February 27, 2024

Analysis of Bitcoin Cash ABC, Litecoin, EOS and Stellar Lumen on 02/04/2020

Analysis of Bitcoin Cash ABC, Litecoin, EOS and Stellar Lumen on 02/04/2020

A delay in consolidation at the level of average prices can trigger a bearish breakthrough.

BCH / USDAnalysis of Bitcoin Cash ABC, Litecoin, EOS and Stellar Lumen on 02/04/2020

Yesterday's auctionfor Bitcoin Cash ABC were quite sluggish.The pair remained at the level of average prices, in a narrowing blue range. If buyers are able to increase volumes, then the bulls will break through the psychological level of 400.00 USD. 

If the consolidation drags on at low volumes, then a bearish breakthrough is possible to the level of 50% Fibo (356.24 USD).

LTC / USDAnalysis of Bitcoin Cash ABC, Litecoin, EOS and Stellar Lumen on 02/04/2020

Yesterday, the hourly moving average EMA55 was unable to keep the LTC price from falling, and until the evening, sellers set a local minimum at 68.66 USD. 

Overnight attempt by buyers to recoverthe area of ​​average prices did not allow the price to gain a foothold in this area. In the morning, the pair sank even lower to the level of 68.00 USD. If the decline cannot be stopped, then today the pullback may reach the level of 66.00 USD. 

EOS / USDAnalysis of Bitcoin Cash ABC, Litecoin, EOS and Stellar Lumen on 02/04/2020

Market activity for the EOS/USD pair was low yesterday. With decreasing volumes, the price of the asset slowly decreased towards the support of 4.10 USD, but did not reach this level before the end of the day. 

If today buyers fail to increase volumes, then the price will not be able to overcome the resistance of the hourly EMA55 and the decline will continue to the support area of ​​4.10 USD. 

XLM / USDAnalysis of Bitcoin Cash ABC, Litecoin, EOS and Stellar Lumen on 02/04/2020

Yesterday, the hourly EMA55 failed to cope with support, andthe price of Stellar fell below the average price level. There was no strong pressure from sellers, so the pair did not reach the POC line (0.062 USD) before the end of the day. 

At night, buyers tried to return the price to the resistance area of ​​0.065 USD, but the growth was not supported by volumes and in the morning the pair rolled back to yesterday’s local minimum. 

Today, buyers are trying to break above average prices. If they fail to overcome the resistance of the moving average EMA55, then the price will test the Point Of Control level (0.062 USD).