Technical indicators show a decline in prices, but are still in the neutral zone, and therefore it is not yet clear whether the sideways movement of the altcoin market will end today.
BCH/USD
For Bitcoin Cash, yesterday was quiet and calm. The price slowly rolled back from Monday’s high until it began to consolidate slightly above the average price level, in the area of 515.00 USD. Tonight the decline continued to the psychological support of 500.00 USD.
Will this long sideways trend stop today and will the bears be able to push through this rather strong support level?
There are no special fundamental information reasons for exiting the sideways range yet. The expansion of the borders of the sideways trend will indicate that today market participants have not yet decided on the further vector of the BCH price dynamics.
EOS/USD
As expected, the price of EOS could not stay in the green corridor of the uptrend for long and yesterday broke through its lower border, heading towards the level of average prices. If the activity of bears in the altcoin market does not have a correlation effect on the EOS/USD pair, then today the price will continue to move sideways.
XLM/USD
Stellar Lumen has completely rolled back to the original level of average prices, from which it began to recover on Monday. We believe that today the decline will continue and its depth will entirely depend on the strength of support for the upper border of the purple corridor 0.238 USD. In theory, at such volumes, it is still able to withstand bearish pressure and maintain sideways movement.
LTC/USD
The general decline in the altcoin market has not yet begun, and therefore pullbacks within the side corridor are still completely predictable. But as soon as trading volumes begin to increase like an avalanche, the support of 38.2% fibo (55.58 USD) will no longer be able to keep Litecoin from declining and the price will break through the lower limit of the wide corridor of 53.44 USD.
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