June 19, 2024

Analysis of Bitcoin Cash ABC, Litecoin, EOS and Stellar Lumen on 03/16/2020

Analysis of Bitcoin Cash ABC, Litecoin, EOS and Stellar Lumen on 03/16/2020

Today the sideways consolidation range will widen slightly.

BCH / USDAnalysis of Bitcoin Cash ABC, Litecoin, EOS and Stellar Lumen on 03/16/2020

Over the weekend, the BCH price consolidated atconsolidation along the support level of 170.00 USD. Buyers tried to restore the pair, but could not overcome the resistance of the hourly EMA55. 

This week began with a breakthrough of the average price level, but failed to gain a foothold above the moving average EMA55. The bears again leaned on the price, and in the morning the pair rolled back to the area of ​​160.00 USD. 

Around this time in this area, buyers are againwill try to seize the initiative and return to the area of ​​average prices. If the recovery is supported by at least average volumes, then a re-test of the psychological level of 200.00 USD is possible. 

Otherwise, the pair will roll back to the support of 120.00 USD. 

LTC / USDAnalysis of Bitcoin Cash ABC, Litecoin, EOS and Stellar Lumen on 03/16/2020

Last weekend, the Litecoin price consolidated in a sideways range between the 23.6% fib support (33.37 USD) and the resistance of the hourly moving average EMA55. 

Buyers broke through this level tonightaverage prices and set a local maximum around 39.00 USD. However, sellers returned the pair to the POC line (35.21 USD) within an hour. In the morning, bearish pressure intensified and the pair sank below the support level of 23.6% fibonacci. 

We believe that around 31.00 USD, buyers will try to restore the price to the side range, where the pair could continue to fight freely in the flat.

EOS / USDAnalysis of Bitcoin Cash ABC, Litecoin, EOS and Stellar Lumen on 03/16/2020

The EOS/USD pair spent Saturday and Sunday in a narrow sideways pattern around the two-dollar level. 

Tonight, buyers broke through the average price level, but in the morning the bears rolled the pair back to the support area of ​​1.80 USD. 

We believe that today buyers will have enough strength to return the pair to the POC indicator line (2.02 USD), where the EOS price will continue to move in an expanding sideways range. 

 

XLM / USDAnalysis of Bitcoin Cash ABC, Litecoin, EOS and Stellar Lumen on 03/16/2020

Until the end of last week, trading volumes for Stellar Lumen decreased significantly, and the pair hovered in a sideways range with support around the 0.035 USD mark. 

This week began with a breakthrough into the regiondowntrend line. Buyers pierced the two-hour EMA55, but in the morning the price returned to the support of 0.035 USD. If the bearish pressure does not increase until the end of the day, this level will keep the Stellar price from further decline and the pair may return to the average price range.