Crypto Currency Brief: Bitcoin downtrend continues, LTC/USD trades near 2018 low, XRP bill payments set to roll out – Friday, August 10th, 2018
Fri, 10 Aug 2018, 11:49 am UTC
BTC/USD: Seems like the downtrend is not over yet – Bitcoin prices, once again started to plummet during European session Friday, still hovering around day’s lows at the time of writing. Although no specific reason can be chalked out for the fall, but a general sense of pessimism prevailed after the U.S. Securities and Exchange Commission (SEC) decided to delay the approval of a Bitcoin Exchange Traded Fund (ETF), as was proposed by VanEck and SolidX. At the time of writing, BTC/USD plunged nearly 3 percent to $6,331.00. Meanwhile, the near-term support is seen at $6,000.00 and resistance at $6,700.00.
ETH/USD: Following Bitcoin’s trend, Ethereum prices also disappointed market participants, but hovering near the day’s lows. Investors shall take time to digest the huge round of pessimism created by the SEC’s ETF postponement decision on Wednesday. At the time of writing, ETH/USD traded 1.45 percent down at $358.01, hitting day’s low of 356.01. Meanwhile, the near-term support is seen at $345.00 and resistance at $373.00.
XRP/USD: Reaching to this year’s low on Wednesday, the Ripple also remained on the downside despite trading in green yesterday after news hit markets that Bittrex, a popular crypto trading platform has added XRP/USD, apart from other tokens, to its existing list of tradable instruments. Also, a latest development in the Philippines has rolled out promises to allow for bill payments to be done by around 5 million new customers in XRP, CryptoDaily reported. At the time of writing, XRP/USD slumped 3 percent to $0.33327. Meanwhile, the near-term support is seen at $0.3000 and resistance at $0.3750.
BCH/USD: The Bitcoin Cash, too traded near recent lows after investors remain confused over risk sentiments after the SEC turned down the decision for ETF on Wednesday. Bitcoin ABC, a software for Bitcoin Cash nodes is ready to roll out a package of changes for the planned BCH hard fork scheduled in November, aimed at controlling the network spams and reducing transaction costs to some extent. At the time of writing, BCH/USD lost 3.01 percent to $590.40. Meanwhile, the near-term support is seen at $567.00 and resistance at $620.00.
EOS/USD: The EOS, in line with its major pairs, slumped by a similar margin on the last trading day of the week, in a mood-swing, created by SEC’s announcement that its verdict on the VanEck-SolidX ETF will be delayed by 45 days. At the time of writing, EOS/USD traded 4 percent lower at $5.5290. Meanwhile, the near-term support is seen at $5.0000 and resistance at $6.0000.
LTC/USD: The Litecoin traded near this year’s low on Friday; the LTC/USD pair is dropping the $60 mark slowly. Litecoin Creator, Charlie Lee, on Thursday expressed his thoughts via Twitter, saying, "A bear market is the best time for people to work on adoption". This came along with the Litecoin’s SMS Payments hitting live. At the time of writing, LTC/USD traded 2.46 percent lower at $61.43. Meanwhile, the near-term support is seen at $60.00 and resistance at $67.00.
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