Consolidation of altcoins in the market continues. All eyes are on Bitcoin, which is now a trend setter
BCH/USD
Yesterday the price of Bitcoin Cash tried to scare market players with its decline and broke through the support of 1120.00 USD. But at the low point of $1097.00, BCH began to be bought in simply huge volumes and the price recovered to its previous level. Today, purchases continued until they reached a daily high of 1171.00 USD. Roughly speaking, the pair continues to move sideways, slightly increasing the boundaries of the range.
EOS/USD
Today, the consolidation of the EOS/USD pair below the 50% fib level (1084.00 USD) continues. Yesterday’s decline in the area of average prices and return to the previous level can be ignored and attributed to the strong correlation of altcoins with Bitcoin. Here, EOS is no different from other crypto assets on the market. The consolidation will continue today, if there are no provocations to rock the market using the BTC/USD pair.
LTC/USD
Yesterday's idyll consolidation between EMA55 and 23.6% Fibo (123.00 USD) was grossly violated by the “failure” to the area of 118.00 USD. However, quite quickly the price of the LTC/USD pair returned to its original position, continuing its sideways movement. Today began with a high of 124.00 USD, but the continuation of the flat is expected under the resistance level of 23.6% fibo (123.00 USD), along the upper border of the yellow corridor. If the market mood is positive, we expect a breakdown of this resistance level and a re-test of the 38.2% fib (131.00 USD). With the negative dynamics of the BTC/USD pair, our yesterday’s scenario with the continuation of the downward trend and re-test of the zero fibonacci level remains relevant.
IOTA/USD
Yesterday, while falling, IOTA tested the 78.6% fib level (1.62 USD), but quite quickly returned to the area of average prices, having previously outlined the daily maximum at the level 1.77 USD. We believe that today IOTA, like all other altcoins, will be sideways until a clear trend signal is received.
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