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LTC, EOS Price Prediction - Further Growth in Doubt. Profound Decline Coming?

Price Predictions
Thu, 03/26/2020 - 10:07
Denys Serhiichuk
Can Litecoin (LTC), and EOS be dark horses and grow faster than other altcoins?
Cover image via www.tradingview.com

Despite attempts from bulls to show market growth at least in the short-term, sellers are not giving up their positions. This is reflected in the rates of the top 10 coins that are again all in the red zone.

Top 10 coins by Coinstats

Relevant data for Litecoin (LTC) and EOS is as follows.

Name

Ticker

Market Cap

Price 

Volume (24h)

Change (24h)

Litecoin

LTC

$2 518 256 262

$39.12

$3 017 345 017

-2.59%

EOS

EOS

$2 117 935 149

$2.30

$2 517 218 492

-1.20%

LTC/USD 

The rate of 'digital silver' is falling faster than other altcoins. The decline has made up 3.23% over the past 24 hours. However, in terms of weekly analysis, the price of Litecoin (LTC) has increased by almost 12%.

LTC/USD chart by TradingView

Litecoin (LTC) has formed an ascending channel since March 16 on the 4H chart. The current situation is considered a correction after a fall to levels below $25 but not the start of a bull run.

Related
Litecoin (LTC) Price Expected to Hit $56 as Analysts Turn Bullish

As a more likely price forecast, the coin is about to face a short decline to $38 followed by a further rise to the nearest resistance at $40.

Litecoin is trading at $39.32 at press time.

EOS/USD 

EOS is feeling slightly better than Litecoin (LTC). Its rate has gone down by 1.97% since yesterday, while the coin has gained 14% over the past week.

EOS/USD chart by TradingView

From a technical point of view, the EOS chart resembles the one for Litecoin (LTC). The rate is located above the base and the support lines of the Bollinger Band indicator, which is a bullish short-term signal. It is too early to think about an uptrend, however, the increasing trading volume might push the rate to $2.40, where the resistance level is located, within the next few days.

EOS is trading at $2.31 at press time. 

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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