The main reason why the revival of altcoins is controlled by how the Bitcoin price ticks is because of the Bitcoin-altcoin coupling. As of now, Bitcoin is experiencing winter, which means that altcoins are experiencing winter too. The prices of EOS/USD and TRX/USD are both trending below key support levels. This is despite support for EOS dApps have been provided by Ledger Nano S.
Let’s take a look at how the altcoins are doing:
Altcoin Price AnalysisD
The price of EOS is currently resting at fifth, however, its volatility is low shedding at 1.2% in the past 24 hours. However, the trade plan for EOS/USD is still valid. Investors can still unpack EOS at spot prices and be on the wait until the price would shrink to $1.5 before starting to grab buying opportunities on pull backs, as long as EOS remains to be trading lower than $4.
Altcoin Price Analysis: LTC/USD
As of the moment, Litecoin is in the red area. The same as before, sellers are still in charge. However, the chances of LTC bouncing back towards $40 is high. You will see this at spot prices and if you factor in volumes and ranges of weekly trade. It’s recommended that traders should hold off from unloading their goods at spot prices. If traders of this altcoin would be patient, they’ll experience gains sooner or later.
Altcoin Price Analysis: XLM/USD
As long as this altcoin stays inside the 15 cents range, especially with the supports at 15 cents and the resistance at 30 cents, then XLD/USD may stay stable. The sell momentum for XLD/USD is picking these past few days. The high volume losses during November 14 – 15, 2018 bulls are reversed.
There’s reason to be optimistic because the prices are down by 85% from the peaks of 2017. If you look at Fibonacci retracement rules, pull backs towards 23.6% and 38.2% levels is possible.
Altcoin Price Analysis: TRX/USD
The decline of this week didn’t spare this altcoin. TRX/USD is still down by 28%, even with the superior transactions and Justin Sun shills. It’s still $250 million away from taking the 10th spot from Monero. This is even though the cap may be able to widen if a couple of drops would confirm the bear breakout lower than the lows of August.
If you look at previous price analysis, the ones in control are the bears.
Altcoin Price Analysis: IOT/USD
IOT/USD is technically bearish, in fact, it’s one of the top losers these past few days. It’s down by 26% this week. The prices finding support at 30 cents.
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