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7 December 2023
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Christmas trading wiped $14B off the cryptocurrency market; Bitcoin and major altcoins stay in red

Altcoins values are appreciating with Bitcoin Cash (BCH) championing the rally. However, there is a technical undervaluation of EOS, while LTC, XLM, and TRX are gaining day by day creating a bullish recovery. If cryptocurrencies are valued above this week’s Fibonacci retracement zones between 38.2% and 50%, the undervaluation shall be corrected soon.

EOS Price Analysis

The daily charts of EOS indicate that the coin is edging higher. Despite being confined within tight limits, EOS has broken out of its Fibonacci zone severally suggesting a rejection of its lower levels.

Based on one’s trading style and the fact that prices are swinging within last week’s high low, it is good for conservative, risk-on investors to buy when prices are above $7.

LTC Price Analysis

Litecoin bulls are back once again following yesterday’s 6% surges. Although coins are still valued within the previous week’s high low limit, they are steadily gaining momentum and prices are high by 6% in the last 24-hours.

If everything remains constant, we maintain our previous LTC price prediction of endorsing buys at $60 zone.

XLM Price Analysis

In our previous XLM price analysis, our prediction was based on the rate of sell pressure rejection driving prices above $0.25- the break out zone.

We advise risk-averse traders to tally for remarkable moves before buying with targets at $0.50.

TRX Price Analysis

Even at the back of high trading volumes, it is imperative that prices rise above the $0.27 mark. That will not only be a buying signal but also a break off from the consolidation of the last two months.

XMR Price Analysis

The current XMR moves are positive and signal a decelerating bear momentum relieving bulls. Since the general XMR trend is bullish, we recommend taking long positions with stops at $100. Any contrary break out that will leave XMR valued below $100, cancels the prediction.

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