Bitcoin Cash, Litecoin, EOS and Stellar
Lumen price analysis on 04/27/2020
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| Bitcoin Cash, Litecoin, EOS and Stellar Lumen price analysis on 04/27/2020 |
Altcoins did not support the growth of the BTC price, and remained in the lateral range. Over the weekend, the price of bitcoin cash consolidated in the blue lateral range at the POC line level (240.03 USD). On Sunday, buyers tried to form a bullish momentum and break through to the upper border of the blue corridor, but they were not able to overcome the resistance at around 250.00 USD.
The bearish response returned the BCH price to the Point Of Control line by the end of the day. Buyers still have a chance to test the resistance of 260.00 USD, but the Stoch RSI indicators on the daily time frame form a signal to decline.
We believe that in the first half of this week, the bears will be able to knock a pair out of the side corridor and roll back the price to the area of 200.00 USD. Last Saturday, the price of Litecoin came close to the resistance at fifty percent fbonacci level (45.82 USD) and indicated a weekly maximum at 45.60 USD.
On Sunday, buyers made another attempt to test the 50% Fibo level (45.82 USD), but the attempt was unsuccessful. The price was unable to update the weekly high and rolled back to support 44.00 USD.
Today, sellers can roll back the price to a two-hour EMA55. If the pair can stay above the average price level, then buyers will retain the chances to test the fifty-percent level of Fibo. Otherwise, the price reduction may reach the POC line (41.92 USD). The price of EOS spent the weekend in lateral consolidation at the POC line level (2.72 USD). Tonight, the pair pierced the resistance of 2.80 USD, setting a local maximum at 2.82 USD.
Sellers quickly respond to any attempts by buyers to break through the resistance of 2.80 USD, pushing the price of EOS to the level of average prices. The two-hour EMA55 acts as support and maintains a weak recovery dynamics of the pair.
The EOS price does not succeed in updating the April maximum, set at the beginning of the month at 2.83 USD, but until the bears sold the moving average, the bulls still have chances to test the three-dollar level. On Saturday and Sunday, the Stellar price settled in a rather narrow side corridor, with support at 0.060 USD Tonight, the XLM / USD pair ignored the growth of the cryptocurrency flagship to the new April maximum and remained lying on its side.
During the day, sellers can push the average price level and test the bottom line of the uptrend. If the pair stays in the green corridor, then the chance to test the level of 0.070 USD will remain. If the bears knock the pair out of the ascending green channel, the price may return to the psychological mark of 0.050 USD.
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