Today, the altcoin market is expected to break out of its narrowing range. The most likely is a bearish breakout followed by a price recovery above the consolidation level.
BCH/USD
Bitcoin Cash spent Friday and the entire weekend sideways, limited by the resistance of the 23.6% Fibonacci level (841.95 USD). The price was kept from falling by EMA55 and the support level of 811.00 USD. On the four-hour time frame, the stochastic drew a downward signal. The price may break through the support at 811.00 USD and test the level of 787.42 USD. We believe that around this zone the price will turn upward and be able to break through the 23.6% fib resistance level (841.95 USD) and consolidate above the 860.00 USD mark.
EOS/USD
The narrowing range of EOS extended along the EMA55 moving average, lowering highs each time. The formed stochastic signal in the neutral zone indicates an upcoming decline in the pair. If the signal is not false, then a decline to the support of 7.90 USD is possible. If the pair manages to break through this support level, a reversal will occur in the area of 7.70 USD followed by recovery above the resistance level of 8.666 USD.
LTC/USD
Litecoin narrowed the sideways range along the 38.2% Fibonacci level (83.47 USD) over the weekend. Today, after a re-test of the moving average EMA55, there is a high probability of a price decline to the support of 81.40 USD. And if the support does not withstand bearish pressure, then it is possible that the pair will roll back to the next level of 23.6% fib (79.28 USD). After the decline is completed, growth will resume to the 50% fib level (86.86 USD). By the end of the week, the price may test the target at a height of 90.25 USD.
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