June 16, 2024

Analysis of Bitcoin Cash ABC, Litecoin, EOS and Stellar Lumen on 12/03/2019

Analysis of Bitcoin Cash ABC, Litecoin, EOS and Stellar Lumen on 12/03/2019

After a short-term consolidation, buyers will continue to try to restore altcoin prices.

BCH / USDAnalysis of Bitcoin Cash ABC, Litecoin, EOS and Stellar Lumen on 12/03/2019

Yesterday, the price of BCH found support around 210.00 USD.The pair was held from further decline by not too strong bullish momentum, which allowed the price to recover to the hourly EMA55. 

So far, it has not been possible to break through the resistance of the average price level, and the pair is located in a narrowing corridor between this resistance level and the support of the POC line (212.40 USD). 

We believe that today trading volumes will remain at a low level, and the pair will continue toLateral movement in a narrowing corridor. 

LTC / USDAnalysis of Bitcoin Cash ABC, Litecoin, EOS and Stellar Lumen on 12/03/2019

Yesterday, the daily local low was set around 45.00 USD.From this area, buyers tried to continue the recovery, but they barely managed to break through the resistance of the 50% Fib level (45.82 USD), and failed to test the hourly EMA55 .

The recovery was supported by volumes aboveaverage level, but when the volumes decreased, the pair settled into a sideways range with the upper limit at the 50% fib level (45.82 USD). The role of the lower border of the range can be played by the Point Of Control line, which is currently at around 45.20 USD. 

We believe that today there is movement in the side corridorwill continue and the pair will meet support in the area of ​​the POC line. If buyers want to expand the consolidation range, then their appetites will be limited from above by the moving average EMA55. 

EOS / USDAnalysis of Bitcoin Cash ABC, Litecoin, EOS and Stellar Lumen on 12/03/2019

Yesterday in the area of ​​local minimum 2.At 66 USD, the price of EOS turned towards recovery. However, the bulls were unable to increase volumes, the recovery was sluggish, and after a re-test of the average price level, the pair smoothly went into flat. 

We believe that after short-term consolidationThe price recovery will continue to the target bullish level of 3.05 USD. Most likely, it will be possible to test this level only in the second half of this week. 

XLM / USDAnalysis of Bitcoin Cash ABC, Litecoin, EOS and Stellar Lumen on 12/03/2019

Yesterday, the pair tried to recover from the support level of 0.055 USD to the hourly EMA55 level. The recovery was not supported by volumes and the pair entered consolidation into a side corridor. 

Today, consolidation is expected to continue. If sellers can sell support of 0.055 USD, then there may be a reciprocal surge in activity of buyers who can seize the initiative and break through the upper border of the side corridor. In this case, the maximum is possible in the area of ​​the POC line (0.059 USD).