Technical price analysis of Stellar,Litecoin, NEO, Monero, EOS, Saturday, March 17, 2018

The market continues in a complicated situation, with the price of Bitcoin under a lot of pressure. In the same way the price of the Altcoins are down, Bitcoin Cash reports a slight recovery of 5% but it is one of the few “known” cryptocurrencies that report an increase in today’s day.

XLM / USD

While there is an obvious reaction at around $ 0.20, Lumens swing sellers can literally take off their short cap and so for a price bounce. With respect to yesterday’s forecast, our sales zone is at or near recent highs of $ 0.30.

If the prices react and the strong candle traces in the direction of the bearish breakout pattern are eliminated in the weekly chart, then we can continue with our previous projection and the load shorts.

Otherwise, as we can see, $ 0.20 is important and it is the Fibonacci retracement level of 78.6% that is anchored in the low maximum of this digital asset. I mean, with the accumulation and the highest highs in relation to the lowest BB as seen in the 4HR chart, this level can also be a perfect bullring.

However, before drawing conclusions, let’s wait and see what action the price has.

XMR / USD

According to our forecast, Monero is in a bearish trend, but with a recent bullish development in the lower time frames, sellers can also stop shorting for at least a couple of days.

In the 4HR chart, we can see a good recovery in prices and with that stochastic buying signal and the highest highs testing the average BB and aiming at $ 230, buyers could be aiming to reverse the recent losses.

But, here’s the thing. The rapid increase of bears on the weekly chart means that sellers will find favorable opportunities to shorten with each stochastic sales signal on the 4HR chart.

Those sales areas can be anywhere around $ 260, our immediate resistance level and the average BB in the weekly chart according to our recent business plan.

At the moment, swing buyers can buy at $ 220 with safe stops at $ 200 and aim at $ 260.

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EOS / USD

While EOS prices are in a short-term uptrend, do not forget that the general trend in a longer time frame is mainly bearish. But nothing is fixed. The action of the price changes all the time.

As such, in the short term, EOS bulls can start looking for long openings in lower time frames and it would be preferable to go long whenever a stochastic purchase signal is printed.

At the moment, the bulls are testing the BB medium. If they break and close on him now that a strong bullish candlestick is clear, we can trade a lower bullish with targets at $ 5.8 and $ 6.2 respectively.

An additional appreciation above $ 6.2 cancels this projection since it means the presence of a stochastic purchase signal on the daily chart. Tangentially, that could indicate a change in momentum in spite of the bears increasing.

LTC / USD

It is likely that LTC prices are changing and, although we are naturally pessimistic about this recovery, taking risks can generate more profits or a huge one. After all, that has been the routine in recent days and I prefer the latter.

Therefore, I will recommend buying LTC before the end of the week. Operators can expect a break above the resistance trendline in the 4HR chart -refer the previous attachment- or trade as is.

Now, if today ends up being bullish, a bar of double investment bar and its confirmation will be completed on the daily chart. In that case, the stops should be $ 150 with targets at the March highs of $ 230 assuming the prices exceed $ 200.

NEO / USD

According to our previous business plan, we remain neutral in this pair, unless, of course, there is a strong break of more than $ 75 or the average BB in the 4HR chart.

Given the price action, it is likely that this will happen now that there is a bullish engulfing candlestick after short accumulation periods.