Table of Contents
Bitcoin Cash:
Bitcoin Cash is falling on a consistent basis. On Saturday, it lost around 1%. On Friday, it lost around 6%. If you take into account the losses in the last one week, it has lost approximately 22% of its value. The recent intraday low was even below $ 1000. When you look at the upcoming supports, you will realize that it is only around the $ 970 mark. If indeed, it sustains consistently below $ 1000 mark, it can take that support as well. That is why investors are closely watching out the support levels as well.
On the upside, it did not even manage to test the 23.6% FIB level. The level is around $ 1060. It was not able to test this level as well. Currently, as well, it is below $ 1000. The more time period, for which it sustains below $ 1000, the greater will be the loss of momentum. As a result, it will not be able to test the resistance on the upper side.
Litecoin remains stagnant:
On Saturday, Litecoin lost around 0.6%. However, on Friday, Litecoin lost around 3.2%. In the last 7 days, it has lost approximately 15%. This indicates that even though Litecoin is currently stagnant but it has been losing value quite briskly as well. Also, for a short duration of time, it has risen above $ 120. However, it is most likely to move back down as well. On the upper side, the resistance now stands at $ 123. This is the 23.6% FIB retracement level. As a result, it will be necessary to watch out whether it is able to cross those levels or not. Only when it is able to cross those levels, it can move higher.
Ripple:
On the other hand, when you look at ripple, it is down by around 13% for the current week. However, in the last 48 hours, it has not lost much of its value. This clearly indicates that it is having more resilience as compared to the couple of other cryptocurrencies which we discussed above. Currently, it is trading around $ .60 mark. It had briefly risen to about $ .62 as well. However, it remains to be seen whether it is able to sustain around those levels or not.
Thus, when you look at the 3 popular cryptocurrencies which we discussed above, you will realize that most of them are in a bearish trend. As a result, it is a good idea to avoid investing in these cryptocurrencies. When you opt for the weight and watch mode, it will indeed become easier for you to understand better the technical patterns which are emerging. Keyword: Ripple, Bitcoin Cash, Litecoin
