EOS, Tron (TRX), Litecoin (LTC), Stellar Lumens (XLM), Cardano (ADA) Price Analysis | ELEVENEWS
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Analysis

EOS, Tron (TRX), Litecoin (LTC), Stellar Lumens (XLM), Cardano (ADA) Price Analysis

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Losses are steep in EOS and this is partly because of block producer centralization claims and the uncertainty around Dan Larimer commitment. But while we expect bears to slow down, Tron is stable and up 22 percent in the last week. In fact, it could break and close above 1.5 cents main resistance line igniting buyers aiming at 3 cents.

EOS Price Analysis

The EOSIO network might be one of the fastest smart contracting platforms around but with a DPoS consensus algorithm introducing block producers or super nodes, the networks representatives now has to defend the blockchain from centralization criticism.

 

Read: EOS Centralization Woes Return as Block Producer Offers Money for Votes

EOS/USD Price Analysis

Price wise and EOS slide to $1.5 would be faster more so if bears keep up with yesterday’s six percent losses. This was expected and as long as EOS/USD is stuck below $4 then we recommend trading in line with our previous trade plans, unloading EOS on every pull back. Thereafter we shall fade this plan once there are solid gains above $3.5—a level of importance in our analysis.

Litecoin (LTC) Price Analysis

LTC/USD Price Analysis

Thing is, sellers have an upper hand and though LTC/USD is now trading 90 percent from their 2017 peaks, we expect prices to find support as long as LTC is trading above $30.

At the moment, our previous trade plan is valid and before we recommend buys, we suggest patience until after there is convincing evidence of bulls involvement once there is a clear break and close above Nov 25 highs at $35.

Also Read: CoinBase and PayPal – A Match Made in Crypto Heaven?

Once this prints, then it could be an impetus for bulls to rally towards $50—our main resistance level as LTC/USD buyers bid to reverse 2018 losses.

Stellar Lumens (XLM) Price Analysis

Calgary’s NDAX is now the first Canadian exchange to avail the XLM/CAD pair.

XLM/USD Price Analysis

Even with this, XLM is struggling against sellers finding caps at around 20 cents and further losses that will see prices sink below Nov 2018 lows automatically invalidates our previous XLM/USD price analysis. Like before, if there are declines below 15 cents confirming Nov24 losses then Lumens might test 7 cents or May 2017 highs by the end of the year.

This may print if bulls fail to penetrate 25 cents endorsing the bear break out meltdown of week ending Nov 25.

Cardano (ADA) Price Analysis

ADA/USD Price Analysis

Perched at 10th, ADA/USD is one of the top performers in the top 10 adding five percent in the last week. This may appear positive but ADA is this year’s worst performers as bears have so far erased 2017 gains.

What’s worse is that we might end up registering new 2018 lows more so if there are drops below Nov 25 lows at 3.3 cents as bears deflate our bullish outlook cancelling the Morning Star in the pattern.

Like in previous ADA/USD trade plans, we suggest taking a neutral but bearish stand, buying ADA once there are high-volume bars closing above 4.5 cents. This shall trigger a wave of aggressive buyers aiming at 6 cents and later 9.5 cents as per our previous iterations.

Tron (TRX) Price Analysis

TRX/USD Price Analysis

 

TRX is up 22 percent in the last week and as TRX/USD find support, we might see the cancellation of the bear breakout pattern set in motion by Nov 19-20 break below.

Ideally, we would like to see a spike in trading volumes accompanying any surge above 1.5 cents in line with our last TRX/USD trade plan.

In that case, our first target will be at 3 cents with a safe stop at the lows of the breakout bar.

All Charts Courtesy of Trading View

Disclaimer: Views and opinions expressed are those of the author and aren’t investment advice. Trading of any form involves risk and so do your due diligence before making a trading decision.

Tags: Cardano (ADA) Price Analysis, EOS price analysis, Litecoin (LTC) Price Analysis, Stellar Lumens (XLM) Price Analysis, Tron (TRX) Price Analysis

Analysis

Bitcoin Price Could Hit $25,000 Before 2020, Says Bullish Crypto Analyst

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The millionaire cryptocurrency analyst and trader told The Independent that more investors are viewing bitcoin as a safe-haven asset in the wake of growing macroeconomic tensions. Isaacs referred to the ongoing trade conflicts between the U.S. and China that last month sent the global equity market on a downward trend. The negative sentiment prompted investors to hedge in cryptocurrencies. He stated:

“I believe bitcoin has the potential to hit $25,000 by the end of 2019 or early 2020. There are multiple drivers behind the recent resurgence. There are geopolitical, technological, and regulatory drivers. The net effect of the trade war between the U.S. and China has led to a sudden interest in bitcoin as a hedge on investments.”

