Crypto Currency Brief: Major crypto pairs plunge to multi-month lows on generic pessimism, Jamaica Stock Exchange announces crypto asset trading in 2018 – Tuesday, August 14th, 2018
Tue, 14 Aug 2018, 11:52 am UTC
BTC/USD: Bitcoin achieved new lows during late European session Tuesday, falling to 1-1/2 month low and breaching the $6,000 mark amid renewed sell-off for reasons quite unknown. Last week, the United States SEC had announced the postponement of a Bitcoin Exchange Traded Fund (ETF), proposed by VanEck and SolidX. This week, nothing much at the fundamental level has exchanged paths with the cryptocurrency. At the time of writing, BTC/USD slumped 4.01 percent to $6,001.50. Meanwhile, the near-term support is seen at $5,780.00 and resistance at $6,500.00.
ETH/USD: Following Bitcoin’s trend, Ethereum prices slumped to a 10-month low on Tuesday, following the humongous selling pressure created by ICOs, as projects are always in search for liquidating digital assets in exchange for fiat currency, according to the latest news from NewsBTC. At the time of writing, ETH/USD plunged over 8 percent to $260.84, hitting day’s low of 249.93. Meanwhile, the near-term support is seen at $240.00 and resistance at $320.00.
XRP/USD: Ripple also followed its wider peers, trading at levels last seen in December 2017, as a sense of pessimism continue to dominate in the cryptocurrency market. In other news, the Jamaica Stock Exchange (JSE) has announced today that it will soon be offering cryptocurrencies as tradeable assets for its clients, Coindesk reported. At the time of writing, XRP/USD lost 5.55 percent to $0.25833. Meanwhile, the near-term support is seen at $0.2450 and resistance at $0.2700.
BCH/USD: Bitcoin Cash, remained no different, stooping to November 2017 levels, in a generic pessimism that shook digital currency markets since mid of last week. Any consolidation above the $590 level may provide room for a short-term bullish reversal. At the time of writing, BCH/USD traded 9.08 percent down at $483.00. Meanwhile, the near-term support is seen at $450.00 and resistance at $520.00.
EOS/USD: The EOS, also displayed red patterns, plunging heavily after the crypto market lacked momentum, losing out $23 billion, dropping from $217 billion to $194 billion, CCN reported. At the time of writing, EOS/USD traded 6.05 percent lower at $4.3002. Meanwhile, the near-term support is seen at $4.0000 and resistance at $4.6700.
LTC/USD: The Litecoin traded at 14-month low on Tuesday and is trying hard to hold slightly above $50 mark. At the time of writing, LTC/USD traded 9.59 percent lower at $51.11. Meanwhile, the near-term support is seen at $49.00 and resistance at $54.69.
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