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BCH, EOS, and LTC Price Prediction - Has the Perception on Altcoins Passed the Bottom?

Price Predictions
Wed, 11/06/2019 - 15:12
Denys Serhiichuk
What are the reasons for a rise in prices of the altcoins?
Cover image via www.tradingview.com

The overall market capitalization and price of Bitcoin (BTC) have been steadily increasing. Apart from Stellar (XLM), there has been a price upswing for the other coins. If XLM had the biggest gains from yesterday, then it is today's biggest loser as its rate has decreased by 0.64%. 

Top 10 coins by Coinstats

Below is the key data for Bitcoin Cash, EOS, and Litecoin:

Name

Ticker

Market Cap

Price 

Volume (24H)

Change (24H)

Bitcoin Cash

BCH

$5,410,971,893

$298.98

$2,466,000,016

3.07%

EOS

EOS

$3,376,050,273

$3.60

$2,843,480,291

1.79%

Litecoin

LTC

$4,030,561,427

$63.35

$4,281,378,546

1.19%

BCH/USD 

Yesterday's trading volumes were low, with sellers increasing their sales. This pair kept the price of Bitcoin Cash (BCH) steady at $289.51, preventing a decline.

BCH/USD chart by TradingView

Today, BCH has continued to grow, setting this month's ceiling price of $309.15. Until the end of the day, there is the possibility of a resistance retest in the are $320 area. Looking at the daily chart, the market is quite overheated, which could signal a potential price drop to $280 in the near future.

At the time of publication, BCH was trading at $300.77.

EOS/USD 

The price dymanics of EOS (EOS) are more on the positive side in comparison to other altcoins. Its rate has shot up by almost 10% since last week. Moreover, the coin could fix the acquired position after the October 25th pump.

EOS/USD chart by TradingView

Even though EOS has returned to its September position, the general trend has not yet switched to a bullish one. The trading volume level is decreasing against a rise in price. This usually means that a further drop in price is coming. In this particular case, the most likely scenario is a retest of $3.30 level in the near future.

At the time of publication, EOS was trading at $3.58.

LTC/USD 

Litecoin (LTC) confirmed our recent bullish scenario, reaching a price of $60 and surpassing it. Over the last seven days, the rate of the "digital silver" has gone up by 8.37%.

LTC/USD chart by TradingView

Analyzing the chart, LTC is trading in a similar manner to EOS - the price keeps rising against a declining trading volume. The MACD indicator is moving upwards, suggesting an increase to $70.

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Litecoin Price Surges Seven Percent While Number of Daily Transactions Reaches Highest Level in 2019

However, this will only happen if the trading volume index increases. Otherwise, LTC will drop to $55.

At the time of publication, LTC was trading at $62.92.

About the author

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and make predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing & ICO Advisory, ATB Coin, and others.

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