As the cryptocurrency has made a sequence of lower highs in 2018, the failure of the bulls to break out of the overhead resistance will attract selling.
The BCH/USD pair will indicate a change in trend if it breaks out of $600. The key levels to watch on the upside are $660.0753 and $880.As the price has been sustaining above the descending channel and the moving averages for the past four days, we suggest traders hold their long position with the stops at $400.EOS/USDEOS has been struggling to sustain above $5.65 for the past three days.
XLM/USDStellar has been holding above $0.24987525 for the past five days but is still struggling to break out of the downtrend line of the descending triangle.
As both moving averages are rising and the RSI is in the positive zone, the long positions can be held with the stops at $0.21.LTC/USDThe break out of the range is still elusive as Litecoin remains stuck between $49.466 and $69.279.
The longer the consolidation, the stronger will be the eventual break out or break down from it.
We anticipate a strong support at $58.7.If the bears break below the trendline, the virtual currency can drop to $54.5 and then finally to the bottom of the range at $49.466.The downtrend will resume on a break down of the range and a double bottom will complete on a break out of $69.279.
On the upside, a break out of the 50-day SMA will indicate strength.
The failure to break out of the downtrend line will attract profit booking and new shorts if the bears sustain below the 50-day SMA. The next level to watch on the downside is $96.390.
A break down of the 50-day SMA will complete a break of the symmetrical triangle that can result in a drop to $159.416 and below that to $130.024.If the support holds and the DASH/USD pair breaks out of the 20-day EMA, it might attempt to break out of the triangle.
We shall wait for a confirmed break out of the triangle before recommending any trades in it.
Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Stellar, Litecoin, Cardano, Monero, Dash: Price Analysis, October 1
Published on Oct 1, 2018
by Cointele | Published on Coinage
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