Bitcoin Cash, Litecoin, EOS and Stellar Lumen price analysis on 04/29/2020
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Bitcoin Cash, Litecoin, EOS and Stellar Lumen price analysis on 04/29/2020 |
Today, altcoin prices can update April highs and turn around to decline. Yesterday, the price of bitcoin cash remained in consolidation at the two-hour EMA55. Tonight, buyers tried to continue to rise above the resistance of 250.00 USD, but in the morning they were able to reach only 246.00 USD.
If today during the day they manage to continue the price increase, then the couple could test the upper border of the blue corridor.
However, on the hourly time frame, the Stoch RSI indicator lines form a signal to decline. Therefore, in the near future we should expect a reversal and rollback below the support of the green dotted trend line. Perhaps the lower border of the side range can stop the fall. Yesterday, the green dotted line of the local uptrend kept the pair from falling in the purple channel. With great difficulty, buyers were able to overcome the upper limit of the downward channel, and already tonight they continued to grow to a fifty-percent level of fibonacci.
In the morning, a local maximum is set at around 46.60 USD. We believe that buyers intend to continue to grow in order to update the April maximum, set at the beginning of the month at 46.89 USD. A new monthly maximum can be expected in the area of 48.00 USD. Somewhere in this area, a downward reversal is possible. Yesterday, during the day, the EOS / USD pair consolidated in the lateral range at the level of average prices. The sellers managed to pierce the two-hour EMA55, but the support of the dotted trend line did not allow the price to drop out of the upward channel.
Tonight, buyers tried to get out of the side range, but in the morning they got stuck in its upper border at the level of 2.80 USD.
If growth can be continued, the pair will update the April maximum in the area of the three-dollar level, after which the price will turn around to decline. We believe the rollback is possible to support 2.60 USD. Yesterday, the price of Stellar rolled back to the area of 0.067 USD, and for a long time buyers did not dare to storm the middle trend line. The pair hovered in a narrow sideways at the level of 0.068 USD and only this morning you can notice a slow growth in the zone of yesterday's maximum.
Today it is possible to update the April maximum in the area of 0.075 USD and rollback to the level of average prices.
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