Bitcoin (BTC) is continuously losing its market share. Its market dominance has fallen below 66%. With BTC trying to concentrate its efforts on keeping the price above $8,800, the prices for the other leading altcoins are continuing to grow. XRP (XRP) is the only exception to this rule as its price has dropped by 0.54% over the last 24 hours.
Here’s a summary of the important data for Ethereum (ETH), Bitcoin Cash (BCH), and EOS (EOS):
|Name||Ticker||Market Cap||Price||Volume (24H)||Change (24H)|
ETH has shown positive price dynamics since last week. Its price has increased by 2.53%, giving it the biggest increase of the top 5 coins.
Looking at the 4H chart, ETH is trying to push above the $188 resistance level. It currently has a good chance to achieve this goal since the colored EMA/SMA is bullish, as well as the Moving Average Convergence Divergence (MACD) indicator.
The only thing that might be of concern for traders is the relatively low trading volume. If it doesn’t increase soon, the price will roll back to the $180 support level.
Currently, ETH is trading at $187.81.
Our BCH price prediction from earlier has proven to be fairly accurate. The price rolled back from $300 to the $285 area, which is where the price is located currently.
Looking at the 1D chart, BCH is forming a bearish reversal, moving back to towards its previous levels before the October 25th pump. This is confirmed by the low trading volume index and the absorbing bearish candles closed from November 7-8. In addition, the Ichimoku cloud pattern is located in the red zone, which means that the sellers are possibly going to be the dominate voice in the short-term. In conclusion, the nearest support for BCH might be at the $260 level.
Currently, BCH is trading at $286.68.
EOS has increased by 7.59% since last week. Yet it has not managed to get out of its bearish trend.
Analyzing the chart, EOS is located in the bearish pennant, with a possible downward breakout. One can predict a possible bearish move based on the decline in trading volume, signifying an absence of buyer enthusiasm. What is more, the relative strength index (RSI) indicator has already reached its local high, meaning that one may expect a drop from its current levels to the nearest support level of $3.25.
Currently, EOS is trading at $3.54.