Our review today opens with the XLM/USD pair. For the first time in its entire history, Stellar Lumen managed to surpass Bitcoin Cash in terms of capitalization and take an honorable fourth place according to CoinMarketCap.
XLM/USD
The Lumen price made a second assault on the resistance at 0.170 USD yesterday and set a high at 0.176 USD. The resistance of the moving average EMA55 prevents us from testing the level of 0.181 USD. This morning there was another attempt to overcome the level of average prices, but so far it has not been successful.
However, Stellar Lumen’s efforts did not go unrewarded and the asset ranks fourth in the capitalization ranking, surpassing Bitcoin Cash by about $66 million. We believe in the possibility of a bullish breakout to the 0.181 USD area. But if the moving average resistance turns out to be strong enough and does not allow the XLM price to reach a new daily high in the area of 0.181 USD, then the price will consolidate in the range of $0.155 - $0.170 over the weekend. A break through the support of 0.140 USD will cancel the correction and will be a signal for the resumption of the downtrend.
BCH/USD
Bitcoin Cash yesterday finally lost all initiative for recovery, refused to re-test the two hundred dollar level and lazily consolidated in the area of 180.00 USD. Because of this, it lost its leadership in the second three most capitalized currencies and moved to fifth place in the CoinMarketCap list.
We believe that with trading volumes below the average level, the price of BCH, until the end of this week, will be in a sideways range, under the resistance of 200.00 USD.
EOS/USD
The EOS price refused to storm the resistance of 3.65 USD yesterday. The pair rolled back to the support of the three-dollar line and is trying to stay at this level in consolidation. As long as the pair remains above the latest low of 2.867 USD, it has a chance of continuing the correction and consolidating the price above the level of 3.65 USD.
But updating the minimum may cancel the correction that began on November 27, which “withered” at around 3.40 USD.
LTC/USD
Yesterday’s attempts by the Litecoin price to break through the upper limit of the pink downtrend corridor were unsuccessful. Using the support of the 23.6% fibonacci level (33.44 USD), the pair tried several times to break the red border of the downtrend, but declining volumes gradually reduced the LTC price dynamics to a narrow range in the area of average prices..
If the moving average EMA55 continues to keep Litecoin in a flat, then over the weekend the pair will “crawl” beyond the upper border of the pink corridor, maintaining chances of continuing the correction.
However, given the overall weak dynamics of altcoins towards recovery, it is quite likely that the LTC price will decline to support 30.00 USD.
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Analysis of cryptocurrency pairs BTC/USD, XRP/USD and ETH/USD as of 12/03/2018
Over the weekend, the market traditionally did not show excessive activity and was in a predictable sideways range. In the near future, the dynamics of the sideways trend will continue
