Cryptocurrencies Price Prediction: Bitcoin Cash, Litecoin & Ripple – European Wrap 8 May


Bitcoin Cash reclaims $250 as a BCH-based DeFi startup raises $1 million in seed fund

Bitcoin Cash price advanced higher above $250 as BTC/USD surged above $10,000. The price action extended above towards $260 but hit a wall at $258 (intraday high). In the meantime, BCH/USD has adjusted lower to $250 as selling pressure makes a comeback. Generally, the entire cryptocurrency market is bearish during the European session.

BCH/USD price chart

Litecoin Price Analysis: LTC/USD falling within a descending channel

Litecoin price action continues to follow the confines of a descending channel after the recovery in the last week of April stalled under $50. The channel support remains instrumental in slowing down the selling pressure. Also vital to the buyers is the short-term support range; $44 - $45.

 

LTC/USD price chart

Ripple Price Analysis: XRP/USD stays in a range, fails to follow Bitcoin's recovery

XRP/USD has retreated from Thursday’s high of $0.2223 to trade at $0.2152 by press time. The coin has stayed mostly unchanged since this time on Thursday and lost about 1.5% since the beginning of Friday. Ripple’s XRP has been locked in a tight range since the start of the week, despite sharp Bitcoin’s recovery. Now it is the third-largest digital coin with a current market value of $9.5 billion and an average daily trading volume of $2.6 billion.

 

XRP/USD

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Bitcoin Cash Price Analysis: BCH sits on top of strong support barrier

Bitcoin Cash rose from $240 and rose to $276 between October 21 and October 24. After that, the price dropped to ~$260, found support at the 100-day SMA and has gone up to $266.50, as of writing.

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Tezos Price Prediction: XTZ facing potential bearish breakout towards $1.77

XTZ is currently trading at $2.08 right at the bottom of an ascending parallel channel formed on the daily chart. The digital asset is down 53% since its 2020-high at $4.47, established on August 12.

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The last time this indicator turned bullish LINK skyrocketed 300%

LINK established a bottom at $7.31 on September 23 and has rebounded strongly, reaching a peak of $12.97 just three days ago on October 24. The digital asset continues trading inside an ...

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MakerDAO Price Prediction: MKR aims at a potential price target of $700

MKR has been trading inside an ascending triangle for around 20 days, currently at $589, with a precise resistance level located at $604. The price got rejected several times from this upper boundary.

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Bitcoin Weekly Forecast: Bitcoin goes up as some of the world's largest currencies go down

While investors are waiting for BTC to retest all-time highs and shoot to the moon, it is already there. In some countries, the pioneer digital asset surpassed the peak of 2017 and hit new historic highs in local currencies.

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