EOS (EOS) had a good run last week after the main net launch. However, it has dropped slightly today, due to profit taking. This usually happens after a massive pump like what has happened to EOS (EOS) in the last few days. However, from a look at the charts, it is clear that EOS (EOS) is on a long-term uptrend. That’s quite visible in the weekly charts where it has formed a higher-low at $10.63, way higher than the previous low at $4.5. Last week’s high close at $14.50 also brought to an end the EOS (EOS) market correction since it closed higher than the two previous week’s lows $13.95 and $12.51 respectively.
In the day chart, EOS (EOS) is trading at a major support level on the 55-day moving average, which offers an entry level with a good risk-reward ratio. This entry level is further supported by fact that the last two-day price drops have been unable to invalid Friday’s huge upside move. That’s an indicator that the bullish momentum in this crypto is still pretty strong, and an entry at this level, has good returns potential since the next resistance level is at around $18.
In the last 7 days, XinFin (XDCE) has been on a sustained uptrend, from a low of $0.003 on the 28th of May, to its current price of $0.006. That’s a 100% gains in a week. Volumes too are on the rise, indicating that investor confidence in the XinFin project is rising. In the day charts, XinFin (XDCE) has dropped from $0.068 to $0.063.
That’s an indicator of profit taking after 7 days of massive gains. However, the fact that it is yet to break below $0.06 indicates that every drop in price is being bought up, keeping price above $0.06. If the price sustains above this level, the next target to the upside is $0.008. Given its current momentum, XinFin (XDCE) could be one of the best performing cryptos in 2018. The price is right, considering the fact that it is offering low-cost financing for governments and corporations, an aspect that makes it one of the most fundamentally strong cryptos in the market.
Stellar (XLM) had a good run last week after it was listed by NASDAQ, as one of the 20 most promising cryptos. This announcement pushed up stellar volumes and pushed up the price from $0.24 to $0.31. This seems to have been accompanied by profit taking, and price has dropped slightly to $0.29.
However, this offers a good opportunity for investors to jump into stellar. That’s because from a look at the day charts, it is clear that stellar is dropping into a demand zone, at around $0.28 – $0.27. Getting in at that price level offers an investor a chance to profit as the price rises to around $0.32, which is the next level of resistance. In essence, the risk-reward is good for Stellar (XLM) at current prices.