EOS, Litecoin, Stellar, Tron, IOTA Technical Analysis: Crypto Finds Solace in Malta and Binance’s Ambitions

Crypto News

Global News / Crypto News 67 Views comments

The slide continues and even with Twitter representatives visiting Tron offices triggering rumors of potential partnerships, sellers continue to run havoc.

So far, Tron leads the collapse shedding six percent in the last day while IOTA is pretty much stable testing the main support line at 90 cents. In any case, we shall wait for better sell entries once there are breaches below key support lines.

In other news, Binance is planning on setting up a bank with Malta’s Founders bank and following the steps of Litecoin.

Let’s have a look at these charts:

EOS Technical Analysis

With a $4 billion war chest, Block One is attracting the best talent in the banking and even the crypto world. After bringing on-board Michael Alexander from the Jeffries Group to oversee EOSIO investment and financial related matters, they are now stepping up their game.

James Mendes is now part of Block One and before joining, he was the MD of Human Resource at Citi Croup. This high-frame talent acquisition is in line with their objective of laying the framework of a scalable platform utilizing blockchain technology.

Despite this, EOS coin is on the slide. Not only is price down but the trading volumes took a hit indicating reluctance. At the time of press, EOS is down six percent and trading below our sell trigger and main support line at $7.

So, because of our trade plan, we shall recommend shorting this coin and taking advantage of the bear break out pattern that is developing. Ideal stops should be above yesterday’s highs at $7.5 with targets at $4 and later $3 assuming sell pressure is strong.

Litecoin (LTC) Technical Analysis

There is much talk around the benefits of LN to users and Charlie Lee weighed in on the issue. Through a Tweet, he said there is more for makers running the LN on both Bitcoin and Litecoin. There users can easily act as a maker, earn a spread whenever they trigger a conversion while takers can automatically swap LTC/BTC via the maker node.