LTC FINDS RESISTANCE AT $250 AS IOTA CONSOLIDATES

in #litcoin7 years ago

IOTA consolidates

As IOTA consolidates, Monero and DASH are bouncing from the minor support trend line and the triple bottoms respectively.

Of the 5 alt coins we are focusing on, NEM is the only token that has gained ground this week.

NEM BUYERS EYEING $1.1

NEM buyers aim for $1.1
NEMUSD 4HR Chart for December 30, 2017
Nothing serious for NEM. Our trade plan is panning out well. From yesterday’s price action, the 38.2% Fibonacci retracement seem to be a perfect spring board for buyers.

On the secondary chart, the stochastics are turning from oversold territory complete with a buy signal. Because everything is going according to our plan, our immediate bull target at $1.1 remains unchanged.

DASH FOUND SUPPORT AT THE TRIPLE BOTTOMS

DASH bounces from triple bottoms
DASHUSD 4HR Chart for December 30, 2017
The charade continues. Even after DASH tested the triple bottoms with sellers appearing to be in control, buyers jumped in and buoyed prices.

The $1000 round number not only proved sensitive but a perfect trampoline for buyers. Any close above $1200 or the 61.8% Fibonacci retracement level on the upper side will invalidate our bear projection.

Considering the buy signal which has been printed, any pump to confirm the recent bull candlestick in the 4HR chart shall increase odds of bear cancellation.

IOTA CONSOLIDATES

IOTA consolidates
IOTUSD 4HR Chart for December 30, 2017
Even though we can see IOTA found support at $3.3, it is highly likely that a retest will be on the cards in the coming days. Besides the persistent sell pressure, we have to note the influence of the middle BB.IOTA prices have been moving along it in the past 4 sessions.

From the chart, a stochastic buy may print. Therefore, we shall have to see if IOTA price action will follow through and sync with momentum.

Of course, $5 is our immediate resistance and should act as our ceiling in the next couple of day. What is of importance though is the support at $3.3.

We need a strong close below it to confirm sell pressure otherwise this consolidation will render stochastics useless.

MONERO PRICES BOUNCE FROM THE MINOR SUPPORT TREND LINE

Monero bounces off minor support trend line
XMRUSD 4HR Chart for December 30, 2017
A couple of Monero higher highs relative to the lower BB is relieving for buyers. Additionally, the fact that there is support at the minor trend line hints of possible reversal and paring of December 22 losses.

The 61.8% Fibonacci retracement level from where I recommended selling will be our immediate resistance level and assuming prices close above it, then well, we shall have no option but to trade with the trend.

LTC FINDS RESISTANCE AT $255

LTC prices find resistance at $255
LTCUSD 4HR Chart for December 30, 2017
We are definitely in a down trend and should $255 and the minor resistance trend line remain a reliable LTCprice tag, then it is likely that the bear pressure we saw yesterday may continue.

There is a little bit of buy pressure yesterday but the fact that buyers are not able to break past the immediate resistance at $255 means we continue shorting with every LTC appreciation.

Conversely, if prices blast through the middle BB and the minor resistance trend line by New Year, then LTC might be on a path towards recovery.

–AltcoinToday.com

All charts courtesy of Trading View

Photo via Pixabay

Sort:  

interesting posting

Congratulations @silentpartnerio! You have completed some achievement on Steemit and have been rewarded with new badge(s) :

Award for the number of upvotes

Click on any badge to view your own Board of Honor on SteemitBoard.
For more information about SteemitBoard, click here

If you no longer want to receive notifications, reply to this comment with the word STOP

Upvote this notification to help all Steemit users. Learn why here!

@silentpartnerio you were flagged by a worthless gang of trolls, so, I gave you an upvote to counteract it! Enjoy!!

Congratulations @silentpartnerio! You received a personal award!

1 Year on Steemit

Click here to view your Board of Honor

Do not miss the last post from @steemitboard:

Saint Nicholas challenge for good boys and girls

Support SteemitBoard's project! Vote for its witness and get one more award!

Congratulations @silentpartnerio! You received a personal award!

Happy Birthday! - You are on the Steem blockchain for 2 years!

You can view your badges on your Steem Board and compare to others on the Steem Ranking

Vote for @Steemitboard as a witness to get one more award and increased upvotes!

Hi! I am a robot. I just upvoted you! I found similar content that readers might be interested in:
http://www.altcointoday.com/ltc-finds-resistance-250-iota-consolidates/