Cryptocurrency Brief: Crypto prices remain range-bound, Binance to launch crypto-fiat trading platform in Singapore, Gemini announces Litecoin support from October 13 – Monday, September 17th, 2018
Mon, 17 Sep 2018, 12:47 pm UTC
BTC/USD: Bitcoin prices traded in a tight range during late European session Monday, tracking a mixed bag of news over the past few days. While Google’s removal of three major cryptocurrency wallets from its Playstore and the U.S. SEC’s stand on exchange-traded fund (ETF) added shades of pessimism in the digital currency market, Nasdaq’s launch of price prediction tools and Citigroup offering Crypto Custody added to the greener side. Crypto prices now look forward to a clear hint for taking sides ahead of the September 30 deadline for the Bitcoin ETF decision. At the time of writing, BTC/USD slipped 0.34 percent to $6,476.40. Meanwhile, the near-term support is seen at $6,370.00 and resistance at $6,600.00.
Market Update: According to a report from FxStreet, Changpeng Zhao, CEO of Binance - the largest cryptocurrency exchange based in Malta, has announced that there are plans to launch a crypto-fiat trading platform in Singapore.
ETH/USD: Similar to Bitcoin prices, Ethereum remained on the downside, again mostly range-bound through the day as investors remain confused over the mixed information that circulated in the market over the past few days. Market participants also believe that the major digital currencies will trade sideways through the rest of this month, closely eyeing the September 30 decision on the ETF. At the time of writing, ETH/USD fell 0.28 percent to $219.54; the day’s high was seen at $226.77 and low at $212.40. Meanwhile, the near-term support is seen at $200.00 and resistance at $235.00.
XRP/USD: Ripple also slipped during Monday’s afternoon session, tracking similar movement in its immediate peers, but again not much movement could be seen through the day. At the time of writing, XRP/USD traded nearly flat $0.28130. Meanwhile, the near-term support is seen at $0.2500 and resistance at $0.3000.
BCH/USD: Bitcoin Cash, remained no different, following the footprints of its former peers, sliding in the aftermath of pessimism in the virtual currency market. Investors shall be waiting for further detailed cues in the market. At the time of writing, BCH/USD slipped 0.72 percent to $447.30. Meanwhile, the near-term support is seen at $425.00 and resistance at $475.00.
EOS/USD: The EOS, too went with the flow, 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 lost 0.49 percent to $5.3792. Meanwhile, the near-term support is seen at $5.18 and resistance at $5.50.
LTC/USD: Litecoin, however, lost over a percent during Thursday’s European session, tracking a similar movement in all its counterparts, albeit losing out proportionately higher than other coins. At the time of writing, LTC/USD slumped 1.16 percent to $56.135. Meanwhile, the near-term support is seen at $52.00 and resistance at $60.00.
However, news of Gemini, a New York-based cryptocurrency startup introducing Litecoin support boosted the coin’s price initially, but investors soon turned down and engaged in sell-offs; the service will be launched starting October 13, as per a report from FxStreet.
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