ALT COIN TECHNICAL ANALYSIS: PRICE ACTION STILL IN CONSOLIDATION

Today’s alt coin technical analysis is defined by 24.10.2017 candlestick. Almost all alt coin prices are correcting from 24.10.2017 minor highs towards the 20 period MA where support or resistance is found. Let’s review price action of other alt coins as it happened yesterday:

ALT COIN LSKUSD TECHNICAL ANALYSIS

alt coin LSK Technical Analysis
LSKUSD Daily Chart for 28.10.2017

Despite LSK bullish break out above the resistance trend line, LSK bulls are not in the money yet. USD bulls are pushing LSK prices towards the 20 period MA and support-previous resistance line, and currently $4.7 is turning out to be a minor support line. Volumes are low and there is a sell signal even though I won’t advise USD bulls to execute according to the signal. If LSK prices continue to close above $4.7 then there is a likely hood that LSK bulls might push prices higher making it a break out-retest. However, close below $4.1 bull flag base line and 20 Period MA means USD bulls are in charge.

ALT COIN DASHUSD TECHNICAL ANALYSIS

alt coin DASH Technical Analysis
DASHUSD Daily Chart for 28.10.2017

Within a larger $80 range, DASH prices are still below the 20 period MA for the 27th day today. That is how that flexible line is significant for DASH bulls. From 22.10.2017 on wards, you notice those long legged dojis candlesticks as supply demand try to cancel out equilibrium. DASH bulls managed to push prices higher with a stochastic buy signal forming thereafter but the momentum reduced as it alt coin DASH didn’t close above $300. DASH bull and bear trigger are now in place below and above support and resistance trend lines at $260 and $320 respectively. This will also smooth out the effects of whipsaws.

ALT COIN IOTAUSD TECHNICAL ANALYSIS

alt coin IOTA Technical Analysis
IOTAUSD Daily Chart for 28.10.2017

After 24.10.2017 confirmation of a morning star reversal pattern, bulls jumped in. It now looks like that bull spike was after all a fake resistance line break out. Alt Coin IOTA have since corrected lower and moving within a $0.11 range between $0.38 lows and $0.51 highs. The 20 period MA and the resistance line are clear resistance lines and break above might accelerate build up of NEO bulls. I will place my IOTA bull buy stop above $0.51 and if USD bulls succeed, my trigger will be below $0.38 since IOTA price action is in range mode.

ALT COIN MONERO XMRUSD TECHNICAL ANALYSIS

alt coin Monero Technical Analysis
Monero Daily Chart for 28.10.2017

XMRUSD has not established any definite trend. Other than the couple of short candlesticks denoting period of low volatility over the past 4 trading days, any Monero bull pressure above $95 is cancelled out by the 20 period MA resistance line. As mentioned earlier, the Bollinger Band Squeeze that begun on 30.09.2017 will likely elongate. The longer Monero prices consolidate within the larger $20 range, the stronger the break out on either direction. For now, we wait for that break out while staying out of this trade.

ALT COIN NEOUSD TECHNICAL ANALYSIS

alt coin NEO Technical Analysis
NEOUSD Daily Chart for 28.10.2017

NEOUSD is finding strong resistance at $30. In real sense, price swings within a $4 range is not sensible for trend traders. At the moment, if that three falling method candlestick pattern continue to restrict NEO appreciation, then price action within that minor triangle as shown in the chart will act as out price triggers in any either direction. The resistance line, now support and the 20 period MA will likely influence trend direction in the coming trading days. NEO bulls should wait for a break above $. A close below the base of this bull flag means bear pressure build up. USD bulls  might therefore drive NEO prices to 21.09.2017 lows of $17.

All charts courtesy of Trading View

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