Crypto Currency Brief: Bitcoin on minor recovery path, Vietnam bans import of cryptocurrency mining equipment, LTC/USD at $60 mark – Monday, August 13th, 2018
Mon, 13 Aug 2018, 11:53 am UTC
BTC/USD: Bitcoin scaled higher during late European session Monday, although market experts believe that the bearish trend is not over yet. Last week, the United States SEC had announced the postponement of a Bitcoin Exchange Traded Fund (ETF), proposed by VanEck and SolidX, whose effects still seem to hover around investor sentiments. Amidst this, media reports have confirmed that Vietnam has stopped the imports of cryptocurrency mining equipment. At the time of writing, BTC/USD jumped 2.35 percent to $6,462.30. Meanwhile, the near-term support is seen at $6,000.00 and resistance at $6,656.00.
ETH/USD: Following Bitcoin’s trend, Ethereum prices also remained in green on the first trading day of the week, albeit proportionately lower than its wider peer, in terms of market cap. Investors have just started to adapt to the pessimism created by the SEC’s ETF postponement decision on last Wednesday. At the time of writing, ETH/USD traded 0.55 percent up at $319.90, hitting day’s low of 312.78. Meanwhile, the near-term support is seen at $300.00 and resistance at $337.00.
XRP/USD: Ripple recovered from last week’s sell-off, but hovered around weekend lows, signaling that the bearish trend is not yet over. 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 late last week. At the time of writing, XRP/USD climbed over 3 percent to $0.30467. Meanwhile, the near-term support is seen at $0.2850 and resistance at $0.3180.
BCH/USD: Although, Bitcoin Cash traded 2.25 percent higher at the time of writing, only a minor recovery, not providing much relief for a sustained rise in the digital currency over the near-term. Any consolidation above the $680 level may provide room for a short-term bullish reversal. At the time of writing, BCH/USD traded up at $583.90. Meanwhile, the near-term support is seen at $565.00 and resistance at $607.00.
EOS/USD: The EOS, also remained stuck in tight ranges, although up over 3 percent over the day, tracking similar trend in its other counterparts. At the time of writing, EOS/USD traded 3.10 percent higher at $5.1115. Meanwhile, the near-term support is seen at $4.8000 and resistance at $5.2200.
LTC/USD: The Litecoin traded near this year’s low on last Friday and is trying hard to hold slightly above $60 mark. Litecoin Creator, Charlie Lee, on last Thursday expressed his thoughts via Twitter, saying, "A bear market is the best time for people to work on adoption". Nothing new hit the Litecoin trading on Monday; however, bulls might mark a return soon. At the time of writing, LTC/USD traded 1.37 percent higher at $60.05. Meanwhile, the near-term support is seen at $57.00 and resistance at $63.20.
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