Alt coin IOTA bulls are taking over. After periods of USD bull pressure, price action closed above the main resistance trend line above $0.40. While there have been strong moves in other alt coins, NEO remains muted. It is still trending within a narrow descending channel with mixed stochastics signal. Let’s review what happened in other “lively” trading charts
ALT COIN NEM TESTING RESISTANCE
Following that bear break out on October 31, alt coin NEM price action is within a break out trade strategy. The correction to current price levels and towards the resistance line at $0.20 appears to be a retest.
Following that long upper wick on November 6, USD bulls pushed prices lower and closed below the resistance trend line at $0.18.
Today alt coin NEM close will determine if prices will continue with the bear trend or if $0.25 and 50% Fibonacci retracement level will be our immediate resistance line. Otherwise we wait until a sell signal shows in the stochastics chart.
ALT COIN DASH TESTING MAIN RESISTANCE LINE AT $300
DASH bulls are in charge. As per yesterday’s trade plan, the price range between $335 and $370 remains our strong sell zone.
Yesterday, DASH closed with a long upper wick meaning USD bull pressure. However, as today’s price action shows, the buy momentum is high. DASH is edging higher and retesting the main resistance trend line at around $300.
Chances of our sell zone being hit remains high. This will be so especially if DASH prices close above $300.
ALT COIN IOTA CLOSE ABOVE $40
Alt coin IOTA Price action panned out as planned after yesterday’s close. There was a break and close above the main bull flag.
As we can see, alt coin IOTA reversed from $0.38 support level following an initial bull divergence. Furthermore, there is a stochastics buy signal and a double bottoms at $0.38 support level as alt coin IOTA price action shows.
Our first bull target will be at $0.60 which is a strong resistance point and an important Fibonacci correction level in August-October 2017 Hi-Los.
ALT COIN MONERO SLOWS DOWN AND REMAINS BELOW $105 RESISTANCE
Like all similar price action moves, Monero prices were bound to correct after that strong bullish candlestick. Yes, there was a strong move up from the support line of $80 moving from the 23.6% Fibonacci retracement level of August 2017 Hi-Los.
As insurance, bulls should wait for price close above our main resistance trend line at around $105. A break above $105 means a break above the main resistance trend line of the bull flag.
At current prices, Monero looks likely to correct after that close above the upper BB and resistance line below $105. In coming sessions, a correction towards the minor resistance trend line at around $90 is likely.
ALT COIN NEO IN A TIGHT $2 TRADE RANGE
Nothing has changed in
matters volatility. As a matter of fact, NEO trading range is tight and within a $2 range. Yesterday’s highs of $27 was a retest of the resistance zone at around $30.
Unless there is a strong bullish move above the main resistance trend line, USD bulls are in charge. For now lets wait and see if price action will continue oscillating within this narrow and minor descending channel.
All charts courtesy of Trading View