Analysis of Stellar Lumen, Bitcoin Cash, EOS, and Litecoin as of 12/05/2018

The decline in altcoins is happening so far without any significant correction. Let's try to determine what level will be able to turn altcoins into a correction

XLM/USD

Yesterday, the Lumen price was only able to pierce the upper limit of the pink downtrend range, but exited this declining corridor was never achieved. Today the downward trend will continue and the price will test yesterday’s downward target of 0.140 USD. Near this support, with low volumes, the XLM price will begin a short-term consolidation in a narrow range. 

BCH/USD

Bitcoin Cash ABC broke through the support level of 150.00 USD yesterday and is gradually declining to the target mark of a new absolute minimum, which may be at the psychological level of 120.00 USD. Whether this level of support will be able to somehow stop the constant reduction in the volume of capitalization of the Bitcoin Cash ABC fork is still a big question. Throughout December, we have not yet seen any signs of a strong recovery in the price of BCH. Only the overall positive dynamics of the entire crypto market can pull the pair out of its depressive slide to the bottom. However, no bullish growth is expected in the near future. 

EOS/USD

After a short consolidation at the level of 2.550 USD, the price of EOS continued to decline and this morning has already managed to break through the support of 2.300 USD. Continuation of negative dynamics will lead to an update of the annual minimum to a value in the area of ​​2.140 USD. On the eight-hour time frame, the stochastic formed a recovery signal, and if the pair enters a correction, it will not be high, to approximately the level of 2,500 USD.  

LTC/USD

Yesterday, Litecoin was unable to stay above the upper limit of the pink downtrend corridor for long. This morning, the LTC price broke through the support of 30.00 USD and stopped at 29.61 USD. Over the past 24 hours, Litecoin’s capitalization has decreased by approximately $100 million, which led to the loss of its lucky seventh place in the top ten most capitalized cryptocurrencies according to CoinMarketCap. 

We believe that after a short decline along the upper border of the pink range, the pair will break through it and test the zero Fibonacci level of 26.31 USD, updating the value of the yearly minimum.