The altcoin market continues to consolidate. None of the pairs in question went beyond the side corridor
BCH/USD
As expected, Bitcoin Cash spent yesterday in a flat, although a significant narrowing of the consolidation range has not yet been observed. Today, on low volumes, the sideways trend will continue.
EOS/USD
The EOS price yesterday could not break through the zero fibonacci level of 5.509 USD in order to test the upper border of the triangle. Thus, the amplitude of the pair’s sideways fluctuations decreased and the consolidation range narrowed even more. A breakout of the lower border of the triangle is already close, but it is difficult to say exactly when this will happen. We believe that today the movement in the flat will continue.
XLM/USD
Yesterday, moving within a side corridor, the price of Stellar Lumen decreased towards support from the upper border of the purple corridor. The moving average EMA55 kept the pair from re-testing this level and tonight the price recovered to its previous level. The narrow sideways movement will most likely continue this afternoon.
LTC/USD
Litecoin price consolidated at 23.6% fib (52.32 USD). It was not possible to break through this Fibonacci level and test the resistance of 53.44 USD during the day. Today the sideways trend will continue. It is likely that its range may narrow further.
You May Also Like
Analysis of cryptocurrency pairs BTC/USD, XRP/USD and ETH/USD as of 12/01/2018
Yesterday's price drawdown and consolidation in a narrow range did not completely destroy the chances of recovery, but a break below critical support levels is a cancellation of the correction
Analysis of Stellar Lumen, EOS, Litecoin and Bitcoin Cash as of 12/17/2018
Over the weekend, altcoins were mostly in a sideways range. But now, after a short recovery, the downtrend may resume
