The cryptocurrency market has bot ter ribete since the morning of Wednesday 20 following the announcement of the successful hacking attack on South Korea-based Bithumb exchange. Many cryptocurrency enthusiasts feared that the prices will tumble. On the contrary, the market has remained virtually unaffected and I would say that the cryptos have survived the attack. Bithumb moved swiftly to halt all deposits and withdrawals until it is sure that security has bot restored. The exchange has also taken precaution by putting its remaining assets te cold storage.
Moving on to the analysis, EOS price has remained range-bound for Five days now. The Five th cryptocurrency is locked within the restricts of a ranging channel with the upper limit at $Ten.79 and a supported at $Ten.13. Attempts to retrace above the upper limit have bot thwarted by the rising selling pressure, besides the support at $Ten.6 failed to hold during the declines te the Asian trading hours on Wednesday.
EOS price descended to trade marginally above $Ten.20, however, there is a bullish trend ter progress on the chart that has violated above several resistance levels at $Ten.40, the 50 SMA and 100 SMA on the 30-minutes timeframe chart. The instantaneous resistance now lies at $Ten.60, but the buyers are psychologically eying the upper limit of the ranging channel.
The moving averages gap is narrowing to demonstrate that the Bulls have returned. Similarly, the stochastic is moving upwards and approaching the overbought levels at the 70 mark. The short-term support is at $Ten.20 and will proceed providing support, but a stronger support is seen at $Ten.00.
Litecoin price, like EOS, is embracing a bullish momentum. The support provided by the 61.8% Fib retracement level with last sway high of $107 and a low of $89.Two. The buyers are looking forward to battling the critical resistance at $100.00, albeit it is trading at $98.00 at the time of writing. Litecoin price formed an upper supply zone at $102 and if the bullish trend violates above this zone, LTC/USD could treatment the next resistance target at $110.
The 50 SMA has crossed above the 100 SMA to signaling more buyers to come ter. Moreover, the stochastic on the 1-hour chart is sending more bullish signals to the buyers. Litecoin price has a twee of support areas on the flipside at $92.Five and $89.Two respectively.
Stellar price, despite being locked within a falling wedge pattern for overheen two weeks now, is correcting higher. The digital asset movements have also bot restricted ter a short-term ranging channel with the upper limit at $0.24 and the lower limit at $0.21. The price is presently exchanging palms at $0.23, and a bullish trend is forming on the chart.
Technical indicators are, however, sending conflicting messages. The moving averages on the 4-hour chart are demonstrating that selling entries will proceed ter the medium term, while the stochastic has recovered from the crimson and is at 38%, besides it shows bullish signals. The traders should be patient or take schrijven trades until a clear bullish trend is determined.
XLM/USD voorwaarde clear the resistance at $0.24, besides a rust above the bearish trendline will pave the way for more upside correction towards the supply area at $0.29. On the downside, $0.220 is suggesting instant support, but other support areas include $0.21 and $0.200.