Analysis of prices for ChainLink, Bitcoin Cash, Litecoin, EOS and Stellar for 08/28/2020

Yesterday, altcoin prices found support in the area of ​​weekly lows. Will buyers be able toweekend to restore the pair above the average price level?

LINK / USD

Yesterday morning Chainlink priceremained in a narrow consolidation above the average price level, but after lunch, sellers still pushed through the two-hour EMA55 and tested the support of 14.00 USD, which kept the pair in a sideways corridor. 

In the morning, buyers restored the price of LINK to the moving average EMA55, but on small volumes they cannot yet return to the narrow corridor of yesterday’s consolidation. 

We believe that until the end of the week the pair will remain within the sideways channel, the boundaries of which at the beginning of this week were marked between support at 13.00 USD and resistance at 16.00 USD. 

BCH / USD

Yesterday, the price of bitcoin cash, while declining, reached the upper limit of the blue corridor, which stopped the fall of the pair. 

As of this morning, the price has recovered slightly,and such a recovery until the end of the day may continue in the area of ​​average prices. If buyers are able to overcome the two-hour EMS55 over the weekend, then the BCH price will test the 38.2% fib (289.52 USD). 

LTC / USD

Yesterday, the LTC/USD pair sank below the ascending trend line. The decline was stopped by support at 54.00 USD. 

After a weekly low of 53.94 USD, Litecoin price has recovered into an ascending channel, above the blue trend line. If today the price manages to gain a foothold above it, then until the end of the week the recovery will continue above the 78.6% fib level (59.31 USD). 

EOS / USD

Yesterday sellers increased their pressure and broke throughpsychological support at the level of 3.00 USD. By the end of the day, the price updated the weekly low at 2.85 USD, and at night the pair recovered to its previous level. 

If buyers are unable to continue recovery above the two-hour EMA55 level, the decline will continue towards the support of 2.80 USD. 

XLM / USD

Yesterday, at the level of 0.095 USD, sellers intensified their pressure and by the end of the day they managed to reduce the price of Stellar to the support area of ​​0.091 USD. 

The weekly minimum is set at point 0.090 USD, after which buyers restored the pair to the previous level. The recovery may continue if buyers increase volumes and break through the average price level. By the end of the week, the pair could recover to the psychological level of 0.100 USD. 

If the activity of buyers is low, then the price will return to the zone of the weekly minimum.