Ripple’s XRP, Bitcoin Cash [BCH], EOS back in green: Technical Analysis and Latest Updates 20741
Analysis
Jessica Kuruthukulangara
Aug 10, 2018 at 2:24 AM

The cryptocurrency market was in recovery mode on Thursday, with most digital coins picking themselves up after a bearish storm on Wednesday. Ripple's XRP, Bitcoin Cash [BCH] and EOS [EOS] are trading in the green, after each coin lost more than 15 percent in value in the last week alone.

XRP/USD

Ripple’s XRP is showing signs of recovery, though it may take some time before the coin can achieve an uptrend. The virtual currency found support at $0.34 and climbed higher. The current resistance level can be traced at $0.35, which the digital asset is currently trying to break out from.

The 100 EMA line shows that the coin is in a firm downtrend. The MACD, at the time of writing, indicated that XRP was in the bearish zone. If the coin continues to rise, then it will find itself back in bullish territory. XRP is in a significant trading range of $0.33-$0.36. As of 2000 GMT, the crypto had edged up 3.1 percent against the U.S. dollar to trade at $0.35.

Ripple’s XRP, Bitcoin Cash [BCH], EOS back in green: Technical Analysis and Latest Updates-BCFocus

XRP Latest Updates

Bittrex, a crypto exchange based in the U.S., will soon offer U.S. dollar (USD) trading for Ripple’s XRP, along with Ethereum Classic [ETC]. The exchange plans to launch the new USD trading pairs on August 20.

BCH/USD

Bitcoin Cash [BCH] is recovering as well, in line with most major digital assets. The virtual currency has found support at $585.6 and is attempting to maintain the bullish momentum. The coin has failed to break out from the current resistance level, which can be found at $615.2. For now, BCH is in a brief consolidation phase.

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

The 100 EMA line shows that BCH is in a downtrend. The MACD indicates that the coin is trading in the bearish zone, but if the upward momentum is sustained, the crypto could edge itself back into bullish territory. BCH is exhibiting a significant trading range of $577-$620. As of 2018 GMT, the coin rose 2.3 percent against the U.S. dollar to trade at $605.17.

Ripple’s XRP, Bitcoin Cash [BCH], EOS back in green: Technical Analysis and Latest Updates-BCFocus

BCH Latest Updates

  • U.S. satellite TV provider DISH announced on Thursday that it would now accept Bitcoin Cash [BCH] as payment from its subscribers. DISH was the first subscription model pay-TV provider to accept Bitcoin as payment, starting in 2014. 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.
  • Craig Wright, a well-known Bitcoin Cash evangelist, described the coin as “the next global electronic plumbing system.” He also believes that adoption of the crypto will pick up once issues such as scale limits and protocol locking are solved. He further added, “Everything else is in place. All or nothing. 36GB blocks are possible and can be gone. Two years and counting. We get this, and it is a built and done.”

EOS/USD

EOS [EOS] is also trading in the green, rising slowly but steadily. The crypto found support at $5.50, and seems to be on the rise. EOS experienced a breakout from the first resistance level, traced at $5.84, and is attempting to scale higher. The coin seems to be in a consolidation phase, and sharp upward momentum is unlikely at current levels.

See also: Litecoin [LTC] and Stellar Lumens [XLM] breach major support levels, Tether [USDT] unscathed by crypto market crash: Technical analyses and Latest Updates

The MACD shows that EOS is trading in the bearish territory. The 100 EMA line indicates that the coin is experiencing a downtrend. The digital currency is exhibiting a significant trading range of $5.41-$5.92. As of 2036 GMT, the crypto had gained nearly 4 percent against the U.S. dollar to trade at $5.88.

Ripple’s XRP, Bitcoin Cash [BCH], EOS back in green: Technical Analysis and Latest Updates-BCFocus

EOS Latest Updates

EOS has topped the list of most number of bug bounty programs, according to a HardFork report. EOS has spent around $417,000 on rewards for bug bounty programs. EOS has increased its reward from $300 to $2,100 in 2018. Bug bounty programs invite hackers to find vulnerabilities on the blockchain for which they will receive a reward.

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