Technical analysis (BTC, ETH, XRP, BCH) Thursday, August 16, 2018

Technical analysis (BTC, ETH, XRP, BCH) Thursday, August 16, 2018

The general overview of Top-4 crypto coins for today — rise and fall and possible trends.

BTC/USDT

  • Bitcoin price recently broke above a short-term descending trend line as an early reversal signal.
  • Price reached the $6,650 level then made a pullback to the broken resistance.
  • Technical indicators also suggest a continuation of the reversal.

ETH/USDT

  • ETH price traded higher, but it failed to hold gains above $300 against the US Dollar.
  • There is a major bearish trend line capping gains with current resistance at $299 on the hourly chart of ETH/USD.
  • The pair may dip a few points and it could test the $277 and $271 support levels.

XRP/USDT

  • Ripple recently busted through a descending trend line to signal that a reversal from the downtrend is underway.
  • Price is pulling back to the broken resistance, though, so a retest appears to be taking place.
  • If the former resistance holds as support, price could resume the climb to the swing high or the next Fib extension levels.

BCH/USDT

  • Bitcoin cash price recovered further, but it failed to move above the $540 resistance area against the US Dollar.
  • There is an expanding triangle forming with current support at $492 on the hourly chart of the BCH/USD pair (data feed from Kraken).
  • The pair could bounce back once again, but it has to break the $530-540 resistance zone for more gains.

BTC

3,593 USD
1.17%

ETH

118.72 USD
1.36%

XRP

0.3191 USD
0.16%

USDT

1.00 USD
0.00%

BCH

129.41 USD
6.86%

Related news

Bitcoin Cash [BCH] escapes the bear as price shoots up by more than 7%

As the cryptocurrency market enters the last week of January, the behavior of tokens have also seen a change as some coins are in the green while others are still bleeding. The sporadic movement has been ongoing for quite some time now, with cryptocurrencies like Bitcoin [BTC], XRP and Bitcoin Cash [BCH] all suffering the same fate, until today. On January 23, Bitcoin Cash saw a resurgence with the prices climbing on the charts. At the time of writing, BCH was rising by 7.06%, with a total market cap of $2.295 billion. The cryptocurrency was trading for $129.85 and had a 24-hour market volume of $276.262 million. The chart showed that over the past 24 hours, Bitcoin Cash had climbed from a bottom of $119.94 to reach a peak of $130.42, before settling at its current price. The Chaikin Money Flow indicator on the chart also points to a significant spike, a sign of the massive amounts of money coming into the market during the price rally. The total trade volume of BCH was majorly split between three exchanges: LBank, Huobi Global and P2PB2B. LBank had a grasp on $22.821 million worth of BCH trade while Huobi Global and P2PB2B saw BCH transactions worth $35.191 million taking place on the platform. Bitcoin Cash has been in the news multiple times over the last few weeks, mainly due to updates and comments from its proponents. Roger Ver, the Chief Executive Officer of Bitcoin.com and one of the most vocal supporters, had recently announced that Bitcoin.com’s wallet will receive its update soon. The news had also rallied users of the wallet, one member even listing out the features needed in the update; spend and replace built right into the wallet, strong privacy thanks to Coinshuffle, and improving the transaction creation, signing, and broadcasting speed. The post Bitcoin Cash [BCH] escapes the bear as price shoots up by more than 7% appeared first on AMBCrypto.
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