The cryptocurrency market seems to take a break from the recent bear run. Bitcoin Cash [BCH] Stellar Lumens [XLM] and Litecoin [LTC] are showing signs of recovery, as was the case in most of the cryptos on Tuesday. However, it appears that bears remain suspended in the background, limiting large gains in most virtual currencies.
BCH / USD
Bitcoin Cash [BCH] is rising, in line with a broader recovery seen in the cryptocurrency market. BCH found support at around $ 692.7 and reached a maximum of $ 707.9. After experiencing a brief consolidation phase, the currency is not attempting to break out of the current resistance level, which is set at $ 710.4. The MACD shows that the digital asset is slowly creeping into the bullish zone, having spent most of the day in bearish territory. The 100 EMA line at the time of writing indicates that the currency is showing a downward trend after briefly showing a stable trend. Starting from 1758 GMT, the BCH rose 2.2 percent more than the US dollar to trade at $ 706.36. The coin is in a significant trading range of $ 688.2- $ 713.
XLM / USD
Stellar Lumens [XLM] struggled to increase by one centimeter, as the currency fought intense selling pressures in over a week. The virtual currency found support at $ 0.23, and gained steam for a while. However, XLM is unable to get out of the current resistance level, which can be traced to $ 0.24. The 100 EMA line shows that the digital currency still shows a downward trend, as in the case of 29 July. However, at the time of writing, the MACD indicated that cryptography was pushing into the bullish zone, and could still have the potential to recover. The currency is considered in a significant trading range of $ 0.23 – $ 0.25. Starting from 1823 GMT, the crypt rose by 3.9% against the US dollar, trading at $ 0.24.
XLM Latest updates
More recently, the Stellar project – which is behind the digital token – was recently declared compliant with Sharia by the Central Bank of Bahrain. The central bank noted that Stellar was "the first distributed accounting protocol to receive Sharia compliance certification in money transfer and in the tokenisation space of resources."
LTC / USD
Litecoin [LTC] is monitoring its crypto-peers and showing signs of recovery. The currency found support at around $ 73.3 and proceeded to rise higher. Since then, the digital asset has been trying to get out of the current resistance level, which is $ 74.9. The 100 EMA line indicates that the crypt is showing a stable trend. The MACD showed that the digital currency, at the time of writing, was steadily making its way into the bullish zone. The currency was previously traded in bearish territory for most of the day. The currency is currently locked in a significant trading range of $ 73.16 – $ 75.15. Starting from 1841 GMT, LTC was 1.5% stronger than the US dollar, trading at $ 74.46.
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