Cryptocurrencies price prediction: Litecoin, Bitcoin Cash & Ethereum - European Wrap - 7 October
|Litecoin (LTC) price analysis: LTC/USD confined to a range amid directionless trading
Litecoin has been moving inside a horizontal channel since September 24. The sixth-largest digital asset with the current market value of $3.5 billion has lost over 2% in recent 24 hours to trade at $54.59 at the time of writing. From the short-term perspective, LTC/USD is moving with bullish bias amid shrinking volatility. An average daily trading volume stays well above $2 billion.
Bitcoin Cash price analysis: BCH/USD impressive triangle breakout targets $235
Bitcoin Cash is reacting positively on Monday following a mundane trading session over the weekend. The 2% gains on the day follow a remarkable breakout from a symmetrical triangle pattern that has been forming since Tues last week.
At the time of the press, Bitcoin Cash is trading at $227.40. The breakout has legs founded within the support offered by the simple moving averages. The 50 SMA on the hourly chart currently stands at $221.39 while the 100 SMA is currently at $221.82.
Ethereum market update: ETH/USD takes off from Asian low, still vulnerable to further losses
ETH/USD hit the recent high at $186.00 on October 1 and has been sliding ever since. During early Asian hours on Monday, the second-largest coin touched the ground below $170.00. While the coin managed to recover from the intraday low of $168.83 to trade at $172.50 at the time of writing, the bearish sentiments are still prevalent.
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