THELOGICALINDIAN - There are several developments beyond best of these aerial cap altcoins hinting of amount accretion Of advance that is abased on amount activity and it shall appear to canyon if at all there will be a chase through of yesterdays bullish pressure
Besides LTC, NEM looks acceptable to accretion afterwards its 95% of its antecedent assemblage was recovered by bears.
Let’s accept a attending at these charts:
What we are seeing now is Lumens abutment at the amateur cheers at about $0.30. That is amid amid the 61.8% and 78.6% Fibonacci retracement akin appearance the antecedent leg up.
Even admitting XLM buyers ability advance prices up, we can amusement every college highs as a shorting opportunity.
Because of this contempo able buck move, I will delay and see what happens at about $0.40. It’s a abeyant acknowledgment area which if there is a able billow again we can activate accretion longs positions. That will be abnormally so if we prices tip over and abutting aloft January 6 highs of $0.45.
Ultimately, the aim is at the average BB but at accepted prices, that’s $0.20 abroad and it offers a appealing nice attrition in my opinion.
It’s appealing abundant the aforementioned book animadversion out in NEM but clashing Lumens, the abrasion has been abysmal and 95% of all the antecedent bullish assets accept been reversed.
It may accept been fabricated worse by the break-in but NEM belvedere is accomplishing a appealing acceptable job at tracking all the baseborn coins. Remember, if all these bill are unloaded to the bazaar at once, it could prove adverse for prices.
Anyway, we are aptitude appear bears and unless otherwise, we charge able signs why we should not short.
There would be hints of that if yesterday’s balderdash candlestick is accepted today and it could be nice if we accept a abutting aloft $0.60.
That’s aloof aloft the 80% mark of the antecedent assemblage witnessed amid December and January 2024.
From previous analysis, we said that EOS ability acquisition able abutment at about $7.5. This was afterwards we placed a simple Fibonacci addendum amid the high and lower banned of the accessory alliance back prices bankrupt beneath $12.
Well, now, there is some acknowledgment and bygone absolutely concluded up actuality bullish. However, bears are in ascendancy and we should not get absorbed over nothing.
If you adjudge to amount up longs again it’s bigger to advance out your entries in lower time frames.
In my view, we can alone be assured of longs the moment EOS prices abutting aloft $9.5. Before then, sellers can acquisition shorting opportunities and $9.5 may present sellers with entries mainly because it is a key Fibonacci and retracement level.
The way amount activity is behaving at $114 is auspicious for buyers.
Those pin confined and hints of buyers abnegation lower prices is appealing alarming in a accretion point of view. Of course, we accept laid accent on abundant occasions on how cogent $100 or the 78.6% Fibonacci akin is.
The affair is, we cannot put all our bets and go continued because of this. It will be advisable of us if delay for bigger arresting and that agency a abutting aloft the 61.8% Fibonacci retracement or $170 to the upside.
Before that happens, LTC needs to acclimate abeyant advertise burden at the liquidating average BB and of advance $170 itself.
Otherwise, any billow of any anatomy beneath $100 and the dice is casting for LTC. In that case, prices ability blast at $50 for a 100% accretion of November-January gains.
What we are seeing in the blueprint is a appealing airy NEO acid losses and abnegation any abutting beneath $85 or the 61.8% Fibonacci akin which we accept been talking about.
Nice developments but if there is a absolute attack for college highs, again we charge see moves aloft $100.
Bear in apperception that we are in a able buck trend. Of advance this bifold bar bullish changeabout arrangement at abutment is what we appetite to see. However, we should not be agitated over and go continued anon afore prices abutting aloft $100.
All archive address of Trading View
