Bitcoin Cash Litecoin EOS and Stellar Lumen price analysis on 04/28/2020
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Bitcoin Cash Litecoin EOS and Stellar Lumen price analysis on 04282020 |
Can buyers today continue to move in a local uptrend? Yesterday, sellers were able to sell the two-hour EMA55, but by the end of the day the price of bitcoin cash was able to return above the average level. Now the pair is balancing on the moving average EMA55 and at any moment can slip to the lower border of the blue range (230.00 USD).
Now the trading volumes are still small and yesterday's pressure from the sellers is no longer felt. During the day, buyers can try to continue to recover above the resistance of 250.00 USD. Yesterday, the bears sold support at 44.00 USD and rolled back the Litecoin price below the average price level. In the pullback, the pair tested the green line of the local uptrend.
If today buyers are not able to gain a foothold above the upper border of the purple corridor, then the next minimum should be expected in the region of the lower border of this downward channel (42.70 USD).
If the green dashed line keeps the pair in the channel of the local uptrend, then the chances to test the fifty percent fibonacci level will remain. Yesterday, sellers rolled back the price of EOS from the maximum zone below the two-hour EMA55. The dotted line of the local uptrend kept the price from further decline. In the Asian session, the price recovered slightly, but this morning again returned to supporting the trend line.
Over the past five days, only lateral movement along the equilibrium price on the POC line (2.70 USD) can be traced in the pair's dynamics. If customers manage to increase volumes, they will be able to break through the resistance of the upper border of the sidewall (2.80 USD) and test the three-dollar level. Yesterday, for almost the entire day, the XLM / USD pair was held in a narrow side corridor. At the end of the day, the price of Stellar began to rise rapidly.
At the Asian session, the bulls formed a powerful impulse, which pierced the middle trend line of the ascending channel and set an April maximum at around 0.072 USD. As a result, the capitalization of Stellar Lumen grew above $ 1.4 billion, which allowed the asset to take first place in the second ten of the most capitalized crypto assets.
We believe that after a short pullback to the area of 0.066 USD, buyers will try to continue to grow in order to break through the resistance of the average trend line.
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