Daily analysis of Bitcoin Cash, Litecoin and Ripple Daily – 04/08/18

Bitcoin cash sees red again

Bitcoin cash fell 0.89% on Friday, after the 5.01% slide on Thursday, to close the day at $ 724.5, with five days consecutive losses that caused Bitcoin Cash to drop by 12.82% for the current week.

A continuation of Thursday's sell-off saw the initial $ 731 Bitcoin Cash fall, with the first major support level at $ 706.2 at an intraday low of $ 700.3, before recovering to $ 720 in the early afternoon , Bitcoin Cash unable to break back up to $ 730 to end the day in red.

Losses over the course of the week reaffirmed the extended downtrend at the beginning of May to $ 1,849.9, with a $ 900 reduction needed to start a bearish turnaround.

At the time of writing, Bitcoin Cash rose 1.34% to $ 734.3, with Bitcoin cash recovering from a minimum of $ 721.7 to reach $ 739.9 in the morning , exceeding the first resistance level at $ 736.9, while the first major support level of the day at $ 706.2 has not yet been tested.

For the next day, a return to the first major resistance level at $ 736.9 would have supported a run at $ 740 levels to bring the second highest resistance level to $ 749.3 in play, while we expect Bitcoin Cash reaches $ 750 a day.

Failure to open at $ 740 in the early afternoon could see Bitcoin Cash returning backwards, with a decline in the morning of $ 721.7 bringing the first highest level of support to $ 706.2 in play, even if we expect Bitcoin Cash to avoid levels below $ 700 despite the continuing downward trend on the intraday lows.

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = " Join Bitcoin Cash Trading Today " data- reactid = "38"> Enter Bitcoin Cash Trading Today

Litecoin finds support

Litecoin earned 1.73% Friday, inverting Thursda the 1.82% down, to close the day at $ 77.55, with 4 days of losses during the week, leaving Litecoin down 7.68% from Monday to Friday.

Following the larger market, an early sale saw Litecoin fall to an intraday low of $ 75, asking for support at the first level of main support at 75.03 before recovering in the afternoon.

At the end of the day $ 77.8 intraday high came within the range of the first main resistance level at $ 77.91 before slowing down, the extended downtrend steadily intact while Litecoin continued to fall well below $ 90 levels and 23.6% of the FIB retracement level of $ 98.

At the time of writing, Litecoin was up 0.1% to $ 77.68, with Litecoin recovering from a low start of the day $ 77.22 to exceed $ 78 levels before slowing down, the high of the early morning does not exceed the first major resistance level at $ 78.57.

For the day ahead, a new break up to $ 78 levels and a break through the first major resistance level at $ 78.57 wo Bring $ 79 into play for the first time since Wednesday, while breaking through the second level Resistance greater than $ 79.58 will likely be too long a stop, ending the day at $ 78 a positive result for Litecoin.

Failure to break through to $ 78 levels could see Litecoin going upside down, after Friday's gains, with a fall up to $ 76 levels bringing the first major support level of the day to $ 75.77 in play, a hold higher than $ 76.8 through the morning key for Litecoin to avoid an afternoon crash. [19659018] {alt} "class =" JsEnabled_Op (0) JsEnabled_Bg (n) Trsdu (.42s) Bgr (nr) Bgz (cv) Maw (100%) "itemprop =" url "style =" background-image: url (https://s.yimg.com/ny/api/res/1.2/iB_dz0gg8b9jX4GwV4nhNw–~A/YXBwaWQ9aGlnaGxhbmRlcjtzbT0xO3c9ODAw/http://media.zenfs.com/en-US/homerun/fx_empire_176/b588ea15cc72741a26f3fa2ec30f8afc); "src = "https://s.yimg.com/g/images/spaceball.gif" data-reactid = "50" />

<p class = "canvas -atomo canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm "type =" text "content =" Buy & amp; Sell ​​Cryptocurrency instantly "data-reactid =" 70 "> Buy and sell Cryptocurrency Instantly

Ripple gains ground

Ripple's XRP gained 2.34% on Friday, partially reversing the a 4.08% decline on Thursday, to end the day at $ 0.44046, the week's losses to just 2.88%.

An initial slide to an intraday low of $ 0.42161 saw the Ripple's XRP keep above the first major support level at $ 0.4209, with an early rebound that sees Ripple's XRP reporting to 0.44 levels at half-reduced.

XRP of Ripple passed the first resistance level at $ 0.4447 with an intraday high in the early afternoon high $ 0.44633 before slowing down, the extended bearish trend intact with Ripple's XRP continues to fall well below the 23.6% retracement level of $ 0.5528.

At the time of writing, Ripple's XRP was the n rise of 0.65% to $ 0.44331, with Ripple's XRP picking up from a low start of the day to $ 0.43868 to get back to $ 0.44 levels, an early morning high $ 0 , 44 473 fails to reach the first main resistance level at $ 0.4507.

For the day ahead, a transition of up to $ 0.446 will support a run at the first major support level at $ 0.4507, while we expect $ 0.46 levels and the second main resistance level at $ 0.4609 for be out of reach for the day.

Failure to move to $ 0.446 and the move to $ 0.45 levels could see Ripple's XRP back in the day, down to $ 0.43 levels bringing the first level of support main to $ 0.4249 in play.

<p class = "canvas-text canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = " Buy & Sell now Cryptocurrency " data-reactid = "98"> Buy and sell now Cryptocurrency

<p class = "canvas-text canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm "type =" text "content =" This article was originally published on FX Empire "data-reactid =" 100 "> This article was originally published on FX Empire

More from FXEMPIRE:

Source link