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

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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.

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.

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.

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.