Analysis of the prices of Bitcoin Cash, Litecoin, Cardano, EOS and Stellar for 08/05/2020

The recovery of the altcoin market that has begun is stuck in a flat at the level of average prices.Will the bulls be able to pull it out?prices from sideways consolidation and refresh August highs?

BCH / USD

Yesterday afternoon, sellers pulled the price of bitcoin cash below the 38.2% Fib level (289.52 USD).However, the decline was not supported by large sales volumes and did not develop further towards the support of 260.00 USD. 

Due to low market activity, the pair is located in a narrow sideways corridor, just below the level of average prices.If buyers fail to recover the BCH price above the two-hour EMA55 today, the decline will continue to the upper border of the blue corridor. 

LTC / USD

Yesterday, trading volumes gradually decreased, and in the afternoon the LTC/USD pair consolidated in a narrow range at the level of average prices. 

Consolidation continued until this morning, and during the day, buyers canattempt to restore the price above the level of 78.6% Fib (59.31 USD). 

If the price fails to break through the resistance of this Fibonacci level, the price will retrace to the support of 54.00 USD. 

ADA / USD

Yesterday, sellers failed to push through the two-hour EMA55.Buyers, taking advantage of the support of this moving average, tried to restore the price of Cardano, but their efforts were limited to the resistance of 0.150 USD. 

Today, buyers will try to continue the recovery and break through the key level of 0.150 USD.If successful, the pair will set a new yearly high around 0.160 USD. 

If it fails to break above the resistance of 0.150 USD, the pair will return to the area of average prices. 

EOS / USD

Yesterday, sellers managed to break through the $3 support level several times, but the pair was able to stay in a sideways range at the level of average prices. 

If buyers are able to recover the EOS price above the dotted trend line today, they will maintainchances of recovering to a four-month high. 

If the bears increase the pressure and knock the pair out of the flat, the price will roll back to the support of 2.80 USD. 

XLM / USD

Yesterday, in the first half of the day, the price of Stellar began to gradually recover to the resistance of 0.110 USD. 

In the second half of the day, on the Kraken exchange, as a result of large multidirectional trades within a couple of minutesThe price updated the annual maximum around 0.120 USD and thenThen, as if nothing had happened, the pair returned to the previous level in the resistance area of 0.110 USD.Such a sharp jump in volatility is not market-based and has not been recorded on other exchanges. 

If we talk about the general trend of the price of Stellar oncryptocurrency market, the pair failed to gain a foothold above the resistance of 0.110 USD, but buyers can continue to recover and renew the annual maximum in the area of ​​0.120 USD.