Bitcoin (BTC), Ethereum (ETH), XRP, Bitcoin Cash (BCH), Bitcoin SV (BSV) and Litecoin (LTC), which currency will fall the most?
This analysis provides an overview of how BTC, ETH, XRP, BCH, BSV and LTC have fared and how they will behave from now on.
The first day of the weekend was negative for most currencies in the top 10 list. However, there are also some exceptions. EOS, for example, has shot up another 3.59% since yesterday.
Below are the main data for Bitcoin (BTC), Ethereum (ETH), XRP, Bitcoin Cash (BCH), Bitcoin SV (BSV) and Litecoin (LTC):
BTC / USD
Bitcoin (BTC) has been losing some of its value since yesterday. The decline was 0.51%; however, the increase in short-term prospects remains.
Looking at the hourly chart, Bitcoin (BTC) has regained its $ 9,600 support zone. Trading activity is usually quite low, suggesting that a sharp rise or fall is unlikely. Although sellers have continued to lower the rate since the $ 10,000 drop, a small increase between the $ 9,760 to $ 9,800 zone may occur in the near future.
At the moment, Bitcoin was trading at $ 9,692.
ETH / USD
Ethereum (ETH) is being traded in a similar way to Bitcoin (BTC) as a short-term perspective. The currency price has risen 0.59% since yesterday. In the last week, the appreciation represented an increase of 4.55%.
Looking at the daily period, the growth of the last few days was not accompanied by an increase in the volume of trading. As a result, the currency was in a narrow range.
One more reason for a continued decline is the lack of liquidity. In short, the explosion above $ 250 can be considered a false escape, followed by a nearby eviction. In this particular case, the closest resistance is the $ 225 mark.
So far, Ethereum was trading at $ 244.05.
XRP / USD
If Bitcoin (BTC) and Ethereum (ETH) have the potential to increase on weekends, XRP has a low probability of doing the same thing. The rate for the third most popular cryptocurrency rose 0.02%.
Looking at the daily chart, XRP is about to end a triangle formation. As the trend has changed from high to low, the pattern is about to collapse with the terminal at $ 0.1750. It is supported by the fact that buyers do not have the strength to increase the rate, which is described in the trading volume.
At the time, XRP was trading at $ 0.2037.
BCH / USD
After trading on a growing channel since mid-March 2020, Bitcoin Cash (BCH) also has a downward trend. The value of BTC’s most popular fork has dropped 0.60% in the past 24 hours.
After confirming the false escape, Bitcoin Cash (BCH) tested the $ 268 again. Currently, there is a high probability of forming a Triangle pattern, which will confirm the beginning of a trend change. This statement is supported by the lack of liquidity and a decrease in the volume of purchases negotiated. In summary, the $ 246.30 support zone could be reached next week.
Bitcoin Cash is currently trading at $ 255.68.
BSV / USD
Bitcoin SV (BSV) is looking slightly better than Bitcoin Cash (BCH). The currency rate has fallen 0.23% since yesterday.
According to the graph, the drop line was not broken. This suggests that the recent hike was the local peak, followed by a future decline. Observing the daily period, you can see long candles, which are a bearish signal. If Bitcoin SV (BSV) continues to fall, the first stop will be at $ 190.
At the moment, Bitcoin SV was trading at $ 193.97.
LTC / USD
It is also unlikely that Litecoin (LTC) will grow in the short term. Since yesterday, the currency has fallen 0.43%.
Looking at the daily period, ‘digital silver’ is forming a pattern of Head and Shoulders. In this particular case, the level of the right shoulder will be at the $ 43.25 mark. The likelihood of a decline is also supported by the downward divergence in the Relative Strength Index (RSI), as well as a decline in turnover. To sum up, the upward trend that started in mid-March is about to end.
At the time, Litecoin was trading at $ 46.87.