Altcoin Analysis - QTUM, EOS, LEND (December 29th, 2017)

fintechie (33)in #cryptocurrency • 7 years ago

Altcoins are gaining momentum again, after that short rally in BTC which drove down the prices of most of the alts, BTC seems to be slowing down and going sideways a little. I am uncertain on what move BTC will make next however some altcoins are looking strong and interesting.

QTUM

QTUM made 2 huge moves up in December. Since it's last spike to its all-time high on December 18th it has lost some momentum and been going sideways in a zig-zag correction pattern. Right now it looks like on the MACD it is gaining some momentum and on the DMI, momentum is gaining in the bullish direction. It also looks like QTUM hasn't complete 5 waves up and is right now in the 4th corrective wave about to exit it and make a rally to the fifth. I suspect it will break it's previous high on the QTUM/ETH pair of 0.09 and make it to 0.096 or 0.102.

Larger Image Here

That trend looks to be the same on the BTC pair. Targets on that are 0.005 and 0.0056.

Larger Image Here

EOS

EOS has been making strong moves in December as well. I guess most of the ERC20 tokens have been following a similar trend. EOS also is gaining bullish momentum as confirmed by the DMI and is looking like it is about to turn upwards on the MACD. EOS is coming out of a squeeze it looks to me like it is going to close above the flag and make rally to another high. Also EOS looks like it is in a 4th corrective wave and about to exit to the fifth, I suspect EOS will make new highs like QTUM. The EOS/BTC pair previous high was 0.000696 and if that is broken then we are looking at 0.000727 and 0.000757 as our profit targets.

Larger Image Here

LEND

ETHLend(LEND) is an interesting one. It is a new coin and just released in December on most exchanges. It is a decentralized app where users can set their own lending and borrowing conditions that are mutually agreed on before transacting. I missed the initial pump on this on but it's already up over 100% in the past 3 days. Anyways right now LEND is overbought, and just today hit an all-time high. It looks like it just finished 5 waves up and it will be making an ABC correction down. on the LEND/BTC pair we are looking at a correction to around 0.00001379, 0.00001172 or 0.00000965. I presume the latter two targets.

Larger Image Here