Analysis of Bitcoin Cash ABC, Litecoin, EOS and Stellar Lumen on 10/16/2019

Altcoin prices stabilized after yesterday's bearish momentum

BCH / USD

Yesterday the POC level (222.00 USD) could not keep the price of Bitcon Cash ABC from the minimum at 217.00 USD. However, tonight the pair recovered intensively and returned to the hourly EMA55 level. 

In the morning there is a slight decrease –We believe that it is directed to the equilibrium price zone on the Control Point line (222.00 USD). Perhaps the pair intends to gain a foothold in consolidation in this area. 

LTC / USD

POC level (55.05 USD) was unable to stop the bearish momentum, which pulled back the Litecoin price to the support of 54.00 USD. Fluctuations in the LTC price from yesterday's powerful impulse began to fade only this morning. 

The pair managed to gain a foothold on the Control Point line(55.05 USD). In the first half of the day, while trading volumes are low, the price will continue to consolidate in this area. In the evening, the LTC price will again drop to the support of 54.00 USD. 

EOS / USD

Yesterday in the first half of the day, buyers heldEOS price below hourly EMA55. In the evening, a strong bearish impulse broke through the support of 3.05 USD and set the daily low at 2.82 USD. 

The rebound was quite high, the pair managed to stabilize at the level of 2.97 USD. Today we should expect consolidation in the range of $2.93 – $3.00

XLM / USD
 

Yesterday, bearish pressure intensified, and the price of Stellar Lumen rolled back from the level of 0.065 USD to the area of ​​the POC line (0.062 USD). Over the past night, buyers restored the pair to the average price area. 

Today, at the hourly EMA55 level, consolidation of the pair is possible. The moving average will not be able to keep the XLM price flat for a long time. Soon the decline may resume to around 0.060 USD.