NEO, EOS, LTC, IOTA, Lumens: Technical Analysis March 21, 2018
It was our expectation that altcoin prices: NEO, LTC, IOTA, EOS and Stellar Lumens will continue edging higher as the market gets a reliever. But really, will the new realization by the G20 that cryptocurrencies doesn’t pose a systemic risk to the establishment continue buoying prices? Well, that’s a question everyone else is asking and we shall see how prices react to that in the coming days. Let’s have a look at these charts:XLM/USD (Stellar Lumens)XLM/USD Bittrex Daily Chart for March 21, 2018After cryptocurrencies and blockchain endorsement, Stellar Lumens prices are still on their way up. In the 4HR chart, early buyers got in at a bargain while those who did yesterday traded a middle BB bullish break out with favorable entries during pull backs. If you want to have a clear trajectory on price action, the daily chart provides a clear picture. The daily chart’s middle BB is our immediate resistance line and a probable zone where prices might resume their bear trend as the weekly chart shows. Either way, if that happens or not, this week’s price action is obviously definitive for this coin. At the moment though, bulls can look for long opportunities in lower time frames with targets at $0.40 on the upper edge. IOT/USD (IOTA)IOT/USD BitFinex Daily Chart for March 21, 2018As per our plan, IOTA’s surge continue and so far, our first take profit at $1.45 has been hit. However, here’s the thing and you should consider this in the days to come. IOTA prices are actually turning and it’s likely that there will be a break out today assuming there’s a follow through of yesterday’s bullish pressure. Note that prices are at a periphery and testing the middle BB and the 78.6% Fibonacci retracement line. Because momentum is high-check those diverging %k and %d which are turning from oversold territory-it is likely that there will be a confirmation. If that happens-and odds are it will happen-there will be a change of tide as far as IOTA prices go. I’m net bullish in the short term, recommending buys with targets at $2.2 or the 61.8% Fibonacci retracement as per yesterday’s forecast. EOS/USD (EOS)EOS/USD BitFinex Daily Chart for March 21, 2018History shows that after extraordinarily long candlesticks-(volatile ones), prices tend to slow down or even move within a consolidation before resuming the original break out trend. That’s what we are seeing now and yesterday can be a perfect example. The slowdown in my opinion a loading opportunity and today, prices might surge past the middle BB in the daily chart. Because of this projection and position, EOS buyers may as well target $9.5 in the short term. LTC/USD (LTC)LTC/USD CoinBase Daily Chart for March 21, 2018In the daily chart, it’s apparent that LTC prices were net bearish with bulls struggling to break above the March 19 highs at $170. Regardless, I’m still net positive on this pair and I recommend buying with every stochastic buy signal in lower time frames. Any form of higher highs today will end up confirming a 3-bar reversal candlestick, the Morning Star and that will also mean buyers can aim for immediate resistance at $170 as potential targets. NEO/USD (NEO)NEO/USD Bittrex Daily Chart for March 21, 2018The last time NEO prices were trending above the middle BB was in late February. Since then the liquidation of the middle BB has been visible and with every higher high, prices might experience the same resistance again. This is despite the strong bullish momentum we are currently experiencing. Check out that stochastic buy signal with diverging %k and %d signal lines. Note this though. Even if we can rave about bullish potentials, let’s not enter blindly. Enter at every stochastic buy in the 1HR or 4HR chart assuming you didn’t get in yesterday. All BitFinex, Bittrex and CoinBase charts courtesy of Trading View NEO, EOS, LTC, IOTA, Lumens: Technical Analysis March 21, 2018 was last modified: March 20th, 2018 by Dalmas Ngetich