Analysis of Bitcoin Cash, Stellar Lumen, EOS and Litecoin as of November 16, 2018

On the eve of the weekend, trading volumes will gradually fade and altcoins will consolidate in a sideways range, near the nearest support levels

BCH/USD

Yesterday, another bearish wave broke through the lower boundary of the yellow corridor and set a new absolute minimum in the history of Bitcoin Cash at the round mark of 350.00 USD. Will this be the latest low for BTC price? After the price pulled back to support at 380.00 USD tonight, the pair is trying to consolidate near this level. But crisis of confidence in the Bitcoin Cash developer community continues to keep the pair under bearish pressure and we believe that the price may roll back to a new historical low.    

XLM/USD

Yesterday, in the first half of the day, the price of Stellar Lumen was declining within the purple corridor. From the low at 0.215 USD, the price began to recover, but before the end of the day it was not possible to break through the upper border of the purple corridor. Tonight this resistance was overcome and now Lumen is consolidating just below the local maximum, which was set at 0.251 USD. Following the general market trend, the XLM price may decline and return to the purple corridor. 

EOS/USD

Yesterday’s decline in the price of EOS stopped at 4.290 USD. From this level, the pair recovered to the support of 4.600 USD, but this still did not allow EOS to return to the honorable fifth place in the CoinMarketCap ranking in terms of capitalization. The gap between EOS and XLM remains minimal and EOS will still compete for its place in the sun after the market decline stops. Today we should expect the pair to decline towards the support of 4.400 USD. Perhaps over the weekend, market volatility will decrease and the price will be able to consolidate in a sideways range near this level.

LTC/USD

Yesterday, the Litecoin price updated its annual minimum to the level of 39.53 USD, and has now recovered to the area of 42 dollars per light, where yesterday it consolidated in a narrowing range. While trading volumes are very small, we believe that they will not increase much this coming weekend, so the price will continue to struggle in this narrow corridor.