Nick Szabo insists that Bitcoin’s (BTC) future is still facing uncertainty claiming that the significant crypto competition with Bitcoin (BTC) is the reason behind the recent market volatility. Szabo believes the price of Bitcoin (BTC) would decline until growth becomes stable. For now, we should instead be selling EOS, Litecoin (LTC), and Tron (TRX).
Technical Analysis for EOS, Litecoin (LTC) and TRON (TRX) By Nick Szabo
Technical Analysis for EOS
EOS Price Today / USD
Several factors have made EOS slide led back by 20 percent in only 24 hours. Sell trades should be live in the charts considering the strong bearish engulfing pattern that is pushing prices beneath the critical trigger pattern at 8 USD. As such, buying on the June 14 bullish candlestick should be disregarded. The only logical move is to trade within the pattern and sell with targets at 4 USD or 5 USD via the upside.
Technical Analysis for Litecoin (LTC)
Litecoin (LTC) Price Today / USD
Litecoin (LTC) sellers seem unstoppable even though the token has more listings on multiple trading platforms. At current prices Litecoin (LTC) is still in its seven months low and the bears are looking like they won’t stop. The charts indicate sell triggers at 90 USD which has been hit hence prices are down by 12 percent and judging from this momentum, a shift further downwards wouldn’t come as a surprise. Hence shorting on every high should work with highs at 70 USD and 50 USD.
Technical Analysis TRON (TRX)
TRON (TRX) Price Today / USD
TRON has been actively updating its supporters regarding the progress of their mainnet launch. In fact, TRON’s (TRX) mainnet launch preview was successful, and there’s another on the cards. There’s also a list of exchanges who are supporting TRON’s (TRX) mainnet launch set for June 25 which will be available on the network’s website. The token has risen in the liquidity table despite prices still down by 10 percent. Even though the price of TRON’s TRX tokens are within previous trading patterns, sellers remain in charge. Hence selling at current prices won’t be a bad thing thanks to the bearish engulfing candlestick from yesterday.