Bitcoin Cash [BCH] struggles to stay afloat while Litecoin [LTC], TRON [TRX] sink: Technical Analyses and Latest Updates 20866
Analysis
Jessica Kuruthukulangara
Aug 12, 2018 at 5:30 AM

Looks like the bears in the crypto market aren't going anywhere any time soon. Bitcoin Cash [BCH] is trying to remain in the green, while Litecoin [LTC] and TRON [TRX] have succumbed to the broader downtrend seen in other coins.

BCH/USD

Bitcoin Cash [BCH] is struggling to fight selling pressures, and is attempting to stay in the green. The crypto found support at $547.2 and remained in a phase of consolidation. The digital asset is attempting to break out from the current resistance level, traced at $579.4.

The 100 EMA line, at the time of writing, showed that BCH was in a downtrend while the MACD indicated that the digital currency was trading in bearish territory. The coin is in a significant trading range of $536-$582.2. As of 2200 GMT, BCH had inched 0.4 percent higher against the U.S. dollar to trade at $573.9.

Bitcoin Cash [BCH] struggles to stay afloat while Litecoin [LTC], TRON [TRX] sink: Technical Analyses and Latest Updates-BCFocus

BCH Latest Updates

U.S. satellite TV provider DISH recently said that it would accept Bitcoin Cash [BCH] as payment from its subscribers. Customers can use Bitcoin and Bitcoin Cash to pay for their monthly subscriptions. These digital assets can also be used to pay for pay-per-view movies and events.

LTC/USD

Litecoin’s [LTC] decline is pretty much in line with the broader crypto market. The coin earlier found support at $55.4 but has failed to show significant gains. The virtual currency is attempting to break out from the current resistance level, which can be found at $59.5.

See also: Cardano [ADA] in bullish zone while Litecoin [LTC] and Ethereum [ETH] fight a downtrend: Technical Analyses and latest updates

The MACD indicates that the coin is locked in the bearish zone while the 100 EMA line shows that LTC is in a downtrend. The significant trading range is seen at $54.8-$59.9. As of 2210 GMT, the crypto had inched down 0.8 percent against the U.S. dollar to trade at $58.95.

Bitcoin Cash [BCH] struggles to stay afloat while Litecoin [LTC], TRON [TRX] sink: Technical Analyses and Latest Updates-BCFocus

LTC Latest Updates

Litecoin [LTC] transactions will now be possible through Telegram while payment through text messages (SMS) will soon be made available. This will be done through the new Litecoin feature Lite.im, which has been developed by blockchain start-up, Zulu Republic.

TRX/USD

TRON [TRX] is struggling to stay afloat amid the broader bearish trends seen in the market. The coin breached the initial support level, traced at $0.022, after it failed to maintain upward momentum. The crypto has found support at $0.021, but has yet failed to break out from the current resistance level, noted at $0.024.

See also: Tron (TRX) transactions on Twitter will soon be available with Seedit

The 100 EMA line shows that TRX is in a downtrend while the MACD indicates that the coin is trading in bearish territory. TRX is currently exhibiting a significant trading range of $0.022-$0.024. As of 2219 GMT, the digital asset had dropped 1.2 percent against the U.S. dollar to trade at $0.024.

Bitcoin Cash [BCH] struggles to stay afloat while Litecoin [LTC], TRON [TRX] sink: Technical Analyses and Latest Updates-BCFocus

TRX Latest Updates

  • TRON recently said Seddit, its payment platform, will soon launch on Twitter. This will allow users to send TRX all around the world using various social media platforms such as Telegram, Twitter, Reddit and Kakao.
  • TRON also confirmed that it had completed the acquisition of blockchain.org – a domain name that would serve as a blockchain data and search engine platform. The platform will provide big data analysis, project evaluation, information search and other services related to blockchain information.

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