Crypto Analysis

Altcoin Daily Preview: IOTA, Litecoin Post Impressive Gains. Crypto Winter Over?

Latest IOTA News

IOTA is in the forefront exploring and rolling out solutions for different use cases. After announcing Alpha and Omega—adopting a similar approach as that of Cardano which is perhaps the best way to structure long-term projects ensuring that existing business model is attached to innovation and development, IOTA has released-to a select audience-the results of their four-month effort with Audi.

Read: Why CoinBase Will List More ERC20 Tokens In the Coming Days

During this testing and research phase the IOTA Foundation acted as a consultant helping the auto manufacture explore use cases, creating fitting business model and advising them on efficient technology at each stage.

Meanwhile Audi did interview and research experts before creating the first prototype. Overly, their collaboration demonstrated what companies are set to benefit upon adoption of a business model that prioritize customers.

IOTA (IOT/USD) Price Analysis

IOTA Price Analysis

 

From coin trackers, IOTA is the top performer adding 16 percent in the last day. Clearly, IOTA found support at 20 cents and rejecting these lower lows are Dec 15 spike in market participation. Notice that volumes were almost 5X the average surging from 1 million to around 5 million.

Also Read: Former Goldman Sachs Trading Executive Bullish on Cryptocurrency

The same move was replicated on Dec 17 when prices lifted prices above 25 cents previous resistance now support triggering buys. Now that our trade conditions have been met, we recommend loading up on every pull back or waiting for prices to edge past 30 cents. Because of this, our IOT/USD trade plan will be as follows:

Buy: 30 cents or 25 cents

Stop: 28 cents, 23 cents

First targets: 40 Cents, 50 Cents

Litecoin (LTC/USD) Price Analysis

Litecoin Price Analysis

Like IOTA, LTC is up 7.7 percent in the last day and in a bullish breakout pattern of Dec 17, we expect prices to expand towards $40 and even $50 by the end of the year. It is for this reason that we recommend searching for long positions with option of further fine tuning in lower time frames preferably in the 1HR chart.

Ideally, trend continuation shall print once prices surge above $31 but better opportunity is present if prices retrace, retesting the $25–$26 minor support zone in the next few hours. In that case traders would load at spot with stops just below $25 with first targets at $40 and later $50.

This is our short term LTC/USD trade plan:

Buy: $25-$26, $31

Stop: $24, $28

Targets: $40, $50, $60

All Charts Courtesy of Trading View.

This is not Trading or Investment Advice. Do your own Research.

Dalmas Ngetich
About author

Loving Crypto, Open to Technology, Engineer, Trader
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