Bitcoin Cash, Litecoin, EOS and Stellar Lumen price analysis on 05/06/2020
 |
Bitcoin Cash Litecoin EOS and Stellar Lumen price analysis |
Will buyers be able to gain a foothold today above the average price level? Yesterday, buyers tried to return to the rising channel, but could not overcome the resistance of the green dotted trend line. Sellers pushed the price of bitcoin cash to the POC indicator line (239.50 USD), however, until this morning, the pair was able to recover to the two-hour EMA55.
If during the day buyers consolidate above the level of the moving average, then growth may continue to the resistance of 260.00 USD.
If sellers resume pressure and break through the support of the Point Of Control line (239.50 USD), then the daily minimum should be expected near the lower border of the blue range. Buyers did not have enough strength yesterday to break through the resistance of the dotted trend line and the bears pushed Litecoin price below the two-hour EMA55. The pair was supported by the level of 50% Fibo (45.83 USD). From it, the pair slowly recovered to the region of average prices, but the recovery took place at very low volumes.
If the volume of purchases can be increased, then the price could overcome the green trend line and set a daily maximum around 50.00 USD.
If the volumes cannot be increased, then the LTC / USD pair will not be able to test the dashed trend line, and the bearish impulse can break through the support of the fifty percent fibonacci level, and the LTC price will reach a minimum around 44.00 USD. Yesterday morning, buyers were unable to overcome the resistance of the two-hour moving average EMA55. In the afternoon, sellers tried to roll back the EOS price, but the POC indicator line (2.71 USD) balanced the volumes of sales and purchases. The decline stopped, and today the pair has recovered to the region of average prices.
If buyers succeed in continuing the recovery, then the price can again test the powerful three-dollar resistance. If sellers resume pressure, they will roll back the price to support 2.60 USD. Yesterday morning, buyers were unable to continue recovering the Stellar price. After a local maximum near the 0.075 USD mark, sellers were able to pierce the two-hour EMA55 level, but the moving average kept the pair from further pullback.
If buyers can take advantage of the support of the average price level, then growth in the area of 0.080 USD is possible. If sales volumes increase, then the bears will continue to roll back to the lower border of the green ascending channel.
#Analysis #Cryptocurrency