Yesterday’s altcoins price movement is a normal occurrence often happening after periods of rapid gains/losses.
Stellar Lumens is leading the charge. On the other end though, EOS, Litecoin, Tron and IOTA are relatively flat and retracing. Regardless, we still remain upbeat expecting fundamental events to stimulate the next wave of buy pressure.
Let’s have a look at the charts:
EOS Technical Analysis
Scalability is one area that EOS is excelling at. Before their mainnet launch, it was one of their main agenda. That’s apart from offering free transactions and simplifying this whole blockchain thing. In line with their objective, yesterday we saw their TPS spiking to 2822 surpassing that of Visa—which processes transactions at 2,000 TPS but capable of much more.
Congrats to the #EOS community on becoming the fastest growing, highest performing (2000+ TPS w/ 500ms block times), most efficient (1% inflation and no fees), and most aligned blockchain ecosystem in the world… in just 6 weeks https://t.co/R0OR0hIqU4
— BrendanBlumer (@BrendanBlumer) July 18, 2018
This is definitely a new high coming straight from a blockchain project and reflects the cumulative efforts from the community and the team behind EOSIO. At this rate, EOSIO is open for even higher TPS all thanks to the 21 super nodes allowing for speed.
At the charts, EOS is stagnant and even if it is down four percent in the last day, we still hold on a bullish skew for obvious reasons. Well, as long as price action oscillates inside July 17 high low we expect buyers to be in charge and drive prices above $9 our buy trigger line. Before then, we shall be neutral and trading in line with our laid out trade plan.
Litecoin (LTC) Technical Analysis
A few days after flappening, Litecoin is in risk of dropping to position eight in the liquidity list. Its market cap is only $700 million away from that of Cardano’s at $7