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BAT, EOS, Litecoin Price Analysis: 30 August

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BAT lacked a significant trend in the short-term as it retraced to important levels after a recent surge. EOS could be flipping from bearish to bullish momentum. Litecoin continued to show bearishness.

Basic Attention Token [BAT]

BAT, EOS, Litecoin Price Analysis: 30 August

Source: BAT/USD on TradingView

BAT was trading at the 38.2% retracement level, after its spike to $0.443.  It briefly dipped to find support at the 50% retracement level, $0.332.

At the time of writing, RSI stood at 52. No trend was suggested by the indicator in the short term. We can expect this recent move of BAT to be a pullback and for the uptrend to continue.

EOS

BAT, EOS, Litecoin Price Analysis: 30 August

Source: EOS/USDT on TradingView

EOS broke past the downtrend (yellow) it faced the past couple weeks and was trading above support at $3.05. It had a 24h trading volume of $1.6 billion on 29 August, significantly less than $2.5 billion on 25 August, when the coin dropped from $3.32 to $3.12.

The lack of significant volume is, by itself, significant. It indicated that traders were waiting for the market to make a definitive move, before initiating any trades.

Directional Movement Index (DMI) had been strongly bearish, but it could be changing to a bullish trend in the coming sessions, as ADX (yellow) dropped towards 20, while -DMI (pink) and +DMI (blue) could cross each other if the market grows more bullish.

Litecoin [LTC]

BAT, EOS, Litecoin Price Analysis: 30 August

Source: LTC/USD on TradingView

Litecoin held spot 7 on CoinMarketCap, with a marketcap of $3.8 billion. Referred to as the silver to Bitcoin’s digital gold, it followed Bitcoin in the market, and fell from $66 to $55 alongside Bitcoin, as BTC fell from $12,500 to $11,200.

$57.6 had previously been a Point of Control, and was trading at $57.93 at press time. There was bearish pressure on the coin.

In the short-term, 20 SMA (white) stayed below 50 SMA (yellow), showing bearishness. Parabolic SAR switched from a sell to a buy signal, but that was only due to one session where the price rose from $57 to $59.

Important levels to watch are the moving averages which will act as resistance and support stood at $56.

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Having studied Chemical Engineering, Akashnath's focus is on the UK and Indian markets and especially crypto assets. He is devoted to technical analysis and is always on the lookout for investment opportunities.
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