Bitcoin Cash – ABC – Gives up $300
Bitcoin Cash ABC slid by 2.1% on Wednesday. Following on from a 1.48% from Tuesday, Bitcoin Cash ABC ended the day at $297.61.
A bullish start to the day saw Bitcoin Cash ABC rise to an early morning intraday high $306.45 before hitting reverse.
Falling well short of the first major resistance level at $308.53, Bitcoin Cash ABC slid to a late afternoon intraday low $290.24.
The sell-off saw Bitcoin Cash ABC slide through the first major support level at $297.02 and second major support level at $291.78.
Finding support late in the day, Bitcoin Cash ABC broke back through the support levels to limit the downside on the day.
At the time of writing, Bitcoin Cash ABC was down by 1.05% to $294.49. Another bullish start to the day saw Bitcoin Cash ABC rise to an early morning high $299.86 before falling to a low $294.49.
Bitcoin Cash ABC left the major support and resistance levels untested early on.
For the day ahead, A move back through to $299 levels would support another run at the first major resistance level at $305.96.
Bitcoin Cash ABC would need the support of the broader market, however, to break out from this morning’s high $299.86.
Barring a broad-based crypto rebound, resistance at $300 would likely pin Bitcoin Cash ABC back in the day.
Failure to move back through to $299 levels could see Bitcoin Cash ABC slide deeper into the red. A fall through to Wednesday’s low $290.24 would bring the first major support level at $289.75 into play.
Barring an extended sell-off, Bitcoin Cash ABC should steer clear of the second major support level at $281.89.
Litecoin Holds onto $70
Litecoin fell by 1.29% on Wednesday. Reversing a 1.19% gain from Tuesday, Litecoin ended the at $69.81.
A bullish start to the day saw Litecoin rise to an early morning intraday high $71.7. Falling short of the first major resistance level at $72.79, Litecoin fell back to a late morning low $69.94.
Steering clear of the major support level at $69.17, Litecoin recovered to an afternoon high $71.33 before hitting reverse.
The second reversal saw Litecoin slide through the first major support level at $69.17 to a late afternoon intraday low $68.21.
Finding support late on, Litecoin recovered to $69 levels to cut the deficit on the day.
At the time of writing, Litecoin was down by 1.56% to $68.72. Through the early hours, Litecoin rose to a morning high $70.0 before sliding to a mid-morning low $68.44.
In spite of the choppy start, Litecoin left the major support and resistance levels untested early on.
For the day ahead, a move back through the morning high would be needed to bring the first major resistance level at $71.6 into play.
Sentiment across the broader market would need to materially improve, however, for Litecoin to move back through to $69 levels.
In the event of a rebound, Wednesday’s high $71.7 and first major resistance level at $71.6 would likely limit any upside.
Failure to move back through to $70 levels will leave Litecoin in the red on the day. A fall back through the morning low $68.44 would bring the first major support level at $68.11 into play.
Barring an extended sell-off, Litecoin should steer clear of sub-$67 support levels on the day.
Ripple’s XRP Sees Distance Widen from $0.26
Ripple’s XRP fell by 1.21% on Wednesday. Following on from a 0.21% decline on Tuesday, Ripple’s XRP ended the day at $0.25568.
Tracking the broader market, Ripple’s XRP rallied to an early morning intraday high $0.26144 before hitting reverse.
Falling short of the first major resistance level at $0.2639, Ripple’s XRP slid to a late afternoon intraday low $0.25108.
The reversal saw Ripple’s XRP fall through the first major support level at $0.2537.
Steering clear of sub-$0.25 support levels, Ripple’s XRP found support from the broader market to limit the day loss.
At the time of writing, Ripple’s XRP was down 1.29% to $0.25239. A bullish start to the day saw Ripple’s XRP rise to an early morning high $0.25660 before falling to a low $0.25162.
Ripple’s XRP left the major support and resistance levels untested early on.
For the day ahead, a move back through to $0.2560 levels would support a run at the first major resistance level at $0.2611.
Support from the broader market would be needed, however, for Ripple’s XRP to break out from the morning high $0.2566.
In the event of an afternoon rebound, Wednesday’s high $0.26144 and first major resistance level would likely limit any upside.
Failure to move back through to $0.2560 levels would see Ripple’s XRP struggle through the day.
A fall through the morning low $0.25162 would bring the first major support level at $0.2511 into play.
In the event of an extended sell-off through the day Ripple’s XRP could test the second major support level at $0.2457 before any recovery.
