Analysis of Stellar Lumen, Bitcoin Cash, EOS, and Litecoin as of 12/06/2018

This morning, bearish momentum pushed prices to new lows. The price recovery may not last long; the decline will soon continue.

XLM/USD

The price of Stellar Lumen, declining in the pink corridor of the downtrend, broke through the support level of 0.140 USD. The minimum value was fixed at 0.126 USD. The correction of the morning decline may be limited to the same level of 0.140 USD. Additional resistance will be the upper limit of the pink decline range. 

BCH/USD

Today’s BCH price decline ended with a new absolute minimum at 118.00 USD. While other altcoins are seeing a process of price recovery to the nearest resistance level, Bitcoin Cash ABC has entered a dying swan correction and is moving sideways around the 120.00 USD mark. We believe that the decline towards the target level of 100.00 USD will continue today. 

EOS/USD

The price of EOS has already updated its annual minimum today to 2.116 USD. The recovery is weak and uncertain, and looks more like a consolidation in a sideways range. Most likely, the correction will be limited to the area of ​​the previous low of 2.300 USD. And a continued decline is possible to the two-dollar level.  

LTC/USD

Of the four pairs under consideration, the only one that has not updated its annual minimum today is LTC/USD. The local daily minimum was fixed at 27.55 USD. 

However, the LTC price managed to break through the upper limit of the downtrend range and fully recovered to the key threshold of thirty dollars per litecoin. It seems that buyers will not be able to overcome the resistance of 30.00 USD today. There is a high probability that Litecoin will return to the pink corridor at the end of the day and head towards the target level at the 0% fib level (26.31 USD).