- Litecoin Cash presents itself as a faster, cheaper cryptocurrency, easier to be mined with a more simple technology than its competitors
- Ripple stabilizes while awaiting new money inflows. $0.81 mark is the level to break to recover bullish strength
Litecoin Cash (LCC) has been introduced to the market after forking from Litecoin. This hard fork apparently offers some advantages that might be very attractive for the markets. Most of all, a certification speed of just 2.5 minutes instead of the usual 10 minutes. Moreover, LCC can be mined with technology that it no longer works for Bitcoins, cheaper and with less energy consumption. Litecoin holders will receive 10 LCC for each LTC they have.
XRP/USD awaiting a triggering event
Ripple is not capitalizing on the latest commercial agreements to loan its money transfer platform technology and it is currently trading lazy. Once the bearish trendline coming from all-time highs was broken, XRP/USD has entered a lateral movement, waiting for buyers or sellers to take control of the price action. Main support is located at the lower end of the current range, at $0.694, and if that is broken it would leave $0.569 as the last barrier before new falls. Above, the first target should be breaking above $0.81, which would open the doors for the bulls up to $0.85 before reaching the $1 level as the short-term target.
XRP/USD 4h chart
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MACD is moving in parallel to the 0 line without breaking it at any moment. This kind of outlook is not positive for the bulls, as they lack space to try to go onto positive territory with enough strength to make a successful move.
Directional Movement Index is trading close to equilibrium levels, with a slight advantage for the sellers. This kind of technical setup usually gets solved because of external forces which might shake the price action and bring the trend back.
Bitcoin Gold keeps going up, rises 32% in less than 24 hours
Bitcoin Gold is 6% up today at the time of this writing, after spiking 25% up yesterday. The first resistance for BTG is located at $134.30, but the price has room to grow up to $143.50, an important bearish trendline. The level to watch on the downside is at $100. If that is breached, it would open the doors to more falls.
It seems that the time of altcoins created after hard forks has arrived. Bitcoin Cash yesterday and Ethereum Classic today, just as Bitcoin Gold, are being the main Cryptocurrencies on the bullish side.
BTG/USD 4h chart
BTG MACD is at the same point as Ripple, although with a very different technical outlook. Its inclination and angles are much better to attack the 0 line, with more probabilities of breaking above it successfully.
Directional Movement Index is also clearly better positioned, with buyers taking control and sellers retracing.
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