Cryptocurrencies price prediction: Bitcoin Cash, Ethereum & TRON - European Wrap - 16 October
|Bitcoin Cash price analysis: BCH/USD failed breakout attempt jeopardizes $220 support
Bitcoin Cash's current trend has a bearish bias. This comes after a desire to rise above $230 failed earlier this week. BCH also ran out of the energy to defend the support offered by the 50 Simple Moving Average (SMA) on the one-hour chart and the 100 SMA around $225.
Ethereum market update: ETH/USD drops below DMA50 amid growing bearish sentiments
ETH created the recent top at $197.80 on October 11 and has been sliding down ever since. The second-largest digital asset retreated below $180.00 during early Asian hours amid the sell-off on the cryptocurrency market. This development has worsened the technical picture and made the coin vulnerable to further losses. Ethereum’s market value is registered at $19.4. The coin is down 2.7% on a day-on-day basis.
TRON price analysis: TRX/USD claws back ground after a sharp-sell-off
At the time of writing, TRX/USD is changing hands at $0.0156. The coin has lost over 5% in seven 24 days, and the downside momentum is still strong. Currently, TRON takes the 11th place in the global cryptocurrency market rating with the market value of $1.- billion and an average daily trading value of $616 million.
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