Cryptocurrency Brief: Crypto prices range-bound; Nasdaq offers to buy Cinnober; PBoC warns investors on ICOs – Tuesday, September 18th, 2018
Tue, 18 Sep 2018, 11:38 am UTC
BTC/USD: Bitcoin prices once again remained in a tight trading range during late European session Tuesday, only to be seen moving tad higher, albeit failing to hold above the $6,500 mark. With no major news governing the cryptocurrency’s price movements, market participants will be eyeing the September 30 deadline for the United States’ Securities and Exchange Commission’s (SEC) pending decision on the Bitcoin-related exchange traded fund (ETF). At the time of writing, BTC/USD hovered around $6,250.00. Meanwhile, the near-term support is seen at $6,100.00 and resistance at $6,500.00.
Market Update: According to recent reports, Nasdaq, the world’s second-largest stock exchange has offered to acquire Cinnober, a Sweden-based Fintech startup that provides trading solutions in partnership with crypto custody provider BitGo, in a $190 million deal. This step by Nasdaq may prop up some trading insights into the digital currency market.
Meanwhile, the People’s Bank of China (PBoC) has issued a notice in the public interests, warning investors of the risks involved with cryptocurrencies and initial coin offerings (ICOs).
ETH/USD: Similar to Bitcoin prices, Ethereum too traded steady during Tuesday’s afternoon session, ignoring Bitfinex’s announcement of the launch of an Ethereum-based hybrid trading platform named Ethfinex Trustless, which is aimed at providing crypto traders security, privacy as well as funds control. At the time of writing, ETH/USD rose 0.28 percent to $196.58; the day’s high was seen at $200.84 and low at $193.88. Meanwhile, the near-term support is seen at $190.00 and resistance at $225.00.
XRP/USD: Ripple, however, remained slightly higher, ditching the flat trend in its bigger peers amid hopes of the launch of xRapid, blockchain startup Ripple's commercial application, by early next month. xRapid uses cryptocurrency as a bridge between currencies to allow for faster and cheaper cross-border transactions, FxStreet reported. At the time of writing, XRP/USD traded slightly over 1 percent to $0.27335. Meanwhile, the near-term support is seen at $0.2500 and resistance at $0.3000.
BCH/USD: Bitcoin Cash, is trading close to the day’s low of 412.1 in a tight-knit session that witnessed range-bound trade over the past two days. At the time of writing, BCH/USD lost 1.20 percent to $412.20. Meanwhile, the near-term support is seen at $405.00 and resistance at $460.00.
EOS/USD: The EOS, too fell, in line with Bitcoin cash, giving up gains seen over the end of last week in a topsy-turvy scenario over the past few days. At the time of writing, EOS/USD also declined over 1 percent to $4.7889. Meanwhile, the near-term support is seen at $4.65 and resistance at $5.47.
LTC/USD: Litecoin, also, remained no different, stuck in a close-knit trading range Tuesday, tracking a similar movement in few of its counterparts, albeit losing out proportionately higher than other coins. At the time of writing, LTC/USD slumped 1.70 percent to $51.210. Meanwhile, the near-term support is seen at $47.00 and resistance at $60.00.
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