Price Analysis of LTC/USD and EOS/USD
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Price Analysis of LTC/USD and EOS/USD

January 14, 2020      Cryptoknowmics

The price of Litecoin was able to scale and close over the overhead hurdle at $50, which is a positive signal. The direction of the 20-day EMA and the RSI shows that buyers are in control.
A successful sustenance of the price over $50 could bring about a rally to $60 and over it to possibly $66. The LTC against the USD pair could secure some momentum over $52.

On the other hand, the failure of the buyers to maintain a level over $50 could lead to $47.8264. A break of this support could lead to an extended decline to the 20-day EMA.

As for the price-performance of EOS, it was able to break out of the downtrend line. The ability of the buyers to maintain a level over the downtrend line for three days will point to a likely change in trend.

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The direction of both its 20-day EMA and the RSI signals the control of the buyers. Traders need to focus on $3.69 as the immediate target.

On the other hand, a successful price movement back to under the downtrend line could make the EOS against the USD pair to decline to $2.8695. The holding of this support could strengthen the buyers to try to move the price to $3.69. The bullish perspective for the pair will not hold if the price falls under the 20-day EMA.

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