Price Analysis

Price Analysis: EOS, Ripple (XRP), Bitcoin Cash (BCH)

Cryptocurrencies are going through a rough patch since many days, as major coins are busy fighting the bears in the market. It is yesterday since Bitcoin is trading under $10,000. BTC has recently corrected up above $9,500 as it just had a dip near $9,499.

However, the market capitalization of the overall crypto market has manifested an increase over a day, as it was at $245,707,976,122 yesterday, and is heading up from $247,246,734,189 now.

EOS/USD

EOS Price Chart

EOS has seen a major declining shift in its price trend over the last couple of days, including two sharp falls. The coin opened on 28th August with its price at $3.56 and it remained above $3.5 till it saw a sharp decrease on the day. The decline took EOS price as down as $3.13 from where it has struck a rebound. The coin has corrected up from there by 4.37%. Since then, EOS coin is trading around $3.20.

The coin saw another price drop yesterday when it tumbled to $3.084 sharply. EOS moved up again to climb above $3.20 with an increase of 5.26%. Today, EOS price has recently managed to uplift from a dip near $3.16. At 05:26:28 UTC, the coin is trading at $3.199.

RSI is near 50, indicating a stable momentum, while MACD is in the bullish zone with its MACD line above the signal line. On the other hand, the SMA lines have just formed a bullish crossover. EOS may face resistance at $3.29, $3.36 and $3.43, and support levels at $3.15, $3.08 and $3.01.

XRP/USD

Ripple Price Chart

Ripple price has struck a sharp price rise over a day, but, after a steady pullback, it is back to square one. Yesterday, the price of Ripple opened at $0.2551 and it saw its first price plunge of the day near $0.2490 and then mildly surged to $0.2529. The coin again dropped to discover a lower dip near $0.2488. Seeing support there, XRP escalated to $0.2613 with an increase of 5.04%. After tracing a bearish trendline, Ripple has noted yesterday’s closing price at $0.2570.

Today, XRP has extended the pullback till it saw bottom at $2533, the coin is currently moving up from there at $0.2550 at 04:22:18 UTC.

MACD is heading to the bullish zone with its MACD line above the signal line. RSI for the coin is near 50 showing no extremities. However, the SMA lines are showing bearish signs. Ripple price may face resistance at $0.2620, $0.2670 and $0.2731, while its support levels can be at $0.2509, $0.244, and $0.2398.

BCH/USD

Bitcoin Cash Price Chart

Bitcoin Cash shows a constant decline in its price trend over a day. The coin has recently found support and is currently moving up from there. Bitcoin Cash was around $290 when it opened yesterday. The coin has steadily fallen while tracing a bearish trendline. BCH’s price drop has been broken near $271.52 from where it has started a rebound. At 04:58:14 UTC, BCH price is trading at $278.53.

MACD appears bullish as its MACD line is above the signal line. Also, the RSI indicator seems stable near 50. However, the long term SMA line is above the short term SMA line, giving a bearish sign.

Bitcoin Cash price may see resistance at $289.44, $298.13 and $289.44, and its support levels can be at $268.97, and $260.28.

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Ruti Vora

Ruti regularly contributes in-depth news articles for leading cryptocurrencies. She contributes technical chart-based price updates and analysis pieces on world's leading digital currencies. She holds graduate degree in journalism.

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