Jeremy Martinez, senior technical analyst at dagx.live, said that Litecoin (LTC) dropped below the 20-day EMA and triggered our recommended stop loss mentioned in the previous analysis. It is currently attempting to bounce off the 50-day SMA.
If successful, the LTC/USD pair will again try to move up to the resistance line of the ascending channel. On the other hand, if the bears sink the pair below the 50-day SMA, it can slide to the support line of the channel. A breakdown of this support will signal a change in trend, thinks Martinez from dagx.live. The 20-day EMA is turning down and the RSI has dipped below the midpoint. This suggests that the bears have the upper hand in the short term. Currently, the dagx.live senior technical analyst is neutral on the cryptocurrency.
EOS dropped below the moving averages and broke below the support line of the ascending channel the next day, according to Martinez price analysis. In doing so, it triggered his suggested stop loss at $6.40. Currently, the bulls are trying to push the price back into the channel. If successful, the digital currency might move up to the moving averages.
But if the bulls fail, the EOS/USD pair might turn down and plunge to the next support at $4.4930. The 20-day EMA is turning down and is on the verge of completing a bearish crossover, which is a negative sign. The RSI has also dipped into the negative zone. All these show that the bears have the upper hand. Martinez from dagx.live do not find any reliable buy setup hence, he is not recommending a trade in it.