There is a across the board alt coin price appreciation after that BTC hard fork yesterday. While prices fluctuate as a result, it was NEO and DASH who lead the surge with double digit scores against the USD. Let’s review price action below:
ALT COIN LSK PRICE ACTION ANALYSIS
On the technical front, nothing major has changed other than that bullish engulfing candlestick which was printed on 24.10.2017. LSK prices also broke above the 20 period MA and the resistance trend line at $5. Note the above average alt coin LSK volumes fueling LSK bulls leading to that stochastic buy signal. Because this buy signal is turning from the oversold territory, first I expect consolidation in lower time frames following yesterday’s surge before alt coin LSK chart its way higher. Immediate target for bulls is at $6.5 resistance line.
ALT COIN DASH PRICE ACTION ANALYSIS
By close of 24.10.2017 candlestick, alt coin DASH was up $68 but was still within the $80 channel. So far, DASH prices are lower and just below the 20 period MA with a stochastic buy signal in place. If anything, there is a high probability of DASH higher highs today. Therefore, supported by current low prices, DASH bulls should look for those perfect long entries in lower time frames. Ideal target falls at $335 with a further upward potential of $370.
ALT COIN IOT PRICE ACTION ANALYSIS
Two things are certain. There is an Evening Star three bar reversal pattern . Secondly, alt coin IOT upswing is propelled by that bullish volumes spike which moved IOT $0.13 and above the resistance trend line at $0.50. These two combination means bulls should be in charge and USD bears should look for long entries or fine tune entries in lower time frames. Immediate take profit should be at 30.09.2017 highs of $0.65.
ALT COIN MONERO PRICE ACTION ANALYSIS
Monero bears took their profits at those recommended take profit range between $75 and $80. Now that there is a stochastic buy signal hinting at alt coin Monero buy pressure, I recommend entering long today. Not only is there is buy signal but you can notice that two bar reversal pattern meaning Monero prices is preparing for a rally. Furthermore, alt coin Monero tested the 20 period MA yesterday. Monero buyers should aim at $100-$110 as their first take profit levels with a safe stop loss below $75 lower limit.
ALT COIN NEO PRICE ACTION ANALYSIS
NEO bull or bear pressure anchored on price reaction at $26 support and $34 resistance levels. By close of 24.10.2017, a bullish candlestick had been printed, alt-coin NEO had moved $10 testing $24 and closing below the resistance trend line at $30. This level is still a good entry if you are a USD bear looking to capitalize of this NEO bull rally. Technically, the recent formation looks like a bull flag with NEO bulls pushing prices higher. I recommend NEO bulls to enter long today and aim at $40 immediate resistance level. Stop loss should be just below $24 support.
All charts courtesy of Trading View
Disclaimer: The information contained herein is not guaranteed, does not purport to be comprehensive and is strictly for information purposes only. It should not be regarded as investment/trading advice. All the information is believed to come from reliable sources. NewsBTC does not warrant the accuracy, correctness, or completeness of information in its analysis and therefore will not be liable for any loss incurred.
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