June 16, 2024

Analysis of Bitcoin Cash ABC, Litecoin, EOS and Stellar Lumen on 10/23/2019

Analysis of Bitcoin Cash ABC, Litecoin, EOS and Stellar Lumen on 10/23/2019

After an intense decline, some consolidation of the market is visible. After trying to recover,decline will continue to new levels of support.

BCH / USDAnalysis of Bitcoin Cash ABC, Litecoin, EOS and Stellar Lumen on 10/23/2019

Yesterday in the first half of the day the pair consolidated around the POC line (232.03 USD). In the afternoon, the bears seized the initiative and returned the price to the support of 230.00 USD. 

Until late in the evening between buyers andsellers were fighting hard for this line, but by the end of the day the bears rolled the pair back to the level of average prices. At night, volumes declined, and the decline stopped until morning.

This morning a strong bullish momentum has establishedlocal minimum around 215.00 USD. Now the pair is trying to consolidate in a narrow range of $218 – $220. If buyers are unable to break above 220.00 USD, then the decline will continue to the area around 210.00 USD. 

LTC / USDAnalysis of Bitcoin Cash ABC, Litecoin, EOS and Stellar Lumen on 10/23/2019
   

Yesterday afternoon, sellers were able to push purplea trend line that helped maintain a positive trend for the LTC / USD pair. Buyers tried to return the price above this level, but at the end of the day the bears rolled back the pair to support 54.00 USD.

At night the volumes decreased, but the decrease did notstopped. This morning, selling pressure intensified, and the price continued to decline even faster towards the support of 52.00 USD. This level stopped the sharp decline, and the LTC price briefly settled into consolidation and is trying to recover. 

We believe that the pair will test in the near futurebears target level – 61.8% fib (51.38 USD) and after that it will begin to recover a little. Tentatively, this could be the level of 52.00 USD or, if we look more optimistically, buyers may be able to test 54.00 USD.  

EOS / USDAnalysis of Bitcoin Cash ABC, Litecoin, EOS and Stellar Lumen on 10/23/2019

Yesterday morning, buyers pierced the levelresistance at 3.00 USD and set a weekly high at 3.03 USD. It was not possible to gain a foothold above the three-dollar level, and until the end of the day the pair rolled back to the purple support trend line. 

At night, bearish pressure intensified, the pair broke through two-week support and rolled back to the minimum of 2.84 USD. 

Now the price is consolidating in a narrow range, and buyers will try to restore the price during the day. We believe that they will be able to pull up the price to the hourly EMA55. After that, the decline will resume.

XLM / USDAnalysis of Bitcoin Cash ABC, Litecoin, EOS and Stellar Lumen on 10/23/2019

This morning, a fairly strong bearish impulse pushed through the support of the orange trend line, which has been connecting the increasing lows of the Stellar price since the end of September. 

The couple showed more than half a monthpositive dynamics, and yesterday, after a reversal from the resistance level of 0.065 USD, it began an intensive decline. We believe that now it will not be limited to 0.062 USD, but will continue to the area of ​​0.060 USD.