Fundamentals drive the hype element in altcoins and cryptocurrencies. It’s important to know that because even though it could otherwise pass out as a non-issue, Litecoin acquisition of WEG Bank is supportive of price and some are even linking Litecoin (LTC) revival to that. Regardless, we are still in a bear trend with some coins as IOTA and EOS trading at around strong support points.
Let’s have a look at these charts:
EOS Technical Analysis
Thanks to Dawn 4.0, the RAM market definition as a resource subject to speculation is turning some block producers to millionaires. Luckily, there is sanity and instead of using it for their company purposes, EOS Nation has the courtesy of reinvesting that amount to the community and supporting projects within the network.
EOS Ram bubble seems to have burst… However there still remains a lot of tokens still on the exchanges and the Bancor have not been changed yet… Will Ram make another run to 1000 EOS / MB? For EOS RAM price data: https://t.co/BHNqXWLIVx pic.twitter.com/cu3kMIK1Fl
— lionindayard (@lionindayard) July 11, 2018
Of course, RAM is a delicate subject which shouldn’t be taken lightly. It’s no wonder that it is even taking a toll on Dan Larimer who quit the Telegram RAM group. That from a neutral-believing in the ideals of blockchain that EOSIO should remain open source and community driven is wonderful. The community should decide on the way forward rather than depending on a figure head for directions.
Back to price action and sellers are in charge. As a matter of fact, our previous trade plan is going according to plan and so there shouldn’t be changes. However, for those planning to short, my recommendation would be to wait for a bear break out below $7 before shorting on pull backs with every retest of $7. Stops should be at $8 with bear targets at $4.
Litecoin (LTC) Technical Analysis