There is still hope for the altcoin market as some coins have shown significant improvement. The next few hours or trading will determine if these gains can be sustained or not. EOS price is expected to go as high as $15 and may hit $23 by the end of the weekend. So, how are some of the top altcoins doing today?
Litecoin (LTC) Price Analysis
Litecoin had proven to be a strong contender in the cryptoverse. Currently, the bears are in control of the market and are preventing the bulls from moving further upward. There isn’t enough candlestick momentum to push the price above the candlestick of June 4. If sellers push more, the price may go below $115.
EOS Price Analysis
EOS is gathering steam and even if there is negative impact on the price action, positive news about the Mainnet launch is the only thing required to push EOS front. The price charts indicate that EOS is up by 4% within 24 hours even if it is still trading in the high lows of June 2nd. The price is still consolidating indicating that the trade plan is valid. Except EOS breaks lower than the support at $12 and the resistance at $15, there will be hope for the altcoin.
Stellar Lumens (XLM) Price Analysis
Within the last 24 hours, Stellar Lumens has recorded significant gains and has earned a place among the top 10 gainers this week. It is still in the seventh position in terms of market capitalization. By the end of today’s trading session, buyers may overcome the 30 cent resistance if they take full charge of the market. If the coin slopes lower below 27 cents, the five day trade position will be invalid.
The next few trading sessions will determine the fate of these coins in the markets. It’s important to note that the cryptocurrency industry is highly speculative. Anything can happen at anytime so long-term prediction is difficult.