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$ 105,042.7
BTC
$ 105,042.7
1.76 %
$ 2,495.51
ETH
$ 2,495.51
1.59 %
$ 0.6687
ADA
$ 0.6687
4.52 %
$ 649.58
BNB
$ 649.58
1.19 %
$ 152.58
SOL
$ 152.58
3.48 %
Richard Adrian
Aug 19, 2019
by Richard Adrian

Altcoins and Bitcoin Face Risk of Weakness

altcoins

Table of contents

  1. BTC
  2. ETH
  3. EOS, Bitcoin Cash and XRP
Crypto markets have been facings similar upside capping. While Bitcoin has dropped below the $10, 000 marks, Ethereum is still undergoing resistance levels between $185 and $190 support areas. Ripple (XRP) is also facing massive pressure around the support areas of $0.265 and $0.280. Coins that could be heading for a slump include, BTC, ETH, XRP, Litecoin, BNB, XLM, ADA, TRX, Bitcoin cash and EOS.

BTC

Bitcoin’s momentum began fading at around $10,200. The coin is now facing fresh drop and is trading below $10, 000 and $10,100 support levels. As of press time, the price is below $10,000 and an immediate support around $9, 920. However, you could expect a price correction revisiting the $9,500 support area. Fortunately, there is price hurdle around $10,150 and in case the price recovers above $10, 150; it might rise all the way towards a $10, 350.

ETH

Ethereum price refused to correct above the resistance levels, $190 - $192. The coin faced a price decline on Thursday and is currently trading below $190. The main support level is somewhere around $175 and you might expect a major drop below $162. Probably, $185 could be a lifesaving price hurdle that could see the price correct towards $200, or measly above $190.

EOS, Bitcoin Cash and XRP

Other altcoins performance,

EOS is under due pressure below the support levels $4.00 and $3.85. The trading price is below $3.650 and faces a downside risk of performing below $3.50 and $3.45 support levels. We expect the next major support to hit the $3.25 grounds.

XRP is in a major downtrend following a whale movement worth millions of dollars. Despite playing around $0.285 and $0.272 resistance levels, XRP price could correct with a slide towards a support of $0.250.

Bitcoin Cash remains below the main resistance area of $320. Currently approaches support levels between $305 and $300. A break below $300 support levels, would risk strong drops towards $280 and $275.

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Altcoins and Bitcoin Face Risk of Weakness
Richard Adrian
Richard is a versatile fintech analyst with a deep understanding of blockchain domains. As much as technology fascinates him, he finds the intersection of both technology and finance mind-blowing. The firm belief that fintech will drive the future has brought him to the crossroads of Fintech discoveries and transmission of immutable data to a wider audience.

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