Analysis of Bitcoin Cash, EOS and Litecoin as of 08/03/2018

Altcoins have restored their temporarily lost correlation with the BTC/USD pair and are now demonstrating a synchronized decline.

BCH/USD

Yesterday, during the day, the price was in a wide range of $750 - $725. Today, the lower limit of this range was broken and the price managed to fix the daily minimum at around 700.00 USD. We believe that the pair will return to yesterday’s wide range and continue moving in this corridor. 

EOS/USD

The level of 6.969 USD did its best to keep the EOS/USD pair from declining yesterday, but today the price set a minimum at 6.84 USD. At the moment, EOS has returned to yesterday's sideways range where it can spend most of the day today. 

The support of 6.969 USD has already repelled the attacks of the bears several times, but with the next impulse, it will not withstand the pressure and then the price will have to be caught in the area of ​​6.60 USD. Although this is a reversal area, a stronger support level is located at 6.30 USD. We believe that the bears achieving this goal today is an unlikely event. 

LTC/USD

Yesterday Litecoin rolled back to the level of 75.85 USD, and today it sank even lower, consolidating above the level of 75 dollars per lite. The main question that concerns traders regarding this financial instrument is whether the annual minimum for the LTC/USD pair, which was set on June 29, will be updated. 

The last reversal level, which is on the way to this low, is located in the area of ​​74.60 USD. If it does not work to reverse the pair, then the price may actually test the zero fibonacci level of 72.50 USD.  

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