A pullback from yesterday's highs will return altcoin prices to the nearest support level.
EOS/USD
We’ll start today’s review with EOS. Yesterday we underestimated this couple. After lunch, the EOS price was able to break through the average price level and set a maximum around 2.570 USD. From the level of two dollars per coin, purchase volumes have almost quadrupled. Tonight, already on declining volumes, the price reached a maximum at 2.630 USD.
Such dynamics allowed EOS to surpass Stellar Lumen in terms of capitalization and take its honorable fourth place in the CoinMarkertCap ranking. This is not the first time that EOS has increased its capitalization and entered into a fight with Stellar Lumen for supremacy. Let's see if today EOS will be able to retain fourth place in terms of capitalization when its price rolls back to the level of average prices (2,000 USD) Lumen yesterday was a little unfinished in its recovery. The price consolidated at the moving average level, but failed to test the 0.120 USD mark. The maximum was set at 0.118 USD. Due to the sluggish dynamics, Stellar Lumen has moved from fourth position in the top capitalized crypto assets to fifth, with a capitalization indicator of $2.1 billion. If today the pair can stay at the level of average prices, then perhaps tomorrow Lumen will regain fourth place in the ranking.
LTC/USD
Litecoin demonstrated good recovery dynamics yesterday. Consolidating below the zero fibo level (26.31 USD), the LTC price was able to overcome its resistance and test the key level of 30.00 USD. This morning we are seeing a pullback from the overnight high of 30.36 USD. We believe that the price will drop to the support of the moving average EMA55, which is located just below the 0% fib.
BCH/USD
Taking advantage of the support level of 80.00 USD, the price of Bitcoin Cash ABC tried to somehow recover, but could not even test the level of average prices. We believe that the correction ended at yesterday’s high and today the pair will return to support at 80.00 USD.
Bitcoin Cash SV, yesterday, recovered from the support level of 72.00 USD and, unlike Bitcoin Cash ABC, managed to record a high just above the moving average EMA55.. However, this did not allow him to improve his position in the CoinMarketCap and Bitcoin Cash SV rankings, still in penultimate place in the top ten. We believe that today the price will roll back to the level of 72.00 USD.
You May Also Like
Analysis of TRX and IOT as of 11/19/2018
Despite attempts at growth, sellers dominate the altcoin market. TRX/USD and IOT/USD bears have selling opportunities.
Analysis of Bitcoin Cash, EOS, Stellar Lumen and Litecoin as of December 21, 2018
The weekly highs were updated on decreasing volumes, so in the near future there is a high probability of market consolidation near key support levels.
