Crypto Price Analysis of March 06: LTC, BCH, BSV, EOS, BNB

Incidentally, all the coins below have ended the downward corrections as the markets resume upward movement. The upward movement has been delayed in most cases because of buyers’ failure to emerge at the appropriate time in the oversold regions.

LTC/USD Major Trend: Bullish

Litecoin is consolidating and currently trading at the price of $61. Its downward move has been exhausted as LTC slumped to the oversold region at the low of $57. The coin has been fluctuating between the levels of $56 and $64 in preparation for an upward movement. Buyers have not emerged at the oversold region to push LTC upward. Unfortunately, consolidation may persist if buyers fail to emerge in the oversold region.

LTC/USD – Daily Chart

At the moment, the stochastic bands are making a U-turn indicating a possible bullish momentum. LTC is still below 20% range of the daily stochastic. Presently, the coin is facing resistance at $64. On the upside, if the bulls succeed in pushing  price above $64, the coin will rally above $80.

BCH/USD Major Trend: Bearish

BCH/USD – Daily Chart

Bitcoin Cash is approaching the breakout level of $360 but faces minor resistance. Prior to this time, BCH has fallen to a low of $307. The selling pressure has ended as the coin fell into the oversold region.

Buyers are emerging at the oversold region as the coin resumes upward move. On the upside, if the bulls push the price above $360, it will reach its target destination of $480. Meanwhile, BCH is above 20% range of the daily stochastic. This indicates that the coin is in bullish momentum.

BSV/USD Major Trend: Bullish

BSV/USD – Daily Chart

Bitcoin SV is in a bullish trend. Presently, it has broken above the resistance at $240 and it is pushing upward. Prior to this time, it was battling with downward correction. In its downward move, it fell to a low of $200 which is the oversold region.

Thereafter, buyers emerge as the coin takes a bullish initiative. On the upside, if the current move is sustained above $240, BSV will reach a high of $360 or $440. Nonetheless, BSV is currently above 20% range of the daily stochastic. This indicates that the coin is in bullish momentum.

EOS/USD Major Trend: Bullish

EOS/USD – Daily Chart

EOS slumped from the high of $5.50 to the oversold region of $3.50. As the coin falls into the oversold region, selling pressure was exhausted. EOS was in the meantime fluctuating between $3.50 and $4.0. After the oversold condition, buyers emerged as the market resumed its upward movement.

EOS will reach its peak price once the bulls break the resistance at $4.0. The coin is presently above 20% range of the daily stochastic. The market is likely to move up.

BNB/USD Major Trend: Bullish

BNB/USD – Daily Chart

Presently, Binance Coin has traded and reached a high of $21 in a bullish trend. The coin is approaching the previous high of $28. In February, when it reached a high of $28, it faced selling pressure as it was overbought.

Today, the bulls have broken above the 12-day and the 26-day EMAs indicating that the upward move will continue. Also, the Relative Strength Index period 14 has reached level 53 which is above the centerline 50. This indicates that BNB is in the uptrend zone.

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