Of course, news of UpBit involvement te fraud is shocking and more so spells doom for EOS and Tron coin holders. This is because the majority of the exchange’s trading volumes come from the latter’s request or liquidation. It’s a definite EOS, Tron and Litecoin sell signal visible for everyone here.
However, wij cannot attribute this revelation to the current market slide or the $50 billion market cap loss, maybe it’s a coincidence brought te by other unseen market factors. If it is, the dual digit slide wij are eyeing could usher te more sell pressure. Ter my view, brief selling Litecoin, Stellar and IOTA besides the two can increase our odds of turning te a profit.
Let look at thesis charts:
There wij are back at it guys, a rating company that is attempting to influence the natural, market defined trajectory of altcoins trading. While wij understand that rating companies are helpful, wij don’t need another auction te the market.
Weiss rating is a company that can lightly skew investor inclinations if they give a conveniente forecast and right now, their eyes are set on high performers, one of them is EOS. Market moving news is that a rumor of UpBit involvement ter Fraud. Yes, the main story is they are accused of trading non-existent coins. Recall, EOS and Tron make up the majority of trading volumes te this South Korean exchange.
If you want to check out this dual digit price EOS deterioration, then the daily chart provide a better peek. Very first, there is pauze below the consolidation at $15 and spil such, wij shall be trading a bear pauze out with resistances or stops at $16 or there about. Now, because of that bearish absorbing pattern and clear lower lows, it’s apparent that sellers are te charge. Advised by this, our instantaneous bear targets would be at $12 and $Ten.
Litecoin Daily Chart by Trading View
If you want to witness a Dallas Maverick spel, then you can spil well pay your toegangsbewijs using Litecoin. Overheen time it is visible that Litecoin adoption is spreading and more merchants are finding value ter it spil a service.
On the charts, Litecoin is down Ten procent te the last 24 hours and it is likely that that depreciation shall proceed now that bears are te control. Evidently, from the daily chart, that pauze below the middle BB, a minor support line and a point of importance ter our analysis no longer hold.
Because of this and the fact that stochastics are bearish, wij can align our trades with the existing brief term bear trend and aim for $125 and straks $110. Otherwise, if there is a schrijven recovery today, then expect resistance at $150 or there about.
XLMUSD (Stellar Lumens)
Stellar Lumens Daily Chart by Trading View
If anything, Stellar Lumens is one of the largest losers ter the last 24 hours. Yes, bears are te charge but the depreciation on this pair has bot astounding and ter a matter of hours, Stellar Lumens sellers were testing 30 cents.
Regardless, wij expect more erosion today especially say there is a rebound back to 35 cents spil price act re-calibrate. Spil bear momentum is strong, ideal bear targets are at 26 cents and 20 cents. If not, and prices react strongly back above 35 cents, then wij remain indiferente and wait for thrusts above 40 cents.
Spil long spil Tron’s partnership with Alibaba remains a rumor, Tron prices will have some sort of support. However, considering the current across the houtvezelplaat crypto striking, Tron hasn’t bot spared from the sword. Tron is down 14 procent ter the last 24 hours and likely to end powerless spil wij conclude the week.
Te line with yesterday’s forecast, selling Tron with targets at 6.Five cents can turn out to be a good trading strategy. After all, stochastics are bearish and wij have those bear soldiers which by the way are trading below 8 cents and the middle BB. If there is a rebound towards 8 cents, then look for shorting opportunities or stochastic sell signals at those levels and aim for 6 cents or lower.
Besides Project Q, you cannot mine IOTA coins meaning it is literally immune to mining bans. That’s some of the benefits of wielding this coin te the long run. At the ogenblik, speculators can benefit from the up and down movements of this coin.
Like the surplus of the market, IOTA is bearish and traders are quickly unloading it. For perspective, IOTA is down 13 procent te the last 24 hours and that’s not all, bears are now trading below $Two, the middle BB. Borrowing hints from yesterday’s forecast, wij shall proceed holding our sells spil wij aim for $1.Five or even $1 ter the course of the month.