Stellar Lumens, IOTA, Tron, Litecoin and EOS Price Technical Analysis (June 2, 2018)
Besides Tron which is nose diving after prices broke below 5.5 cents main support, IOTA and Stellar Lumens are strong buy candidates. IOTA did get a boost with DNB ASA MoU while Stellar is technically a buy with no strong fundamentals to back it. EOS on the other hand will prove their assertions today with their mainnet launch. We anticipate bullish pressure but should they collapse below $10 then it’s time to sell from Sunday on-wards.
Let’s check these charts:
EOS Price-Technical Analysis
It’s a day to EOS mainnet launch and while we want to see concrete preparations like announcements of official wallets and things like those, Block One is busy moving ETH. Solid data shows that within 24 hours before an important event, EOS did move about 200,000 ETH to a BitFinex account via their OTC desk.
@bytemaster7 on telegram: “Hardware wallet is coming sono for certain Apple devices” @EOS_io #eos #EOSIO #eos_io pic.twitter.com/dFky5lHnKg
— Eos Italia – Official Community (@eos_italia) June 1, 2018
This effectively upped EOSIO ETH expenditure this month to a whopping 1.75 million ETH. That’s up from 1.25 million month over month meaning that they have effectively drained their crowd funding smart contract account. Their yearlong ICO came to a close yesterday and all focus is today’s mainnet launch that shall test the resilience of EOSIO and Dan Larimer.
Our EOS trade plan remains the same as yesterday’s because of the slow movement in price action. As long as EOS prices trend within May 24 high low this horizontal movement shall continue being a consolidation and a spring board for a possible explosion or collapse. Today shall be D-Day for EOS and whether prices shall mirror TRX’s we don’t know. Let’s wait and see.
Litecoin (LTC) Price Technical Analysis
Their social media campaign advocating for Litecoin payment is finally paying off for the Litecoin Foundation and Charlie Lee. After Cheap Air and a host of other travel companies, Surf Air now accepts Litecoin payments.
On the heels of @TapJets accepting Litecoin, I just got confirmation that @SurfAir is also accepting LTC now in addition to BTC and ETH. More info on this next week! 🚀 More places to #PayWithLitecoin.
— Charlie Lee [LTC⚡] (@SatoshiLite) May 31, 2018
Surf Air is a travel company that arranges flights and other complementing services for clients wishing to fly under their membership program. At the moment they only serve the west coast of the US but they shall add more regions as the gain ground in the coming days. That’s not all though, VRPorn also accepts Litecoin because of its deep liquidity, short confirmation time and its reputation.
Despite everything, prices are still moving within a consolidation within a tight trade range. Because of this, we shall retain yesterday’s trade plan as we retain our bullish skew. Aggressive traders should find reason to buy if and only if prices are above $125 while $130 is a buy trigger for conservatives. By then, we would have strong higher highs.
Stellar Lumens (XLM) Price Technical Analysis
In my view there is no better time to buy Stellar Lumens cheaply than at this technical formation. Yesterday’s candlestick did turn out bearish but still didn’t manage to close lower. As such, all consequent lower time frame movements supports our bullish projection and all you have to do is pick these long opportunities in lower time frame and aim for 50 cents as our previous trade plan dictates.
Tron (TRX) Price Technical Analysis
The marketing goes on and all that we need is a CTA right? Okay, The Tron Foundation did blast their Mainnet Launch ad for everyone to see at NASDAQ. There is a distinction here. All they did was a campaign and not a listing at the NASDAQ exchange. So, it’s not a partnership as some people assume.
#TRON hits #NASDAQ once again! We’re going to change blockchain, the internet, and the world! We’re going full speed. Don’t get left behind. 👊 $TRX #TRX pic.twitter.com/BBkztNMY0b
— Justin Sun (@justinsuntron) June 1, 2018
For now though, if Tron has solid plans of usurping Ethereum then you realize that there is a chance that there is some under-valuation. Anyway, like Ethereum was back in the day, let’s see if Tron shall behave once the TestNet is over.
On the charts, there is a break below 5.5 cents meaning we shall sell today. It seems like bears are following the rhythm set by May 28 sell bar and all we have to do is short on every over valuation and aim for 5 cents and later 4 cents.
IOTA (IOT) Price Technical Analysis
User case adoption, technology and risk reward are some of things that can either make or break a coin. Luckily, IOTA is doing a pretty nice thing drawing the attention of financial, tech and even organizations as the UN.
Yesterday, Norway’s DNB ASA-a financial player in the Nordic region, did sign a MoU with IOTA meaning they shall be part of be part of IOTA’s data market place and participate in innovative activities.
#DNB, Norway’s largest financial services group, teams up with #IOTA to explore the Economy of Things and MyData/GDPR as an opportunity
David Sønstebø Lasse Meholm Dominik Schiener https://t.co/lcUo2Qq5FS https://t.co/ZGXIYHJJub
— Wilfried Pimenta (@wilfriedpimenta) May 31, 2018
Like yesterday, I really think IOTA is edging higher. Technicals support this view and with news as such, IOTA apparently rides on good vibes. It’s a straight buy on dips with targets at $3 and stops at $1.7.