LUMENS SELLERS PUSHING PRICES LOWER AS BUYERS SET TRIGGERS AT $0.7

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When you were expecting fireworks this week, then you definitely have to be disappointed more so when you’re a Lumens trader. From the chart, it looks like Lumens sellers are on the driving seat preventing prices from recovering.

But, that isn't the one suppressed pair. We will read the identical script in NEM, IOTA, XMR and LTC even after yesterday’s encouraging double bar reversal pattern at key Fibonacci levels across the board.

Our previous buy triggers are still intact but let’s wait and see what today brings.

Let’s take a look at other alt coin charts

NEM PRICES ARE FLAT

NEM is flat
XEMUSD 4HR Chart for January 10, 2018

24 hours later and NEM prices remain flat and boring! Yes boring especially if in case you have been waiting patiently waiting for prices to dip if buyers will not be willing to push prices higher.

That's often the test of traders. Patience! But will it disappoint buyers? That also depends however the 50% Fibonacci retracement at $1.46 is where I’m watching while not forgetting the primary support line at $1.36.

Any close below these two levels and we may as well forget about longs. On the flip side, if NEM buyers trigger our limits and convincingly close above $1.62, this week might find yourself as bullish and confirm the overall trend.

LUMENS SELLERS PUSHING PRICES LOWER AS BUYERS SET TRIGGERS AT $0.7

Lumens sellers
XLMUSD 4HR Chart for January 10, 2018

In comparison with last week’s price action, Lumens is on a down trend but then it's excellent news for buyers.

You could ask why? But before that, take a look at last week super humongous bull candlestick that obliterated several resistance levels as defined by the Fibonacci extension tool.

Often, such forms of candlesticks may be very disappointing especially for people who bought at tops. For my part-and that is my recommendation, bulls might bounce back but that could be very conditional.

I have to see movement and that may only be guaranteed by a close above $0.70 which from the chart is the 38.2% retracement level. Before then, just back off and wait.

CLOSE BELOW $3.3 IS INVITING FOR IOTA SELLERS

IOTA sellers and consolidation
IOTUSD 4HR Chart for January 10, 2018

I’m now certain of 1 thing: bear pressure. However, without getting too attached with the general IOTA rally—it get addictive sometimes, any dip AND close below $3.3-a strong support line within the every day and weekly time-frame invalidates our long projections.

It’s no secret that with the rapid expansion of IOTA, there's need of fine tuning entries. I admit, long run traders are late because at current prices, IOTA prices are at a cross roads.

Will it resume trend or dip towards the equalizer-the middle BB? That's what is left to time and on our part, we play the patience game unless otherwise. For now, let’s trade in response to trend.

MONERO HIGHER HIGHS WITH SUPPORT AT $400

Monero close above $400
XMRUSD 4HR Chart for January 10, 2018

Yesterday, Monero buys kept prices from sinking below $400 and that level qualifies as our short term support.

It’s not hard, buyers begun buying from $350 and in the intervening time, they're up $70 and moving as per last week’s trend.

If Monero prices surge past $445, then Monero is more than likely to check $530 in response to Fibonacci extension levels from last week’s high lows.

Otherwise, any price ceiling and we'd see prices testing middle BB and dipping back towards the 38.2% Fibonacci level at around $380.

WITH LTC CONSOLIDATING, BUY TRIGGERS AT $270

LTC sellers keeping prices below $255
LTCUSD 4HR Chart for January 10, 2018

LTC prices are moving within a really tight range.

Despite the fact that the recent dip from $300 is sweet for buyers, the tepid volatility is a toss as we wait for a break out above $255 and maybe a move towards $270.

Due to this, today we might be watching price action and any depreciation below $230 invalidates our intra-week bull expectations.

All charts courtesy of Trading View

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