March 18 lows of $4 but with mid range support at $5.
After Abra and Alliant, Litecoin is still bringing on board payment solutions. Yesterday, news that CoinGate and PrestaShop are collaborating is supportive.
Despite positive talks, adoption of Litecoin and other cryptocurrencies as a means of exchange is still low. With this partnership, more than 80,000 EU merchants would be accepting payment in Ethereum, Litecoin or Bitcoin and all this is good for cryptos in the long run.
I missed this from a few days ago. @CoinGatecom is partnering with @PrestaShop to bring cryptocurrencies (BTC/LTC/ETH and others) to over 80,000 EU merchants. Always exciting to see more merchants accepting cryptocurrencies! #PayWithLitecoinhttps://blog.coingate.com/2018/03/coingate-prestashop-partnership-cryptocurrency-payments-ecommerce-merchants/ …
CoinGate and PrestaShop partner to bring cryptocurrency payments to 80,000 ecommerce merchants -…
CoinGate and PrestaShop announced a cooperation to enable tens of thousands of online merchants to start accepting cryptocurrencies as a payment method.
In the charts, there is a real threat that seller will breach $110 as per our previous Litecoin Technical analysis. After all, that nice bearish engulfing candlestick is setting pace for sellers to join in and drive prices towards $90 in the short term and $50 in the medium to long term.
There is a new Neon NEO wallet update from the City of Zion where the team really tried to fix some bugs.
City of Zion (@coz_official) have released Neon Wallet v0.2.3, including updated error messages and token sale UX improvements. https://neonewstoday.com/development/city-of-zion-coz-release-neon-wallet-v0-2-3/ …
City of Zion (CoZ) release Neon Wallet v0.2.3
City of Zion have released Neon Wallet v0.2.3. It can be downloaded from the following link – Bug fixes and updates include…
Could be this be a reason for NEO recovery? Well, maybe! Understandably, NEO remains surprisingly liquid during the Asian session and rumors are rife that it might be after all be listed at Bithumb, the world second largest cryptocurrency exchange. Undoubtedly, NEO would soar if that happens.
Additionally, the tight schedule in Europe could be a reason for this surprising appreciation and coupled with Binance’s monthly GAS distribution, holders have something to smile about, at-least temporarily. This is on top of other ICOs in the pipeline including NEX, AlphaCat, Moonlight, Aphelion and others.
Moonlight (@Moonlightdotio) has released an addendum to their white paper detailing token and funding allocation. A large portion of funds raised will go towards seeding development tasks that will improve the $NEO ecosystem. https://neonewstoday.com/general/moonlight-release-addendum-1-to-white-paper-on-token-allocation/ …
Moonlight release Addendum 1 to white paper on token allocation
On April 7th, Moonlight released Addendum 1 to their white paper, expanding on section 6, concerning token and funding allocation, and vesting…
In the chart, our projections were right and as we can see prices are reacting at the lower limit of our sell zone-$55. If it remains this way, I anticipate more NEO depreciation now that there is an over-extension after yesterday’s pump. Sellers should eye $40 in the short term.
All charts courtesy of Trading View