Litecoin, IOTA, Stellar Lumens, Tron, EOS Technical Analysis: Litecoin is Over-valued and EOS Fair Value is $676 Claims CoinFairValue

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On a positive note, altcoins are on a recovery path and syncing with last week’s bulls. Not only are we seeing respectable gains in Litecoin, EOS and IOTA-which by the way is reversing from 90 cents, but the fact that LTC bulls are now retesting $90 is encouraging from a bull perspective. Hopefully, coin specific news would continue trickling in boosting prices in the process.

Let’s look at these charts:

EOS Technical Analysis

EOS Technical Analysis

EOS Daily Chart by Trading View

You have to check this yourself but according to CoinFairValue, EOS’s fair value is $676! That right there means there is some serious EOS undervaluation and going by that analysis, investors should investing heads first. To elaborate, the site claims that their fair value evaluation of each coin is based on “growth expectation of the coin usage” and well, if we comb through the community, the only use of EOS thus far is mainly for RAM purchases. On the negative side, a dApp developer said EOS was being used to Sybil attack the Ethereum network.

CoinFairValue assertions are for sure controversial and regardless, the EOS market is reacting and moving higher. After yesterday’s bull candlestick, we might see additional gains to day and perhaps a break above July 20 high low as bulls aim to edge past $9, our bull trigger. Considering the proximity to $9, my EOS Trade recommendation to risk-off traders is to buy at current spot rates with stops just below this four day consolidation at $7.5. Usual targets would be at June highs at $15.

Litecoin (LTC) Technical Analysis

Litecoin (LTC) Technical Analysis

Litecoin Daily Chart by Trading View

Encouragingly, Litecoin bulls are now back and following yesterday’s jump and retest of $90. Odds are we might see our buy triggers being retested today. Because of that, my trade suggestion is simple: Buy Litecoin on every dip in lower time frames. As laid out in previous trade plans, our first targets would be $110, our immediate resistance and previous support line.

Stellar Lumens (XLM) Technical Analysis

Stellar Lumens (XLM) Technical Analysis

Stellar Lumens Daily Chart by Trading View

Of all the coins being “explored” by CoinBase, Stellar stands out and that’s thanks to Jed McCaleb, the founder of Stellar platform. In case Lumens, the native currency of the Stellar foundation, get listed then we might see its value quadruple to $1 in the coming days because of the psychology behind the 13 million CoinBase users.Not only will it be the cheapest coin on offer, but the number of available coins means everyone can purchase any amount as long as their account can allow.

Aside from these expectations, we remain XLM bulls and our plan is to ramp up longs on every dip in line with our Stellar Lumens analysis. Conservatives can way for bull pressure resumption above 30 cents while risk-off traders can begin buy at current spot prices with stops at 25 cents. In the meantime, those who bought XLM at 22 cents can lock in some profits and move their first take profits to 40 cents.

Tron (TRX) Technical Analysis

Tron (TRX) Technical Analysis

Tron Daily Chart by Trading View

Justin Sun, the co-Founder of Tron says BitTorrent is the “genesis of decentralized movement” and with more than 100 million active users, his description holds true. That might be the reason and the fuel behind Tron’s acquisition with online commentators placing the cost at $140 million. By running BitTorrent on the Tron’s blockchain, the company will hope to accelerate their objectives and create an “internet of options, not rules”.

Sun’s statements are all over the place and exactly how they shall leverage BitTorrent as they recover back to the top 10 is not clear. What we do know though is that TRX buys are finding support and so far, it is up three percent and moving closer towards our immediate resistance at 4 cents. Syncing with our Tron trade plan, strong breaks above 4 cents would means a trend shift allowing TRX bulls to buy on dips with stops at July 24 lows.

IOTA (IOT) Technical Analysis

IOTA (IOT) Technical Analysis

IOTA Daily Chart by Trading View

A combination of scalability, free transactions and fast transaction settlements is what gives Tangle and IOTA an edge. By all accounts, IOTA is on the fore front advocating for IoT and M2M data ecosystems. As they do they are invariably laying the foundation of what they call“Industry 4.0 Smart Manufacturing”. In this close loop, data is Gold. In this Smart Manufacturing era, Tangle stores every bit of data with machine coordinating independently as they update themselves automatically.

Our IOTA trade plan holds true and clearly, there is a triple bottom right at 90 cents. Despite this recovery-IOTA is up two percent, my suggestion is to retain an IOTA neutral to bullish skew with first IOTA loading once we see buyers printing above $1.2 or July 18 highs. Ideally, we would want to see strong break outs above July highs and resistance at $1.3 going full throttle.

Disclaimer: Views and opinions expressed are those of the author and aren’t investment advice. Trading of any form involves risk and so do your due diligence before making a trading decision.

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