Bitcoin Cash Litecoin EOS and Stellar Lumen price analysis on 05/04/2020
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| Bitcoin Cash Litecoin EOS and Stellar Lumen price analysis on 05/04/2020 Today, the continuation of the rollback is expected. At what levels will the decline stop? Last Saturday, buyers tried to continue the BCH price recovery and at the end of the day tested the upper border of the blue corridor. In the Asian session, the recovery continued and the pair was able to overcome the resistance of 260.00 USD, but on Sunday morning trading volumes decreased and the pair returned to the side range, having lost the recovery dynamics. Sellers pushed the price of bitcoin cash below the two-hour EMA55 level, but the green trend line tried for a long time to keep the pair in the upward channel, but this morning the bears broke through this support and continued the rollback. Today, during the day, the pair will reach the lower limit of the blue range, we believe that support at the level of 230.00 USD will keep the price in the side corridor. On Saturday, the price of Litecoin kept the recovery dynamics in the green upward channel. However, after a maximum around 50.00 USD, the bears rolled back the price to support the dashed trend line. It seemed that buyers could stay above the average price level, but this morning the decline continued below the rather strong support of 50% Fibo (45.82 USD). We believe that if the fall stops at around 44.00 USD, then the chances of continuing the bull race will continue. Otherwise, the pair will return to the POC line, which almost coincides with the support of 38.2% Fibo (40.26 USD). On Saturday, buyers could not overcome the level of three-dollar resistance, and trading volumes fell sharply. At lower volumes, the price fell slightly, and Sunday evening the pullback reached the dashed line of an uptrend. Buyers tried to maintain the recovery dynamics and stay above average prices, but the bearish pressure intensified and the pair broke through the support of the dashed trend line. This morning the pair reached the POC line (2.70 USD). Throughout the day, the decline will continue to support 2.60 USD, and if it stops the decline, the EOS price will be able to consolidate in the area of the Point Of Control indicator line (2.70 USD). On Saturday, the Stellar price continued its recovery dynamics and set a maximum near the level of 0.078 USD, but it was not possible to continue the growth on declining volumes. On Sunday, the price rolled back to the support area of the moving average EMA55, but sellers continued to decline and tested the bottom line of the uptrend. If she manages to keep the pair moving in the upward channel, then the price will return to the area of average prices. If the bears sell this support, the pair will continue to roll back to the area of 0.062 USD. Short-term consolidation is possible in this zone. #Analysis #Cryptocurrency |