Price Analysis: EOS, Bitcoin Cash (BCH), Ethereum Classic (ETC)

Fibo Quantum

Overview:

  • EOS is embedded by a strong support from $3 and an immediate resistance at $3.5 and $3.7.
  • EOS trading under strong selling pressure has notably traced it movement below the trading price of $4, since past 15 days now.
  • Bitcoin Cash breaks below $300 after a week-long of bullish sentiments.
  • BCH slipped with no grounds and even went below $290.
  • Ethereum Classic portrays a different trend and finds support from the long-term moving average i.e. 50-day SMA.

EOS/USD:

The below EOS price chart is a data feed from Coinbase as on 29th August at 04:43 UTC.

EOS Price Chart by TradingView

Tracing hourly movement of the coin in the past 5 days, we see that EOS had an easy way downward without much breakouts. EOS was trading around $3.690 on 24th August, with a minor slip in between the coin had a sloping and reasonable trade and was trading at $3.517, with 4.68% plunge yesterday.

Important to note that the coin gradually fell by 12.14% from $3.517 to $3.090 in no time yesterday. Currently it is trading with a 4.01% surge at $3.214 as compared to the lowest in said time. EOS price has a rooted support from $3 price area and the coin has maintained same. The current trading price faces immediate resistance from $3.5 and $3.7 price mark.

The short term SMA movement remains below the short term EMA. Also, current trading price of EOS is notably lower by 8.17%, 8.92% and 20.38% from its 10-day EMA, 10-day SMA and 50-day SMA respectively.

The MACD of EOS indicates bearish crossover with signal line crossing MACD line and RSI exhibits the strong selling pressure below 30.

BCH/USD:

The below Bitcoin Cash price chart is a data feed taken from Coinbase as on 29th August at 04:48 UTC.

Bitcoin Cash Price
BCH Price Chart by TradingView

As rightly observed from above EOS trading price and trend, we see an almost similar hourly movement and trend of Bitcoin Cash in the past 5 days. BCH was trading around $316.82 on 24th August and with a moderate volatility in the said time frame, the coin plunged by 3.02% and was trading at $307.24 yesterday. On the same day Bitcoin Cash further took a steep plunge by 8.10% and started trading at $282.34 by breaking all the major support prices. Currently BCH is trading at $286.15, slightly above the lowest of the said time frame.

The current trading price has no support from the short-term moving averages i.e. 10-day SMA and 10-day EMA.

The MACD of BCH price is trading in the negative array below zero with a bearish crossover and the RSI remains below 30 in the strong oversold region.

ETC/USD:

The below Ethereum Classic Chart is a data feed from Coinbase as on 29th August at 05:05 UTC.

Etehreum Classic Price
ETC Price Chart by TradingView

Ethereum Classic draws a slightly different trend as compared to EOS and BCH. ETC price was trading around $7.16 at 24th August and today after having recording a mid of dipping and flattening trend is trading at $6.35. Within the said time frame ETC has plunged by 13.88% and recorded the lowest at $6.166. After being traded above $7 for continuously 2 days in a row, the coin has again slid and has given a new weekly low now testing support near $6. The current trading price is even lower by 4.11%, 6.29% from 10-day EMA and 10-day SMA respectively, but 4.02% more by its long-term moving average i.e. 50-day SMA.

The MACD movement is no different as observed in the above coin and traces a bearish outlook in the negative array with RSI remaining below 30 in the oversold region and ETC price trading with a solid selling pressure.