Even though Trump and Kim have shaken hands, we are yet to see a slow down in Bitcoin prices which we all know anchors alt coin prices. In real sense, Bitcoin dominance stands at 38 percent and the general crypto cap is up to $309 billion but this is apparently not stopping sellers from eroding Litecoin, EOS and Tron valuation. In fact, Litecoin is trading below $110, a key support line while EOS is down testing $10, a sell trigger line.
Let’s have a look at these charts
EOS Technical Analysis
Even though we have internal testing that demonstrates that the EOS network can easily handle hundred of thousands of transactions, still, we need to see the performance of the blockchain once everything is ready. With this, we already have comparisons between Bitcoin and EOS and how dismissal the former is. However, note that the permissionless nature of Bitcoin is what makes it hard to scale while EOS has it is to some permissioned. Besides, some even claim EOS is more centralized than Ripple despite the ability to vote out Block producers in EOS. As it is, it operates more like a democracy with a transparent system that is on-chain.
Price wise, EOS is down 18 percent in the last 24 hours and with that move, its testing the main support line at $10. From the chart, it’s clear that prices are now aligning with bear pressure that was set in pace by June 10 depreciation. So, today I recommend shorting and placing stops above June 11 highs of $11.5. Sell targets would be at $7.
Litecoin (LTC) Technical Analysis
There is a new PayWithLitecoin website where users can track which merchant supports LTC. It’s also a platform where they can check which sites users are demanding LTC incorporation. From statistics, it is emerging that users have been consistently asking the likes of Amazon and eBay to allow LTC checkout. It’s