Cryptocurrency Technical Price Analysis: IOTA, EOS, Tron, Stellar, Litecoin

If you’re looking to trade in any of these cryptocurrencies on a short-term basis, it is important to look into the technical analysis of these cryptocurrencies. Only once you are looking into the technical analysis, it will be easier for you to take a call. We will go into the technical analysis of each of these cryptocurrencies.

EOS:

EOS is gaining the attention of the investors significantly. Even though in the longer term it might a significant amount of potential but it is currently in a downward spiral. Even though in the last couple of days, it has gained some kind of traction at the lower levels of $ 10 but nothing can be ruled out as it has been falling consistently after hitting a high of around $ 23.

Litecoin:

Litecoin is consistently breaking supports. It is making lower lows. It has broken the support of $ 120 and after that; it has broken the support of $ 115 as well. This clearly indicates that it is on the bearish side.

Stellar:

Stellar is also making the pattern of lower lows. Also, when you draw the trend line, it is acting as a resistance for stellar. The next support is around $ .20. Currently, it is trading around $ .25. Thus, it has a long way to go on the lower side.

Tron:

In order for Tron to be in a bullish territory, it needs to rise above 7.5 cents. Currently, it is in a bearish trend. The next support for Tron is around 6.5 cents. If indeed, it breaks that support as well, thereafter it is a support of 5.5 cents. Till then, however, you should trade in Tron only on the short side. If you’re not able to do so, it is a good idea to avoid trading in Tron altogether. Unless and until you would not able to get a clear indicator on the upper side, you should avoid Tron is far as possible.

IOTA:

The next support or the target for iota is around $ 1’s. Till then, there is no point in taking a bullish position in iota. Moreover, if you want to trade in iota compulsorily, it is a good idea to short iota.

Thus, if you’re looking to trade in any of these Altcoins, these are the levels which you should look into. With the help of these levels, it will indeed become easier for you to make the right trading decision in the Altcoins.

Disclaimer: The information on this site is provided for discussion purposes only, and should not be misconstrued as investment advice. Under no circumstances does this information represent a recommendation to buy or sell securities.
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Aamir Kapoor is a fintech writer specializing in cryptocurrency and blockchain. He has a background in finance and banking and was a researcher.