Analysis of Bitcoin Cash ABC, Litecoin, EOS and Stellar Lumen on 02/11/2020

Altcoin prices have consolidated at the average price level. Will the bears be able to increase the pressure?

BCH / USD

Yesterday the bears failed to push through the two-hourEMA55, and the pair consolidated for a long time on the POC line (440.45 USD). In the evening, buyers tried to restore the price to the annual maximum zone, but failed to break through the resistance of 458.00 USD.

When volumes declined, the pair returned to the linePoint Of Control. If the average price level keeps the BCH price from rolling back today, then the sideways consolidation between the moving average and the resistance of 458.00 USD will continue. Otherwise, the price will drop to the 61.8% Fibo level (422.98 USD).

LTC / USD

Yesterday's bearish momentum pushed through the two-hourmoving average EMA55, and the pair set a daily low around the 72.00 USD mark. However, when trading volumes decreased, the decline stopped and buyers restored the price to the average price level.

It was not possible to consolidate above this level, andthe pair is still consolidating in a narrow range. We believe that buyers will try to break above the resistance of 74.00 USD today, but the moving average may stop further recovery of the Litecoin price, and the pair will roll back to the support of 100% Fibonacci (69.40 USD).

EOS / USD

Yesterday morning the price of EOS rolled back from the areaannual maximum to the hourly EMA55 level. Sellers had to work hard to push through the support of this moving average and fix the minimum at 4.73 USD.

Sales volumes declined in the afternoonand the pair managed to recover above the average price level. The Asian session was not very active and the price consolidated in a narrow range at the hourly EMA55 level.

Today, buyers will try to overcome the resistance at 5.00 USD once again. If the growth attempt is not supported by large volumes, the pair will not be able to overcome the level.five dollars per coin. 

XLM / USD

Yesterday, at the daily low of 0.069 USD, selling volumes began to taper off and Stellar's decline stopped.

By the end of the day, buyers were able to recover to the area of ​​average prices, and the XLM/USD pair consolidated in the area of ​​the two-hour EMA55.

Tonight, volumes continued to decline and the price dipped into yesterday's low. If the bears resume active sales, in the near future the price may go down to the support of 0.065 USD.