Analysis of Bitcoin Cash ABC, Litecoin, EOS and Stellar Lumen on 12/17/2019

The market decline has reached new lows. Today we are trying to determine annual support levels.

BCH / USD

While trading volumes were low, the BCH/USD pair remained in a sideways range with support at 203.50 USD. 

Yesterday's recovery did not continueabove the average price level. From the two-hour EMA55, the bears pushed the price below the psychological level of 200.00 USD, and at the end of the day they set a minimum at 193.24 USD. 

Overnight the price rebounded to the area of ​​198.00 USD, but it is not yet possible to gain a foothold there in consolidation. Even on small volumes, the pair rolls back to the zone of yesterday’s low. We believe that the December minimum may soon reach 191.00 USD. 

LTC / USD

Yesterday started calmly, trading took placewith a slight advantage on the side of sellers. The price gradually decreased, but in the evening the bearish pressure intensified and the pair broke through the support level of 38.2% fib (40.26 USD). The daily low is set at 38.96 USD. 

There was a short rebound overnight, but the price was unable to overcome the 38.2% fibonacci level. Today, selling pressure will resume and the price will continue to decline to the support area of ​​37.00 USD. 

 

EOS / USD

Yesterday at the end of the day the pair broke through the lowerthe border of a wide sideways range of 2.50 USD and continued to fall, below the low of November 25 (2.35 USD). This time the monthly low was set at 2.28 USD. 

We believe that the annual bottom for the EOS price may be located somewhere around the support area of ​​2.24 USD. 

XLM / USD

Yesterday, Stellar's annual minimum was updated to 0.046 USD, and today the decline continues and the bottom is not yet visible... Stellar Lumen's capitalization has fallen below $1 billion. 

We believe that the decline may slow down around the level of 0.045 USD, and signs of recovery will appear from the level of 0.044 USD.