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Bitcoin Cash (BCH/USD) forecast and analysis on September 16, 2019
Cryptocurrency Bitcoin Cash (BCH/USD) is trading at 304. Cryptocurrency quotes are trading above the moving average with a period of 55. This indicates a bullish trend on Bitcoin Cash. At the moment, cryptocurrency quotes are moving near the upper border of the Bollinger Bands indicator stripes.
Bitcoin Cash (BCH/USD) forecast and analysis on September 16, 2019
As part of the Bitcoin Cash forecast, a test of level 300 is expected. Where can we expect an attempt to continue the growth of BCH/USD and the further development of an upward trend. The purpose of this movement is the area near the level of 318. The conservative area for buying Bitcoin Cash is located near the lower border of the Bollinger Bands indicator strip at 292.
Cancellation of the option to continue the growth of the Bitcoin Cash rate will be a breakdown of the lower border of the Bollinger Bands indicator stripes. As well as a moving average with a period of 55 and closing of quotations of the pair below the area of 285. This will indicate a change in the current trend in favor of the bearish for BCH/USD. In case of breakdown of the upper border of the Bollinger Bands indicator bands, we should expect an acceleration in the fall of cryptocurrency.
Bitcoin Cash (BCH/USD) forecast and analysis on September 16, 2019 implies a test level of 300. Further growth is expected to continue to the area above the level of 318. The conservative area for buying Bitcoin Cash is located area of 292. Cancellation of the growitcoin Cashth option of cryptocurrency will be a breakdown of the level of 285. In this case, we should expect a further fall.
HTC Exodus 1 Adds Bitcoin Cash Support
The Exodus 1 HTC blockchain phone will soon be integrating native support for Bitcoin Cash, allowing users to store, send and receive BCH.
According to reports released today, HTC partnered with Bitcoin.com to add support for Bitcoin Cash on its Exodus 1, a feature which will be pre-installed on the blockchain phone. The new f Bitcoin.com wallet function will be integrated with the next software update of Exodus 1. Also, Bitcoin.com will sell Exodus 1 and other upcoming versions at a discounted price.
HTC’s chief decentralization officer Phil Chen said that the Exodus 1 was built to bring forth a “fully decentralized web where users have full control over their data and assets,” adding that the first step towards decentralization was to enable to wallet owners to hold their own keys.
“The Zion Vault is happy to support BCH natively in hardware so security goes hand-in-hand in the BCH blockchain as an alternative to dominant payment rails and platforms,” said Chen. The partnership enables Zion Vault, the phone’s private custodial wallet, to sign off and secure BCH transactions made to and from the wallet.
“Bitcoin.com’s partnership with HTC will enable Bitcoin Cash to be used as peer to peer electronic cash for the millions of HTC smartphone users around the world,” said Bitcoin.com Executive Chairman Roger Ver.
HTC announced the first blockchain-based phone of the Exodus project, the ‘EXODUS 1,’ in October 2018, at Consenses. The two only other cryptocurrencies that were supported up until now were Bitcoin and Ethereum. The blockchain phone is currently sold at a price of around $699.
HTC performed constant updates on Exodus 1, adding new blockchain features along the way. In May, an updated which integrated Kyber Network’s liquidity protocol into Zion Vault’s wallet allowed users to make direct crypto swaps from within the wallet.
HTC is expected to soon release a second-generation blockchain phone, Exodus 1s, which will be more affordable than Exodus 1.
Roger Ver plans to launch Bitcoin Cash derivatives platform
Bitcoin Cash head honcho Roger Ver has revealed plans to launch a BCH derivatives market alongside the newly-launched Bitcoin.com exchange.
According to Bloomberg, who spoke to the exchange’s chief executive David Shin, the launch of new financial products is a way of increasing the trading volume of Bitcoin Cash to make it comparable with Bitcoin itself.
“Within a year, I want to make that the second- or third-largest market cap,” Shin said.
“To get from No. 4 to No. 3 or No. 2, we have to see more volume.”
In terms of the exchange, there are currently plans to list BCH futures on a CFTC-regulated market to increase interest from institutional traders.
“We’ll try to list a BCH future on one of these exchanges that’s CFTC regulated to, therefore, have a product that can be traded into the US with institutional traders,” Shin told Bloomberg.
“In theory, we should see more penetration, more users, more trading, and more volume.”
Coin Rivet reported on Bitcoin.com’s exchange launch last week, with offerings of peer-to-peer local transactions and the ability to trade without going through KYC requirements.
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