Analysis of Bitcoin Cash ABC, Litecoin, EOS and Stellar Lumen on 03/10/2020

Altcoins price cuts stopped, but not over yet.

BCH / USD

Over the past weekendCryptocurrency market capitalization has shrunkby about $40 billion. The price of BCH fell by about 26% and stopped its decline in the support area of ​​260.00 USD. The upper boundary of the blue range $230 - $260 keeps the pair in a narrow consolidation.

Today's efforts by buyers to restore the pricewill be limited by resistance at 284.00 USD, but sellers will soon be able to push through the upper boundary of the range and test support at 230.00 USD.

LTC / USD

Litecoin's price failed to rise over the weekendtest the resistance of 64.00 USD. On Saturday morning, a weekly high was set at 63.98 USD, and in the evening the price fell below the POC line (60.57 USD). On Sunday, the decline reached the January support of 54.00 USD.

At the beginning of this week, the pair broke through level 61.8% Fibo (51.38 USD) and stopped falling only around the 50.00 USD mark. Yesterday, sellers marked a local minimum at 46.21 USD, after which the pair was able to recover a little.

As we can see on the four-hour chart, the recovery is quite low, and if buyers try to continue it today, their efforts will be limited at the 61.8% Fibonacci level.

In the near future, we should expect a continuation of the decline and consolidation of the Litecoin price in a narrow range, between the blue support of 44.00 USD and the 50% Fibonacci level.

EOS / USD

Last Saturday, the EOS/USD pair failed toreach the four-dollar level. After the buyers ran out of strength around the 3.80 USD mark, the bears returned the pair to the equilibrium price on the POC line (3.57 USD). 

Bear pressure intensified on Monday and pricefailed to support 3.05 USD. This level was able to stop the rapid decline in the price of EOS, and the pair entrenched over this blue support. We believe that for a long time the pair will not be able to hold above three dollars per coin, and will soon roll back to the weekly low zone, which was set at 2.86 USD yesterday.

XLM / USD

On Saturday, Stellar price failed to test the POC line (0.062 USD). By the end of the week, bearish pressure pulled the XLM price back below the support of 0.053 USD.

On Monday, sellers already managed to mark a weekly minimum at 0.048 USD, but buyers were able to return to the purple support at 0.053 USD.

Now the pair is trying to stay in narrow consolidation above the downtrend line, but we believe that today the price of Lumen will fall back to the zone of minimum 0.048 USD.