Litecoin Recovers from Earlier Falls, Ripple Falls Slower than ETH and BTC

Images by PIX1861 and WorldSpectrum from Pixabay

The market saw some sell off for the day but the market cap has leveled off at $125.00 Billion. Bitcoin, the largest block chain currency, saw their market cap rise to $9 billion but it is on a bearish trend still. It failed to break the strong resistance at $3.90 level.

Ethereum gave back February gains as it dropped around a percent for the day to the vicinity of $127. Ethereum is mimicking the losses of bitcoin as both currencies weaken. Ripple also dropped but nit at the same magnitude as the 2 main coins.

Litecoin Settling Around Familiar $45

Litecoin rose intraday to $48.00 But fell back to familiar levels at the $45 mark as it ended trading day at $45.64 mark. Momentarily, it fell down to a low of $44.40 during the day before rebounding back to the $45.00 level.

If the Litecoin moves up to the upper levels of $46 region could signal a recovery from the reversals experienced during Monday’s trading. It will encounter a strong resistance level at $47.63 and expectations are that there is not enough momentum to push above the resistance.

On the other end, should Litecoin fall, we can possibly see a fall through below the $44.03 support and even test out the stronger level at the $43 level if a broad sell off comes from investors.

Ripple Continue to Drop but Keep Above $0.30 level

Ripple continues to drop with a fall of 2.66% following yesterday’s 1.16% losses. Ripple settled with a loss as it ended the day at $0.3091, reversing from a high of $0.31914. The highs did not threaten the next resistance level at $0.3224 mark. With the drop, it pierced through the resistance levels at $0.3134.

If the Ripple does not move towards $0.3110, it could see more losses. However, it is not expected to go below the 0.30 level without a mass sell off from the market.

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