Cryptocurrency Update: Bitcoin, Ethereum, Ripple, Bitcoin Cash and Litecoin
17 April, 2018
Cryptocurrencies perform in mixed dimensions across all bourses
Bitcoin, Litecoin falls prey to market pessimism and turbulence
Ethereum, Ripple and Bitcoin Cash gained 0.20-2%
BTC/USD (Bitcoin): The price of bitcoin again started to crash Tuesday after a ray of silver lining seen Monday as institutional leaders have marked the crypto asset as a "freak show" amid the possibility of potential arrival of institutional money. At 10:15GMT, it was trading tad 0.02% down at $8,099.00 on the Bitstamp exchange.
Technical Analysis Overview: The immediate support level is seen at 7,568.79 and immediate resistance level at 8,423.67; S2 is eyed at 7,164.30 and S3 is seen at 6,415.82 (trend-defining level). Meanwhile, R2 shall be targeted at 8,692.14.
ETH/USD (Ethereum): The world’s second-largest cryptocurrency in terms of market cap, Ethereum, however, ditched the footsteps of its wider peer, rising as against Bitcoin’s movement after weeks of price nervousness. At 10:25GMT, it was trading 0.22% up at $514.67.
Technical Analysis Overview: The immediate resistance is seen at 546.12, R2 at 591.09 and R3 at 623.51. The immediate support is seen at 485.22 and S2 at 453.22.
XRP/USD (Ripple): The third most popular cryptocurrency, Ripple showed up no differently to Ethereum, also rising, as bulls fought to beat the bears despite traces of pessimism still hovering around in the digital currency market. At 10:30GMT, it was trading nearly 2% higher at $0.67154.
Technical Analysis Overview: The immediate resistance is seen at 0.71089, R2 at 0.72559 and R3 at 0.79187; the immediate support is seen at 0.62147 and S2 at 0.55407.
BCH/USD (Bitcoin Cash): The bitcoin cash remained no different, gaining in line with its counterparts, albeit in contrast to bitcoin, holding above the $750 psychological mark. At 10:35GMT, it was trading 1.58% higher at $771.00.
Technical Analysis Overview: Bitcoin Cash is moving closer to its immediate resistance level at 803.8, R2 at 844.3 and R3 at 928.9. The immediate support is seen at 721.0, S2 at 697.0 (trend-defining level) and S3 at 647.3 on the Kraken exchange.
LTC/USD (Litecoin): Litecoin, however, did not align its movements with its other cousins, slumping, in correlation to bitcoin prices. At 10:40GMT, it was trading 1.16% lower at $127.89.
Technical Analysis Overview: The immediate support shall be provided at 124.17, S2 at 119.27 (trend-defining level) and thereafter, 109.44 will act as the third support level. The first resistance level is seen at 137.05 and R2 at 149.25.