The cryptocurrency market seems to be battling a bearish storm today. At the time of writing only Tether [USDT], the stablecoin is standing unnerved amidst a strong bearish market. The top players of the crypto market are exhibiting a slump in performance with Bitcoin Cash [BCH] and Litecoin [LTC] experiencing a sharp dip.
Akin to the other coins, Bitcoin Cash [BCH] is showing a steep fall disappointing investors. BCH has dipped by 8.87% in the past 24 hours. The prices which found support at $541.8 experienced a breakout and looks like it is heading towards the critical support level found at $480. While the prices are eyeing the $601 handle, the current resistance level is set at $576. The 100 EMA line trading at $551.88 is on a downtrend with the MACD in a bearish zone. BCH is currently trading at $510.3 and with a trading range between $506.4 to $576.4.
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Bitcoin Cash is dipping against BTC at the rate of 6.42%. Currently, one BCH is equal to 0.0821 BTC.
According to Tradingbeasts BCH prices are expected to touch $1930 – $2838 by the end of the year. Profitconfidential is a bit too optimistic about the future of Bitcoin Cash. They predict that the BCH price would be around $7000 by the end of this year.
Longforecast deems that the prices would close at $412 at the end of the year. They predict BCH would touch $1150 by the end of 2020.
Litecoin [LTC] is currently trading at $53.784 and has dipped over 6.71% in the past 24 hours against USD. Seller pressure is building and the prices might dip to reach the local support level found at $50. The prices which found support at $55.193 during the day experienced a breakout and is yet to find footing. The strong bearish winds are causing the prices to shy away from the current resistance level of $57.778. The 100 EMA line trading at $56.94 is exhibiting a downtrend with the MACD showing a bearish momentum.
At the time of writing one LTC is equal to 0.0086 BTC. LTC has lost against BTC by 3.62% in the past 24 hours.
LTC Price Prediction 2018, 2020
According to Smartereum, many in the crypto community believe that the crypto could potentially end the year at around $600 or so. Going by a forecast by investingpr.com, the price of the coin could reach up to $1,000 by this year.
Steemit.com has predicted that the digital asset could reach $3,500 by the year 2020 while Longforecast.com expects the virtual currency to be in the range of $780-$1,374 in 2020.
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