“Litecoin and Stellar are Under Valued” NEO, EOS, Litecoin, IOTA and Stellar: Technical Analysis April 14, 2018

We saw the importance of Bitcoin in the course of this week. It is up 17 percent in the last 7 days and the effect on altcoins is profound. Leading this surge is EOS which is up 48% and likely to displace Litecoin in the top 5 spot. In my view, and this is important, most altcoins will continue to add in the coming week and I shall focus primarily on Litecoin and Stellar Lumens which are lagging.

Let’s have a look at these charts:

XLM/USD (Stellar Lumens)

Regardless of the slow down, Stellar Lumens is still up 6 percent in the last 24 hours and 26.30 percent for the week. That is quite impressive from a technical point of view and considering the recent depreciation of cryptocurrencies in general.

The expansion in prices also means a double bar reversal pattern in the weekly chart and even though I won’t recommend long entries at the moment, I anticipate Stellar to edge higher in the coming session.

Suitable pick up points lies at $0.24, a recent support in the 4HR chart. Alternatively, we can wait until when a stochastic buy signal prints more so if prices fail to bounce off $0.24 and continue to slide.

IOT/USD (IOTA)

As you would expect from a multi-billion project as IOTA, there are a lot of developments behind the scene. One of them is this promising Pass, a blockchain biometric and decentralized technology website that will re-launch next week. The project promises decentralization of data identification and verification by leveraging on Tangle technology.

There is a lot of work happening behind the scenes. We will release more information on a weekly basis now #iampass #identity #iota pic.twitter.com/adEOWcLuiG

— PASS (@i_am_pass) April 13, 2018

Price wise, our IOTA technical analysis points to a break out trade which is clear in the daily chart. When we zoom out to the weekly chart, a huge bullish engulfing pattern has been formed meaning trading with the trend in the lower time frame is the surest way of making money.

Therefore, considering this, we should exercise patience until when a stochastic buy signal prints in the 4HR chart. Potential reversal zones can be anywhere between $1 and $1.25 which is also our immediate support. On the flip side, waiting for a break and close above $1.5 before loading buys can be a good strategy.

EOS/USD (EOS)

If you have been following EOS, then by now you should know that there is a lot going on in matters development and sometimes free lunch. While politics dominate on matters BP, Bitmain and INBlockchain, I really think every economic system is designed to favor the big fish.

The blockchain system and tokenization is an example of this and no matter the picketing, someone somewhere is ramping up on the underground trying to seize control. Anyhow, EOS is flexible enough and unlike other blockchain systems where correction can’t be made once transactions are made, Dan said in EOS, the user is in control and in scenarios where mistakes have been made, another transaction can be made to correct them.

Price wise, EOS is set for further gains. In the last 7 days for example it’s up 48 percent and back to position 6 after slowing down yesterday.

The thing is I expect prices to slow down and even retest $7.5 before bulls resume in the coming week. Because of this, I recommend short term sells with targets at $7.5 or until when a stochastic buy signal prints.

LTC/USD (Litecoin)

As always, we can always relate price appreciation with the network effect. Litecoin is playing by the game and keeping their original objectives intact. In fact, news is one of Litecoin Foundation developer Franklyn Richards will be joining Zulu Republic to lead their development team and more so, Litecoin Vault. This is definitely good news.

Happy to announce I will be working with @ztxrepublic to lead development of their #Litecoin products!

Litevault is just the beginning. https://t.co/B36segpwUe

— Franklyn [LTC] (@MLPFrank) April 13, 2018

While this is happening, Litecoin is back to the top 5 and is up 7 percent for the week. The result is that bullish engulfing pattern in the weekly chart and a bullish break out pattern in the daily chart. Even though prices are technically up, our Litecoin price analysis points to lower lows in the coming sessions.

As such we expect prices to retest $120 or $115 before bulls resume ideally right after a stochastics buy signal prints in the 4HR chart.

NEO/USD (NEO)

Right from Gagapay Network a smart marketing platform and Aphelion, it’s the NEO resurgence that truly matters. Now, I really don’t care if NEO hit $100 or $200 over this weekend but what is important to us is this change in sentiment. It’s pretty nice and supportive of price.

Video Demo of the Aphelion NEO Desktop Wallet launching on April 20th, 2018. Watch it here: https://t.co/A7rqIDgadF

— Aphelion (@AphelionToken) April 13, 2018

From our NEO technical analysis, we project prices to rise in the coming week(s). However, at the moment, chances are prices might slow down and if it does, patience shall be our asset.

Immediate bear targets of $55 looks reasonable assuming there is a break below $60 in the 4HR chart. Otherwise, in the medium term, $90 and $110 are our bull targets.

All charts courtesy of Trading View