Bearish pressure may resume with renewed vigor, which will lead to new annual lows. But for now the market is trying to consolidate at current prices.
XLM/USD
Yesterday evening, large sales volumes led to the Lumen price falling below the yearly minimum of 0.107 USD. Currently, trading activity has decreased and the price fall has stopped near the psychological level of 0.100 USD. However, we believe that the local minimum at 0.104 USD is not the last one for today. If bearish pressure resumes, then after recovering to the zone of the previous yearly minimum, the price on the decline may test the support of 0.100 USD.
EOS/USD
Yesterday's decline in EOS did not lead to a re-test a purple indicator beam, the breakthrough of which would signal the development of a downtrend. The price has stopped at a minimum of 1.83 USD and is trying to consolidate. Trading volumes are declining and if market activity is low, then EOS will be flat at this level for the coming weekend.
Despite yesterday’s decline, EOS remains sixth in the asset capitalization ranking with $1.7 billion. The stochastic on the four-hour time frame has generated a signal for the EOS price to recover, which means that in the near future the price will be in a correction phase. But on the eight-hour chart the stochastic shows a decline. We believe that after the correction is completed, such a decline may break through the purple ray of 1.782 USD and reach the area of the annual minimum of 1.550 USD.
BCH/USD
The price of Bitcoin Cash ABC continued its decline yesterday and updated the yearly minimum to 84.28 USD. However, Bitcoin Cash ABC, in terms of capitalization, remained in seventh place. The same cannot be said about Bitcoin Cash SV. Its decline to a minimum of 74.00 USD led to the fact that it dropped to ninth position in the CoinMarketCap rating and has a capitalization of $1.5 billion.
If bearish pressure on these two instruments continues with the same intensity, they will soon will leave the top ten crypto assets with a capitalization of more than one billion US dollars.
Today we expect the minimum of Bitcoin Cash ABC to update to the level of 80.00 USD, and the price of Bitcoin Cash SV will set a minimum in the area of 72.00 USD.
LTC/USD
Yesterday evening, on a decline, the LTC price pierced the purple line 22..78 USD, but has now been able to recover to the level of average prices. We believe that the moving average EMA55 will turn the LTC/USD pair down and the bears will be able to push the price to the area of the updated annual minimum, somewhere at the level of 22.00 USD. Over the weekend, the price will be in consolidation between the yearly low and the level of 24.40 USD.
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Analysis of cryptocurrency pairs BTC/USD, XRP/USD and ETH/USD as of 12/11/2018
The recovery phase after updating the next annual minimum has not yet been completed. Today we expect growth to the target level.
Analysis of TRX and XMR as of 12/06/2018
With selling pressure continuing, it is likely that many of the altcoins will fall to new lows in 2018.
