EOS price spiked during the Asian trading hours on Thursday 17. EOS/USD exchanged at highs of $13.8 before starting to correct lower. The cryptocurrency is currently supported above $13.00, although there is a bearish momentum threating to push the price below the support.
EOS has been added to Barter DEX cryptocurrency exchange platform. The platform was developed and launched by the digital asset referred to as Komodo. The announcement did not, however, say if how the exchange was going to handle the switch of EOS token from Ethereum to its mainnet being launched on June 2, 2018.
In the meantime, EOS/USD is also supported by the 50 SMA at $13.00 while the 100 SMA will offer more support in the event of declines beyond the immediate support. Significantly, the major support has is at $12.00. On the upside, EOS price retracement has been capped below $14.00, although the next target out of the falling wedge pattern is at $18.00 and $20.00 respectively. In the meantime, a break above the key resistance at $14.00 is good enough.
Litecoin (LTC) Price Analysis
Litecoin bulls are braving the selling pressure in the market to attack the short-term resistance level at $139. There is a falling wedge pattern in the making on the chart with the descending trend line limiting the movements to the upside. The selling pressure at $140 area has been prevailing for a couple of days now.
LTC/USD target is $150, but first, the resistance at $144 and $148 must be dealt with before attacking this level. The 50 Simple Moving Average is offering resistance above $140, on the other hand, the 100 Simple Moving Average is supporting the price at $138.
Litecoin price is trading at $139.5, besides a bullish trend is in progress. Moreover, the Relative Strength Index (RSI) on the 30’ timeframe chart is at the 60 mark. The gap between the moving averages is narrowing signalling that the buyers have the upper hand. Litecoin trading volume has maintained high figures despite the slide, for instance, at the time of writing the trading volume is $311,625,000 USD while the circulating supply is 56,573, 588. Litecoin’s market capitalization is at $7.9 billion and is currently ranked as the 6th largest cryptocurrency.
QTUM price analysis
While the above cryptocurrencies are battling to correct higher and possibly shake off the selling bear influence in the market, QTUM price is recording subtle losses. The crypto is trading at $16.14, however, it seems to be comfortably supported at $16.00. QTUM/USD battled to breach $17.00 during the trading session in the morning on Thursday, but selling pressure engulfed price, and downside movement that ensued has trimmed the gains made in yesterday’s session.
At the moment, QTUM price is trading below the moving averages on the 30’ timeframe chart. The gap between the 50 SMA and the 100 SMA is widening to signal that the bears will continue to dominate the price in the near-term as we head to the close of the session in a few hours. If the immediate support at $16.00 fails to hold the price, another vital support area is highlighted at $15.00.
This information should not be interpreted as an endorsement of cryptocurrencies or a recommendation to invest. Historic performance is no guarantee of future returns. As an investment class, cryptocurrencies are speculative investments and investing in cryptocurrencies involves significant risks – they are highly volatile, vulnerable to hacking and capital loss and sensitive to secondary activity. Before investing you should obtain advice and decide whether the potential return outweighs the risks.