Analysis of Bitcoin Cash ABC, Litecoin, EOS and Stellar Lumen on 10.29.2019

The morning bullish momentum of the market helped only the BCH/USD pair to update its high. The rest of the altcoins turned out to be morerestrained in growth.

BCH / USD

Yesterday the Control Point line (260.00 USD) provided support for the pair, and during the day the BCH price tested the resistance of 275.00 USD several times. However, we managed to overcome it only this morning. A powerful bullish impulse forced the price of Bitcoin Cash to break through the resistance level of 38.2% fibo (289.51 USD) and set a maximum around 300.00 USD. 

Now the pair has rolled back from the updated monthlyhigh and is trying to consolidate below the 38.2% fibonacci level. If buyers continue to pump the BCH price, then the next high should probably be expected in the area of ​​305.00 USD. 

But we believe that with average volumes, the rollback from the current maximum will continue, and the price will return to the level of 275.00 USD.

LTC / USD
 

Yesterday the LTC price hovered in a flat between hourlyEMA55 and 78.6% fib level (59.31USD). This morning, the resistance at the 78.6% Fibonacci level was overcome, and the pair consolidated in the area of ​​60.00 USD. 

During the day, attempts by buyers are possibleupdate the monthly high, but we believe that the price will only be able to test the level of 62.00 USD. At the end of the day, the pair will roll back to the average price area. 

EOS / USD

Yesterday, sellers pushed through the support of 3.30 USD and tested the hourly EMA55. Tonight this level of average prices supported buyers, and the pair recovered to the area of ​​3.40 USD. 

Resistance 3.650 USD remains out of the reach of buyers for now, but if the bulls manage to increase volumes during the Asian session, they could test their target level and update the monthly maximum. 

On an eight-hour time frame, the Stoch RSI indicatorgenerates a signal to decline, which is confirmed by MACD. Will buyers manage to update the maximum? It is possible that the price will continue to roll back from the current level and return to the area of ​​average prices.

XLM / USD

Stellar Lumen lost its tenth position inCoinMarketCap rating by capitalization level and gave way to TRON. Justin Sun on the social network intrigued market participants with a message about cooperation with some “Mega Corporation”. However, we believe that Stellar will soon be able to regain its rightful place in the TOP 10. 

This morning, the XLM price has recovered from the hourly EMA55 level above the orange trend line and is trying to consolidate around the 0.066 USD mark. 

If buyers can continue the recovery, then a re-test of the level of 0.069 USD is possible. Sellers will certainly try to return the price to the EMA55 moving average area.