Most alt coins under our radar are recovering. IOTA for example is finding support at $1.7 while Litecoin buyers are loading up at around our previous support line. From our previous altcoins analysis, it’s a straight buys on dips for Litecoin, Stellar Lumens and IOTA with targets in line with our initial price projections.
Let’s have a look at these charts:
XLM/USD (Stellar Lumens)
Stellar Lumens 4HR Chart by Trading View
The crypto sphere pendulum continues and by now, we can conclude that there is a slight and positive correlation between the oscillation of the stock market and the declines in cryptos. As it is, Stellar Lumens is set to benefit whenever there are negative movements in the later.
Basing our overview on analysts’ opinions, Stellar Lumens value will sky rocket if in any case central banks begin issuing their own sovereign backed digital currencies through Stellar Lumens blockchain. Otherwise, Stellar is still slow and a top performer with a five percent gain in the last 24 hours.
Price wise, I will hold my buy triggers and wait until prices shoot past 40 cents as per our previous analysis. After all we are now seeing pockets of buy pressure in an otherwise bullish run.
IOT/USD (IOTA)
IOTA 4HR Chart by Trading View
There is good news brewing and even though it will likely be in 5, 10 or 20 years, news that NASDAQ is lining itself to be a cryptocurrency exchange is positive. It’s mainly positive for IOTA that we have these hosts of tech companies backing it. This is besides the inherent design of IOTA as a facilitator of IoT with several tech applications is a positive. Finally, assuming we have tighter but supportive regulations, more institutions will join in the fray and help pump IOTA prices.
All in all, prices are turning from the upper edge of our buy zone. Right, we didn’t have perfect buy reversal formations but since we are in a bullish market, odds of making money if you buy remains elevated. In the 4HR chart, we have these higher highs relative to the lower BB and a buy signal. I recommend buys with stops just below $1.7. Everything else remains as per our initial projections.
EOS/USD (EOS)
Things are beginning to take shape and with EOSIO prepping itself to be a to-go DApp platform, many companies are taking notice. Already PLACTAL, a DApp that plans to launch on EOS is seeking the services of Coinsilium Group. This consultancy firm often finances and manages blockchain start ups. When EOSIO launches, PLACTAL shall use the expertise of Coinsilium during token generation event (TGE).
