Cardano [ADA] in bullish zone while Litecoin [LTC] and Ethereum [ETH] fight a downtrend: Technical Analyses and latest updates 20731
Analysis
Priyanka Babu
Aug 10, 2018 at 1:15 AM

The overall coin market seems to be on a path to recovery. Cardano [ADA], Litecoin [LTC], and Ethereum [ETH] seem to charm the buyers. The investors are starting to buy assets at low prices making way for a market recovery.

ADA/USD

Cardano prices have resumed an uptrend. The price which dropped sharply over the last 24 hours seems to have gained a bullish momentum. The prices found support $0.11 and buyers are currently taking advantage of the market crash. The 100 EMA line trading at $0.1228 suggests a stable trend. The prices seem to be aiming towards $0.134, the first resistance level. MACD has moved over to the bullish trendline. ADA is currently trading at $0.120 and is gaining against 7.02%.

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

Cardano Latest Updates

The Cardano Foundation is on its way to becoming more transparent. The foundation announced on Tuesday that FP Complete, which provides blockchain auditing services, will now audit Cardano’s software libraries as well. Going forward, the foundation and FP Complete will release regular audit reports, which will specifically review various Haskell Libraries.

LTC/USD

LTC price is on the path of recovery and exhibits a stable trend. The first support level at traced at $61.690 broke out. The price again found support $61.168 and is showcasing an uptrend. The resistance level for today can be traced at $63.917. The prices are eyeing the $65 handle to resume a stable uptrend. MACD signifies ADA to be in a bearish zone and the 100 EMA line represents a downtrend. LTC  is currently trading at $63.499 and is gaining against USD by 2.18%.

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

See Also: IBM, Maersk unveil blockchain shipping platform; over 90 businesses participate

Litecoin updates

In a recent study by eToro, Mati Greenspan – a senior market analyst – stated that Litecoin [LTC] is not aiming to dethrone Bitcoin [BTC]. Rather, the coin plays a supportive role to Bitcoin, like silver does to gold.

ETH/USD

ETH prices are showcasing a gradual uptrend. ETH prices broke $360 and $375 support levels. ETH is currently trading at $363.64 and is rising against the USD by 2.26%. Prices can resume an uptrend if they can break out from the key resistance level noted at $365. The 100 EMA line trading at $382.069 currently exhibits a downtrend.

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

Ethereum Latest Updates

  • Ethereum Blockchain gets a new participator. Microsoft as built Ethereum-proof-of-Authority on Azure that will allow enterprises to promote security on their network
  • dYdX plans to launch its protocol for creating short Ethereum that will allow better investment opportunities. The short Ethereum token is inversely pegged to the ETH token. Therefore, when the prices of ETH decreases, The short Ethereum rises in value.

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