Analysis of EOS, Bitcoin Cash and Litecoin as of 04/25/2018

In today’s review, let’s pay attention to the second three cryptocurrencies, which in terms of capitalization breathe in the back of Ripple. They are of great interest to investors due to news related to their software and financial platform

BCH/USD

At the beginning of last week, Bitcoin Cash left the sideways range and continued to grow, which started on April 6 from a minimum of 600.00 USD.

Information about updating the Bitcoin CheckOut application in the BitPay service stimulated price growth in an already overheated market. Yesterday, due to fairly large purchase volumes, the price set the April maximum at 1574.27 USD. 

Last week the RSI indicator entered the overbought zone, and the stochastic indicator on the border of the neutral zone showed a sell signal. And in the afternoon, large sales volumes began. The BCH rate broke through the support level of 78.6% fibo (1348.35 USD) and reached a local low of 1239.22 USD. 

Now the price is trying to consolidate at the 78.6% fibonacci level (1348.35 USD). The RSI indicator has already returned to the neutral zone, but there is no stochastic buy signal yet. It is quite possible that after a short consolidation, the price will continue to rise.

EOS/USD

The total capitalization of EOS this week reached 11.8 billion US dollars and this altcoin rightfully took fifth place in the top cryptocurrencies in terms of capitalization, moving Litecoin to sixth place. 

The rapid growth of EOS began on April 11 from the level of 6.00 USD. Yesterday the price reached a maximum of 16.15 USD. Information about the imminent transition of EOS to its own blockchain made many traders pay attention to this coin. As a result, in less than two weeks, the price of EOS increased by 10.00 USD.  

Today, the price of the EOS/USD pair tested the 78.6% fibonacci level (13.83 USD) while declining. But, having met support at this level, it is trying to consolidate near the 15.00 USD mark. Stochastic will soon give a sell signal, and if the price again tests the support level of 78.6% fib (13.83 USD), this will return the RSI indicator to the neutral zone. 

LTC/USD

Litecoin moved to sixth place in terms of capitalization and has $8.6 billion in its assets.

However, after yesterday’s high at 166.30 USD, the price rolled back sharply to the 78.6% fib level (154.00 USD). We believe that after intensive growth, the pair needs to consolidate a little at some suitable support level.. Judging by the RSI indicator, support for 78.6% fibonacci looks like a quite suitable level.