Irrefutably, Bitcoin and most altcoins are bottoming up. However, it’s all about fundamental events and supply-demand dynamics that could affect price movement of most these altcoins especially EOS which had its EOSDAC air drop on April 15. In my view and basing my forecast on EOS technical analysis, prices might retrace back to $6.
Let’s have a look at these charts:
XLM/USD (Stellar Lumens)
In the last 24 hours alone, Stellar Lumens is up 16.28 percent. Even though there is little to talk on the fundamental front, it’s obvious that Stellar Lumens is ending the week at a stronger footing. Week over week, it’s up 44.68 percent and is the 3rd most performing coin in the top 10 after IOTA.
When it comes to the charts, the daily chart gives us a better glimpse of price action. As we can see, bull momentum is up. Most notably though is the banding that is in its earlier stages. Check out those bullish candlesticks moving along the upper BB. It means buy momentum is strong and all we have to do is to look for buy entries in lower chart.
In my view, buying on dips at around $0.27 can be profitable and in that case, feasible bull targets should be $0.4 and $0.5 on the upper end.
Of all the high performing coins bottoming out last week, IOTA is a stand out. Not only is it up 66 percent in the last 7 days, it has more potential for further upsides. I shall be watching this coin closely and with the addition of Jan Pauseback, will there be a positive response?
— IOTA (@iotatoken) April 15, 2018
Despite the FUDs going up and hard statistics hinting of a possible short squeeze-IOTA shorts is up 86%-there are chances that prices might after all explode to the upside. Historically, technical developments