Analysis of the prices of Bitcoin Cash, Litecoin, Cardano, EOS and Stellar for 08/10/2020

Until the end of last week, altcoin prices were unable to demonstrate growth and were atconsolidation. The exception was the ChainLink price, which renewed its all-time high.

BCH / USD

Last weekend, trading volumes for bitcoin cash were below average, and the price of the asset was consolidating in the area of ​​average prices. 

On Sunday evening, sellers rolled back the price to38.2% fibonocci level (289.52 USD). During the Asian session, buyers tried to take advantage of this support, but it was not possible to significantly increase the volume of purchases, so the price was unable to overcome the level of 310.00 USD. 

If today the bulls go on the attack, then growth is possible in the resistance area of ​​50% fibo (356.25 USD). Low trading volumes – will contribute to a return to support at 38.2% fibo (289.52 USD). 

LTC / USD

Last Friday, the Litecoin price failedstay above the 78.6% fibo level (59.31 USD) and spent the entire weekend in the area of ​​average prices. At this time, the price of ChainLink resumed its July growth and surpassed the psychological mark of 10.00 USD. The rapid growth continued until the pair was able to test the level of 14.00 USD. 

The asset's capitalization reached more than $4.$8 billion and allowed to displace Litecoin from the seventh position in the CoinMarketCap rating. If today LTC buyers are able to increase volumes, then the price of the asset will again recover above the resistance of 78.6% fibo (59.31 USD), and Litecoin will compete with ChainLink for its place in the ranking. 

If sellers push through the two-hour EMA55, then the LTC price may roll back quite deeply, to the support of 61.8% fib (51.39 USD). 

ADA / USD

Over the weekend, the Cardano price tried to overcome the key resistance of 0.150 USD, which has been keeping the pair in a wide sideways corridor since the end of July. 

On Sunday, the price of ADA broke through this level, butcould not stay above it, marking a local maximum at 0.153 USD. The pair rolled back to the two-hour EMA55 area, where it is still trying to find support for another attempt at a bullish breakout to the annual high zone. 

EOS / USD

Last Friday, the EOS price failed to stay in the ascending channel above the blue trend line. The bears pushed through the average price level and with a strong impulse tested the support of 2.80 USD. 

The response from buyers allowed the EOS price to quickly rebound to the psychological level of 3.00 USD and stay in this area until the end of the week. 

 This morning the pair recovered to the linePOC (3.06 USD). Judging by the small volumes, the pair may remain in this area until the end of the day. If buyers increase volumes, they will be able to return to the ascending channel above the dotted trend line. 

XLM / USD

On Friday, the price of Stellar retreated topsychological support of 0.100 USD, which the sellers were unable to push through. Before the end of the week, buyers managed to restore the price to the area of ​​average prices and gain a foothold there in consolidation. 

We believe that today, at small volumes, such consolidation will continue.