Analysis of Bitcoin Cash, EOS and Litecoin as of 07/19/2018

The altcoin market will move from a correction to a consolidation phase today

BCH/USD

Yesterday’s correction broke through the support level of 23.6% fib (841.95 USD). The price was unable to catch on to this support and, with a further rollback, set a minimum at 805.00 USD. Today Bitcoin Cash is trying to consolidate along the 811.00 USD level, gradually narrowing the consolidation range towards this green line. On the three-hour and four-hour charts, the stochastic in the oversold zone forms a signal for growth. It is possible that it is from this level that buyers will be able to become more active and the price will recover to the 23.6% fibonacci level (841.95 USD). 

However, it should be taken into account that on the eight-hour time frame the indicator drew a downward signal yesterday, and the price rollback to the level of 811.00 USD may not yet fully reflect the depth of the entire correction. Trading volumes are now extremely low and any intervention from the bears could push the price even below the starting level of 800.00 USD. 

EOS/USD

The EOS correction did not stop at 8.666 USD. We believe that the minimum point may be 8.36 USD. It seems that from this level the price has entered consolidation and, with the support of buyers, is able to continue recovering to the level of 8.666 USD.

LTC/USD

Yesterday, trading volumes for the LTC/USD pair were below average and therefore a correction dragged on, as we expected, to the level of $85 per light. The price set a minimum at 84.98 USD and was able to recover to 50% fib (86.86 USD). We believe that consolidation will continue in this range today. It is quite possible that the range of consolidation will expand, as this is typical for a market that has not decided on the further direction of the trend. 

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