DASH, MONERO AND NEO GAINING AGAINST THE USD: ALT COIN TECHNICAL ANALYIS


Summary Notes
• DASH, Monero and NEO are attempting to trend higher but still held within previous consolidation ranges. Sustained pressure above those marked ranges will mark an alt coin bull rally.
• USD bulls are in charge against alt coin IOTA. Price action has since retested $0.38 support line.

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After yesterday’s doji candlestick, DASH, MONERO, NEO are our focus pairs. As observed, after 24.10.2017 surge, alt coin prices were stuck in consolidation and are now correcting according to the initial trend determined. Let’s review alt coin price action:

ALT COIN IOTA PRICE ACTION ANALYSIS
IOTUSD Daily Chart for 30.10.2017

After 24.10.2017 fake bull break out, IOTA price action have since recoiled lower. The $0.05 bear range is what has been consistent over the 6 trading days which have wiped $0.11 from IOTA after it printed highs of $0.51. A stochastic sell signal with diverging %d and %k means sell momentum is high. Our IOTA triggers will only come to pass if and only if IOTA bulls push for a close above BB middle band and resistance trend line at $0.50. Yesterday’s long legged doji candlestick with above average volume sticking out in a bear trend should be hinting of IOTA bull pressure. Since IOTAUSD is oscillating within our triggers, we shall wait until there is a clear break out before initiating our positions.

ALT COIN LSK PRICE ACTION ANALYSIS
LSKUSD Daily Chart for 30.10.2017

Six days of mixed LSK price movements and price action is still held within a $1.1 range defined by $6.3 and $4.2 high-low of 24.10.2017. The 20 period MA acts as our immediate resistance after that break below on 28.10.2017. Any LSK close above $4.7 will mean LSK bulls resurgence. However, from the look of things, the constant lower lows after 24.10.2017 resulting in that falling three methods and yesterday’s $1.4 range long legged doji meant LSK prices are still within a BB squeeze in an horizontal consolidation. Break and close the lower $4.1 base line of this triangle means USD bulls and a trigger for LSKUSD sells. For now, our bull and bear triggers are above $5.5 and $4 respectively.

 

30.10.2017 DASH, MONERO, NEO  focus pairs
ALT COIN DASH PRICE ACTION ANALYSIS
DASHUSD Daily Chart for 30.10.2017

After 22.10.2017 candlestick close, DASH price action closed below the lower BB meaning price was overextended. Since then, we have seen, despite these crazy whipsaws how prices have been moving higher relative to the lower BB. DASH prices have retested $250 support a couple of times but they always close within the BB. DASH prices are also closing higher and supporting stochastics buy momentum. There is a buy signal in place. For conservative traders, a break above 20 period Ma and $310 resistance trend line will only guarantee a safe DASH bull entry.

ALT COIN MONERO PRICE ACTION ANALYSIS
Monero Daily Chart for 30.10.2017

As mentioned on Saturday, Monero is clearly in a consolidation and oscillating within a BB squeeze which begun on 30.09.2017. From 18.10.2017,  the middle BB has been a reliable resistance line with price action failing to close above $90. There is also a stochastic buy signal  which is turning from oversold territory. Furthermore, yesterday’s Monero moved $16 resulting in a bull candlestick  at support line. Also notice those series of Monero higher highs relative to the lower BB. If anything, I’m of the opinion that Monero prices will appreciate in the coming trading days. I recommend buys especially if there is a close above $90 today.

ALT COIN NEO PRICE ACTION ANALYSIS
NEOUSD Daily Chart for 30.10.2017

NEOUSD is trending higher with a stochastic sell signal and lower volumes. Well, because of these two reasons, we cannot really say that this NEO appreciation is strong. For NEO bulls to be in charge, I would want to see a strong break out from this congested resistance zone and a close above $30. This means a strong bullish engulfing candlestick breaking above the 20 period MA and the minor resistance trend line. Until then, we take a wait and see approach.

All charts courtesy of Trading View

 

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