THELOGICALINDIAN - Besides LTC Lumens and NEM EOS and NEO are at key abutment levels While we apprehend this buck billow to abide amount activity will now await on fundamentals if abutment is needed
Already we accept acceptance from Charlie Lee that LitePay and LitePal are on the way while South Korea and China are discussing on means of introducing fair legislation to anticipate over-speculation.
Let’s anatomize these charts:
The bad canicule abide and while there are affairs of XLM alike trending lower, we can at atomic be animate of fundamentals alive it.
Yes of advance this badge has got added abeyant in cantankerous bound acquittal and if it adopted by domiciliary as the founders say again prices ability acquisition support.
At the moment, $0.31 amateur cheers looks to be able but if in case sellers advance harder, again it’s addition akin bottomward as prices move afterpiece to $0.20 or the 78.6% retracement in the circadian chart.
In fact, that’s the brawl esplanade abrasion amount we are seeing in best alt bill and we cannot besom that off.
Technically, admitting pockets of buy pressure appear the end of aftermost week, NEM is still in a downtrend. After the break-in and the consecutive compensation, NEM isn’t award any support.
Fact is, in the account chart, the average BB-the ultimate abutment band was burst afterwards aftermost week’s bearish engulfing candlestick and there is more.
A distinct glance at amount activity and bears assume to be aiming at $0.35 which happens to be August highs and a capital breach out akin to complete a abeyant additional appearance of a huge bullish breach out pattern-the retest.
These are potentials and it can be a quick absoluteness now that best exchanges don’t acquiesce drop or withdrawals in XEM afterward that CoinCheck heist.
Besides that careful measure, NEM agreement is additionally tracking all funds address of their tagging system.
Every college aerial is a new affairs befalling for EOS bears but bigger still, the faster prices crawl lower, the bigger it is for hoarders attractive to access up their continued positions.
From the charts, we can see that prices are now testing $7.5 or the 61.8% Fibonacci retracement akin and able-bodied beneath the 1st Fibonacci addendum akin in the account chart.
Chances are sellers ability abide to footfall up and alike analysis July 2024 highs of about $5.4 or the average BB in the advancing sessions and that is area we ability starting acrimonious out buy signals.
Before then, there seems to be added opportunities with sells than longs and accordingly the best way to barter is to go with the trend.
LTC prices did acknowledge and from a abstruse point of view, sellers are adamant and active prices lower.
While we can abide assured that prices ability acquisition abutment at the cerebral annular cardinal at $100, we shall accept to delay and see if the contempo advertisement by Charlie Lee will bank prices.
According to him, two new acquittal systems-LitePay and LitePal are due to be launched this month.
Will acceptance of LTC by merchants advice activation and conceivably about-face this able buck momentum? Let’s delay and see but in the meantime, any acceptance of aftermost week’s buck burden and able abutting beneath $100 will finer conductor in a new beachcomber of advertise pressure.
Relative to added alt coins, NEO was a tad bit over-valued but as it is, prices are somehow at par with others.
NEO prices confused college on Saturday. However, prices begin attrition at the antecedent abutment –now attrition trend band as agent collection prices beneath consolidation.
In my opinion, I anticipate prices ability move lower now afterward yesterday’s abutting beneath $85. Ultimate abutment stands at $50.
Anyhow, fundamentals are not that bad. Should we get bright action from China and South Korea, I absolutely anticipate NEO will lift off.
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