Cryptocurrencies price prediction: Litecoin, Ripple & Bitcoin - 30 August
|Litecoin price analysis: LTC/USD controlled by bears, $62.00 within reach
At the time of writing, LTC/USD is changing hands at $62.83. The coin has been sliding down after a strong collapse below critical $70.00 on August 28. While the sell-off has slowed down, LTC/USD continues moving within a clear bearish trend. LTC/USD has lost 1.5% of its value since the beginning of the day and over 5% on a day-on-day basis.
Litecoin is now the sixth-largest digital asset with the current market value of $3.9 billion and an average daily trading volume of $3 billion. The coin yielded the fifth place in the global cryptocurrency rating to Tether.
Ripple market update: XRP/USD reversal rides on improving technical levels
Ripple bulls are taking a breather from the selling on Wednesday and Thursday. Cryptocurrencies led by Bitcoin dumped significantly after failing to break above key psychological levels. Ripple, for example, attempted to break above $0.28 but failed. The declines that swept across the market, overwhelmed various key support levels at $0.27, and $0.25.
As expected the major support at $0.24 came in the rescue of the buyers who would have been paralyzed on hitting levels close to $0.20. Recovery from the support stepped above $0.26 but the steam fizzled out short of $0.27 hurdle.
Bitcoin price analysis: BTC/USD treads above $9,500 nurturing the uptrend
The double-cross of the 50 SMA above the longer-term 100 SMA just gave Bitcoin a breathtaking boost above the resistance at $9,500. Bitcoin is teetering at $9,523 at the time of press. The immediate upside is capped at $9,600; the level that will determine the next direction for Bitcoin price. If BTC manages to correct above $9,600 we can expect a second leg above $9,800. However, a reversal short of $9,600 will demoralize the buyers resulting in a correction towards $9,300.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.