Last week has been pretty tough for the cryptocurrency industry as well as for the investors and enthusiasts. Bitcoin started the week at a good note, but by the end of the week, it declines down to $9,900 support level.
The was a lot of trading done at various levels, but things picked up pace today as the bulls gave the much-needed push to Bitcoin. With this push, we saw an upward trend in the price of Bitcoin, and it started the day by trading at $10,500.
Currently, Bitcoin is trading at $10,347.18 with strong resistance at the level of $10,650. The immediate support at this trading level is at $10,150, followed by $10,000. The $10,250 is acting as a support for this trade point.
According to the chart, for a further bullish push, the trade will have to close after the $10,500 level. If the bulls manage to defend this resistance level and give a push, the next resistance can be seen at $10,700 and further than that, Bitcoin can test the $11,000 level.
Any downward correction in the day can cause a decline in the price of Bitcoin, and the support levels can go down and test the $9,900 and $9,800 support levels.
From the past few days, Ethereum has been struggling to break through the resistance levels of $195 and $193. The price had a decent support level of $185, and recently it started a bullish trend. It went all the way till $197 but immediately came down to $185-$186.
Currently, it is trading at $190.76, which is a big pull since yesterday. A rise in Bitcoin has affected the whole digital currency market, and Ethereum saw it’s effect as well.
The resistance level has been set at $194 whereas an immediate support level is available at $188 and followed by that at $186. Currently, it is facing strong resistance to go above the $191 level. If the upward trend continues, then the price can check the resistance levels of $200 and $202, but if a downward trend comes back, the prices can go all the way down till $184-$182.
Ripple didn’t see much changes recently in the price trend. There was a slightly bearish trend with a little downward correction, but Monday came in bearing good news. Yesterday the day ended with XRP trading in at $0.2690.
Currently, XRP is trading at $ 0.2705, and there is a good chance that the Ripple bulls will try to hold this place till the end of the day. The resistance is at $0.2780 and $2800 levels, whereas the immediate support for XRP is available at $0.2680 and $0.2650.
According to the chart, the trend can either be bullish or bearish, but if the trading ends at $0.2705, then we can expect some upward trends for tomorrow.
Litecoin was pretty stable in the last week and closed the week with a slight downward correction. Today it started the day with an improvement in its price with a bullish trend.
Currently, Litecoin is trading at $73.80, and an upward trend can be seen through the charts in the price of Litecoin. Strong resistance can be seen at $75. The support levels formed for LTC are at $72, and if a decline occurs, then it can further test the range of $69-$70 support levels.
Bitcoin Cash ended the week on a bearish trend after reaching the week’s high price of $316 on 24th August. But today it started again with a bullish push at $305.43 and further went on.
Currently, it is trading at $311.11, which is an improvement from yesterdays $305. There is a strong resistance that is faced by BCH at $314 while a downward correction can make it test the support levels of $305 and $300 again in the future.