Litecoin [LTC], Tron [TRX], EOS Price Analysis and Forecast – June 25, 2019

XRP and Stellar Lumens (XLM) Price Prediction and Analysis
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Litecoin (LTC/USD)

Litecoin

LTC/USD pair has dipped by 0.07%, having moved from $135.72 (A) to $135.63 over the past 24hrs. LTC saw a short-term period of consolidation that placed the support level at $135.72 and the resistance level at $136.33.

This was later followed by a price fall that dipped the price to a low of $132.63. The short decline pushed the support level down to $133.30.

At around 21:00 an uptrend is seen that shifted up the price momentum to a high of $137.71 before it slightly dropped to the current price of $135.63. Market performance, indicated by the RSI indicator is on a downtrend. This, therefore, indicates increased selling pressure since the RSI is seen declining.

FORECAST

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Despite the drop in price, there is an overall bullish outlook. This is because the support level has been moved up from $133.302 to $135.285 which indicate a bullish outlook. The 7-day MA is currently gravitating above the 21 day MA indicating incoming bullish signal. New target should hence be set around the $137 price level.

Tron (TRX/USD)

Tron

TRX/USD pair has been exhibiting a bullish outlook, it has gained by 1.87% having moved from $0.038792 to $0.039531 in the last 24hrs. it’s currently operating a circulating supply of 66.6 Billion coins and a maximum supply of 99 Billion coins. 

Yesterday at around 20:00, the price of TRX dipped to a low of $0.037906. Today around 05:00 the bulls managed to take control of the market momentum and revived the trend from a downtrend to an uptrend. Notably, the price momentum massively scaled up to close at $0.039981 before dropping slightly to the current price.

The uptrend has been supported by the RSI indicator X that is almost crossing level 70 thus indicating an overbought market. This shows positive investors sentiments.

FORECAST

There is a high chance of an incoming period of consolidation since the Relative Strength Index is currently trading towards 60, thus, indicating a lack of dominance from either buyers or sellers. New support target should be held at $0.039472.

EOS/USD

EOS

EOS/USD pair has been trading on a sideways trend in the last 24hrs, the trend has been supported by the intertwining moving averages. 

EOS started the day at $7.20 and is currently trading at $7.11. This showed that it’s currently down by 1.02%. The RSI indicator indicates a downtrend since it is seen dropping from 58.14 to 43.43 thus reflecting increased selling pressure.

Both support level and resistance level were breached. The resistance level currently sits at $7.2362 and support level placed around $7.1682.

FORECAST

A bullish signal is likely to be encountered since almost all indicators are pointing at an upward price rally. The 7-day moving average is currently gravitating above the 21-day moving average.

Charts Provided By TradingView

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