After yesterday's minimum values on the price chart, recovery has begun. How long will it last?
BCH/USD
Yesterday, the price of Bitcoin Cash tested the support level of 38.2% fib (975.92 USD) and set a monthly minimum at 969.00 USD.
At this point, the stochastic “drew” a buy signal. The price began to gradually recover and, most likely, will hit the fifty percent resistance level. Market sentiment can significantly influence the dynamics of the recovery. And, most likely, with a successful combination of fundamental events, the pair would be able to break through this resistance level. In any case, those who intend to open short positions on BCH need to wait for the breakdown of the 50% fib (1084.00 USD) and monitor the stochastic reading. If it is not in the overbought zone, then it is too early to enter the market!
EOS/USD
Yesterday, after breaking through the support of 38.2% fib (12.12 USD), the EOS price reached the level of 11.22, on the hourly chart, indicated by the blue line. For eight hours in a row, the price tested this level moving sideways, after which it was able to break lower and set a minimum at 10.45 USD.
After this, a gradual recovery of the pair began and the blue line 11.22 USD, like a magnet, attracted it as a consolidation level. At the moment, after the next re-test, the price continues to narrow the amplitude of fluctuations near this line. It is not clear whether the recovery above the average price level will last due to the discrepancies in the stochastic readings on different hourly time frames. For now, it is better to refrain from entering the market, waiting for the end of the recovery and the continuation of the downtrend.
LTC/USD
Yesterday the pair did not want to fall below 125 USD for a long time, but in the end it was strong bearish the impulse broke through the 23.6% fibo level (123.00 USD) and set a minimum at a depth of 116.00 USD. After this, the LTC/USD pair recovered slightly to the price area of 120 dollars for Litecoin, but, judging by the stochastic readings, the recovery is ending and in the near future the decline will resume to the zero fibonacci level, at 110.00 USD
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