Cardano, Tron, Litecoin, Stellar Lumens, EOS Price Analysis
A day before Tron launches their Turing complete and EVM compatible virtual machine, TRX is down five cent. Encouragingly though, it is up 28 percent on a weekly basis. Concurrently, ADA is up 15 percent on a the same time frame as EOS literally outperforms in the top 10 after gaining five percent in day where most coins slowed shedding a ball park four percent.
Let’s have a look at these charts:
EOS Price Analysis
From the News
Straight from damning revelation of smart contract vulnerabilities allowing for RAM exploitation and lock up of other users RAM, there seem to be reprieve for EOS and their investors. It all has to do with the proposal for a referendum or a voting system that will allow the $35 million worth of EOS in treasury to be allocated to on-chain blockchain development projects.
Week over week, EOS is table topper and up 29 percent. In the last day, it added five percent meaning the coin is now trading above Aug 17 highs triggering our short term buys at $5.5 as laid out in our last EOS price analysis. Because of this five percent addition and break out, we recommend traders to officially buy on dips on lower time frames and aim for $7 with stops at yesterday’s lows at $5.5.
Litecoin (LTC) Price Analysis
Though there are expectations of Litecoin upsides, yesterday’s prices were pretty tight and moving within Aug 28 high lows. Nonetheless, our last LTC trade plan holds true and in that case we suggest ramping up longs at these dips with stops at $55 and first targets at $70 as laid out before.
The only caveat that can damp our bullish expectation is a high volume bear thrust confirming yesterday’s losses triggering our stops.
Stellar Lumens (XLM) Price Analysis
From the News
- The Stellar network is technically a RTXP competitor and when recent metrics are factored in, Jed MacCaleb’s platform is gaining traction after statistics showed that there were more than 350,000 new accounts registered on the platform in two months. This pushed the total number of accounts on the network to more than one million.
Even if the market is a tad bit lower, week over week gains founds our Stellar Lumens bullish forecast. Going forward, we recommend aggressive traders to add on to their longs in lower time frames.
On the flip side though, conservatives can adopt a patient approach and wait for solid gains above 25 cents as marked in the charts in line with our last Stellar Lumens trade plan assertions.
All in all, price is technically in a range mode and as long as the coin finds support above the monthly support trend line as in the chart, bulls should be in charge as the market bottoms out.
Tron (TRX) Price Analysis
From the News
- TronWallet is now available at Apple Store.
👏 @TronWalletMe is now available on iOS! Download the app and touch a product powered by #TRON ‘s Blockchain. You can pay, send, receive or request $TRX payment & vote for your SRs from your #iPhone New features coming soon. Let us know what do you think! https://t.co/1P7WKiVkWt
— Justin Sun (@justinsuntron) August 29, 2018
All things constant, TRX is inherently volatile. Regardless, a stalling market meant TRX took a five percent hit yesterday though there are more positives to take from the 28 percent weekly gains cementing our bullish position.
And today there might be good news and depending on how the community receives their TVM launch, prices may end up spiking above 3 cents and July highs.
It’s because of this sole reason that I recommend sticking with our past TRX forecast and buying on dips in lower time frames with suitable stops at around Aug 17 highs of 2.2 cents.
Cardano (ADA) Price Analysis
From the News
- Holders of Bittrex accounts older than one month can from Sep 5 trade the ADA/USD pairs. This service will only be accessible from six US states and by international account holders. The six US states are: California, New York, New Mexico, Montana, Arizona, and Washington State.
We’re rolling out more USD pairs. On Sep 5 we’re launching US dollar (USD) markets for Cardano (ADA) and Zcash (ZEC). Eligible #Bittrex accounts created before August are already enabled for USD trading. New user or want to deposit/withdraw USD? Details: https://t.co/KA248OA2Bz pic.twitter.com/pzCry5OdTr
— Bittrex (@BittrexExchange) August 29, 2018
Regardless of our upbeat price projection, most altcoins–aside EOS–are down roughly three percent in the last day. On the daily chart, ADA stalled but appears to be picking up as bulls snap back syncing with our last ADA price forecast.
In line with our last preview, we recommend taking longs at spot prices with stops at 8 cents and first targets at 12 cents.
Conservatively though, it would be ideal if buyers wait for a solid reversal of bear pressure and that will only happen once there is a convincing close above 12 cents. This level is our immediate resistance line and previous sell trigger line.
Should bulls edge past this level then risk on traders ca buy on dips with stops at break out bar lows and first targets at 20 cents and later 40 cents all dependent on the strength of bull momentum.
Disclaimer: This is not investment advice and views represent that of the author. Do your own research before making an investment decision.