Cryptocurrency Market – Analysis of Some Leading Cryptos

News / 20.12.2019

The aggregate cryptocurrency market is maintaining major supports. ETH, TRX, XLM, EOS, XRP, LTC and BCH are in a struggle to keep moving to the upside.

As for BCH/USD, it began a moderate retracement to the upside following a move to $170. The price surged to over $180 and it is now into consolidation close to $185. A look at the upside shows two critical resistances close to $192 and $195, and a move over them may take the price towards $215. The failure of the price to remain over $180 could make it retest $170 low soon.

The price of LTC is into recovery over $38.50. However, it is in a struggle to establish a position over S40.00. If it closes over $40.00, the price may move over the hurdle at $42.00. Otherwise, it may move under $38.50 and resume its decline. The immediate major support is close to $37.00.

As for EOS, its price is maintaining the support at $2.400 and is now within a range. On the upside, several hurdles exist and begin with $2.500. The major hurdles are at $2.550 and $2.600, and a move over them could take the price to $3.000 soon.

The price of XLM is holding the support at $0.042. In recent times, it retraced to over $0.045 but is encountering several resistances from $0.046 and $0.0465. It needs to surge over the hurdle at $0.0500 for a powerful recovery.

 

Fetured image courtesy of Shutterstock. Source: CryptoPress.

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Dacosta Osei-Tutu, a first degree holder in Nursing, who couples his Nursing career with blockchain blogging, has a great passion for the blockchain technology and aims to play a vital role in applying this revolutionary technology to disrupt the healthcare system in Africa.