The statement followed bitcoin’s dramatic correction in the recent market cycle. The cryptocurrency dropped by more than 18% after establishing its 2019 high near $9,090 on San Francisco-based exchange, Coinbase. Nevertheless, bitcoin remains in a positive trendfrom a broader outlook, with its year-to-date performance showing as much as 146% gains.

Isaacs noted that the bitcoin adoption rate is heading in the direction of the cryptocurrency’s price. He cited significant organization like Amazon, Starbucks, Whole Foods, and Microsoft that recently started accepting BTC payments, indicating that the cryptocurrency ecosystem has turned more positive since crashing more than 85% in 2018.

THE BEARISH TAKE ON BITCOIN

Meanwhile, other notably analysts believe bitcoin is due for a considerable drop. Willy Woo, the founder of Woobull.com, said the cryptocurrency has become overvalued following the latest upside movements. The analyst put bitcoin against his popular NVT metric, which represents the ratio of bitcoin’s market capitalization to the volume transmitted by its blockchain. He noted a considerable divergence between the current bitcoin price and the NVT Ratio (explained here), which is bearish:

Josh Rager, another prominent analyst, provided a less harsh bitcoin price outlook, stating that a sharp downside correction would attract more investors to purchase it at cheaper rates. He noted that the BTC-to-dollar exchange rate dropped by at least 30% after every significant bullish move on a broader timeframe, as shown in the graph below.

bitcoin

If Rager is correct, BTC could go as low as $6,000 before attempting a sharp pullback to reclaim the session top of $9,090.

by: https://www.ccn.com

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Analysis

Bitcoin’s Explosive Rally Targets $6,500 Next – Analyst Explains Why

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By CCN: The bitcoin price could surge to $6,500 soon because it breached a key resistance level of $5,500 this week. That’s the assessment of Naeem Aslam, the Chief Market Analyst at ThinkMarkets, a forex and derivatives broker.

Indeed, bitcoin has roared to a six-month this week after flailing for much of 2018.

ASLAM: NASDAQ IS WARMING UP TO BITCOIN FUTURES

Analyst Naeem Aslam told CCN that there are several factors driving the rally, including optimism that Nasdaq is growing more confident about bitcoin futures.

Moreover, he says there’s a bullish trend forming with speculative bitcoin shorts that’s pushing the price higher.

“Technicals are fully supportive and the bulls are pushing the markets higher based on that. It’s likely that bitcoin’s price may move towards $6,000 or even touch $6,500.”

“We have Nasdaq, which is about to get serious about Bitcoin futures. Not to mention the speculative short positions, which are going to get squeezed out very soon (as per the CFTC data).”

bitcoin price chart

Crypto analyst Naeem Aslam of ThinkMarkets says the bitcoin bear market appears to be waning. | Source: ThinkMarkets UK

Even the crypto bears at CNBC begrudgingly agree that bitcoin could climb to $6,000 soon.

Source.ccn

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Analysis

Bitcoin [BTC] and Litecoin [LTC] Price Analysis: Coins find respite from the bear

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Bitcoin has been the world’s premier cryptocurrency since its inception. However, in light of Litecoin’s upcoming halving [August 06, 2019], many people in the community are speculating that Litecoin might lead the bull rally.

Additionally, many believe that Litecoin already hit its bottom and is on a bull run since it surged by ~170% since 13 December, 2018.

Bitcoin 1-day chart

Bitcoin’s price, at press time, was $4,026, with the market cap at $71 billion. The 24-hour trading volume for Bitcoin was at $9.97 billion, slightly less than $10 billion.

Support 1: $3,189
Support 2: $3,860
Support 3: $3,681
Resistance 1: $4,111
Resistance 2: $6,094
Resistance 3: $6,648

The Aroon indicator showed a collapsing downtrend and an uptrend, indicating sideways movement for Bitcoin in the daily timeframe.

The Stochastic RSI had touched the oversold zone, which indicated a possible bullish buying opportunity.

The Chaikin Money Flow suggested that money was flowing into the Bitcoin markets.

Litecoin 1 day chart

At press time, Litecoin’s price was $62.80 and the market cap was $3.75 billion. The 24-hour trading volume for Litecoin was a few million short of $2 billion.

Support 1: $23.35
Support 2: $39.65
Support 3: $52.04
Resistance 1: $62.80
Resistance 2: $88.56
Resistance 3: $101.60

The Aroon indicator for Litecoin showed the same movement as Bitcoin, with both the uptrend and downtrend collapsing.

The Stochastic RSI dipped into the oversold zone, with a bullish crossover underway.

The Chaikin Money Flow indicated that there was plenty of money flowing into Litecoin markets.

The price of Bitcoin suggested consolidation, something indicated by the Aroon indicator. However, the Stochastic RSI and CMF indicated a bullish phase for Bitcoin. Litecoin’s price movement showed a similar scenario as Bitcoin, with the CMF and the Stochastic RSI indicating a bullish movement for Litecoin.

Source.ambcrypto

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