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Altcoin Technical Evaluation: NEO, EOS, LTC, IOTA and Lumens

Apart from LTC/USD, NEO, EOS, Lumens and even IOTA are transferring greater.

Though yesterday’s decrease lows in LTC needs to be an exquisite shopping for alternative for consumers, sellers needs to be cautious and place stops above yesterday’s highs at round $220.

Apart from that, EOS is on the upside and the bounce from earlier resistance-now help has been spectacular.

Let’s take a look at these charts:

XLM/USD

XLM/USD Technical AnalysisXLM/USD 4HR Chart for February 27, 2018

Some constructive worth actions from yesterday’s Lumens worth motion.

Though I can not actually advocate entry for positional consumers till after a convincing break above $0.4, there’s a motive for scalpers to fantastic tune their lengthy entries in decrease time frames.

In actual fact they’ll enter within the 4HR chart now that there’s a bullish break above the center BB. Good transfer however that’s nonetheless under the center BB and $0.40 within the each day chart. Nevertheless, spreading lengthy entries with each dip of costs is usually a good technique at the moment.

IOT/USD

IOT/USD Technical AnalysisIOT/USD 4HR Chart for February 27, 2018

Costs stay resilient and even after these emails, consumers are nonetheless assured with IOTA’s hashing operate.

Anyway, right here is the factor, technically, costs look to be on an uptrend and supporting that is the shift of purchase momentum as bulls are searching for a break above the center BB and $2 in the present day.

After we zoom in and verify worth motion within the 4HR chart then we are able to see that how important $1.75 and the 20 interval MA have been since that bullish get away on February 24. I’ll advocate buys with fast targets of $2 and $2.5 within the quick time period.

Cease loss ought to stay at round $1.70 which is under our fast help within the 4HR chart.

EOS/USD

EOS/USD Technical AnalysisEOS/USD 4HR Chart for February 27, 2018

After 12 days of bearish stress, EOS appears to be on a restoration path. Bear in mind on February 14 we had this good bullish get away and what occurs in such set ups is that costs are likely to retrace. It did transfer decrease.

Nevertheless, have a look at how that get away line, the earlier resistance now help pattern line, is shoring costs? Reality is, with this sturdy bullish candlestick pushing above the 20 interval MA and $8, consumers can set off lengthy positions and place their stops at round $7 which is slightly below yesterday’s low.

It’s probably that the retest part is over and we’re within the early levels of a part 3-the pattern resumption part and if that’s the case, then costs ought to transfer greater in the present day. On this case, I place a conservative bull goal of $10 which is barely above February 15 highs.

LTC/USD

LTC/USD Technical AnalysisLTC/USD 4HR Chart for February 27, 2018

After yesterday’s ceiling at round $220 or the 50% Fibonacci retracement stage within the each day chart, we are able to as nicely pause and exit our lengthy positions.

There’s a probability that we’re proper within the bear resumption if worth motion and patterns within the 4HR chart is one thing to go along with.

Discover that costs are reversing proper on the help pattern line of a earlier bull flag and after bear stress affirmation, sellers may take the lead and drive costs again to $200 or February 18 lows of $180.

In fact that is for scalpers with stops above $220 however long run merchants ought to keep out of this commerce and look to purchase finally week’s lows of $200 and even $180.

NEO/USD

NEO/USD Technical AnalysisNEO/USD Each day Chart for February 27, 2018

From our earlier forecast, yesterday’s sturdy push above $130 meant NEO bulls can enter this commerce.

You see we now have a transparent push of that within the 4HR chart and even within the each day chart the place the previous Three or Four days of worth consolidation turned a catapult for costs.

Place stops at $120 and goal January 29 highs of $170 or there about.

What do you think?

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Written by Ravi Gupat

Ravi grew up in India and graduated in Economics. He is a serial entrepreneur who has founded and exited several companies in tech and media over the past 15 years. He is also an early stage investor and advisor in various blockchain-based companies.

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