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Altcoins Price Analysis: Every Dip a Buying Opportunity in XLM/USD and ADA/USD
After solid gains, altcoins are slowing down but not bearish. From the chart we can see that ADA/USD and XLM/USD pairs are trending higher within a bullish break out pattern. At the same time, LTC/USD is down while EOS/USD is flat despite release of EOSIO 1.4.0.Lets’ have a look at these charts:EOS Price AnalysisEOSIO 1.4.3 ReleaseThat is why it is important for prices to edge higher and close above Oct highs at $60 before any set of traders can load up LTC at spot in a breakout trade.XLM/USD Price AnalysisThing is, Stellar Lumens odds of higher highs are elevated thanks to stellar fundamentals supporting prices. Add this to the development in the daily chart and our last XLM/USD trade plans are valid. Without wavering, XLM/USD is bullish above 25 cents and every dip is another opportunity for aggressive traders to load up with stops at around 22 cents and first targets at 30 cents.Meanwhile, conservative type of traders should wait for solid breaks above 30 cents. This move is crucial for XLM because it would signal the beginning of price recovery as traders aim at 50 cents or April highs.TRX/USD Price AnalysisAside from milestone smashing transactions, Tron is dry of fundamentals. Since there is no event to prime price action, our last TRX/USD trade plan is valid as prices are still trading below 3 cents or Sep highs.Needless to say, we retain an upbeat overview of prices expecting the minor support trend line to buoy prices and drive them above 3 cents triggering bulls aiming at 4 cents. On the flip side, drops below the minor support trend line could see TRX/USD back at bearish territory. In that case, first bear targets would be 1.5 cents or August double bottom.ADA/USD Price AnalysisWith market boosting development and expectations of higher highs, ADA/USD is within a bullish breakout pattern. Though prices are yet to rally past 9.5 cents or Sep highs ushering in buyers, it is highly likely that that will print out today.There is more interesting information here: ADA/USD Price Analysis: Cardano Neutral to Bullish above 7 CentsThis is so because of yesterday’s rejection of lower lows. Moving on, we suggest aggressive type of traders to buy at spot with stops at around 7.5 cents and first targets at 9.5 cents and later 12 cents in line with our last ADA/USD trade plan.All Charts Courtesy of Trading ViewDisclaimer: 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.
Author: Dalmas Ngetich
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