Latest Market News
The Litecoin price decline continues after falling by a further 7.7% in today’s trading session, allowing the price for Litecoin to drop towards the $120 level. Litecoin has now seen an 11% price decline over the past week and we have seen Litecoin drop from the previous resistance around the $145 level.
In an official statement from the recent G20 Summit in Osaka, G20 leaders expressed support for the recent cryptocurrency guidance issued by the Financial Action Task Force (FATF).
We are now moving into the second half of the year and entering Q3. This week’s choices are engaged in developing their platforms and performing project upgrades that should strengthen their market positions and also result in increased amounts of attention to their respective currencies over the coming weeks.
For the past three months, Cardano has been respecting an ascending wedge pattern as the market nears the angle of the trend line which brings the token to a trading price at $0.088 as of the time of writing. As of today, the token remains the tenth best performing cryptocurrency with a market cap of $2.3 billion.
Looking at the long-term perspective, we can see that OMG has been slowly moving upward since the bullish reversal at $1 in early February as trading remains in an ascending channel pattern.
Popular content sharing platform Imgur has received a $20 million investment from Coil, a startup founded by former Ripple CTO Stefan Thomas. He will be joining Imgur’s board of directors as part of the deal.
XRP bulls have shown a strong commitment over the past few weeks, driving the market up to a $0.5 high before the price level was rejected. As of now, XRP trading seems to be consolidating below the $0.48 level for the past four days, and the coin is currently stable at around $0.47.
As June comes to an end and we move into the second half of the year, this week’s choices are set to benefit from increased trading activity and speculation as the result of significant developments and potential project upgrades and announcements that should strengthen their market positions and bring more attention to the projects' tokens.
It has been a tough momentum for XRP market over the past weeks as the cryptocurrency struggles to break out of a trading range-bound which evolve between the $0.36 - $0.48 areas. In the past 24-hours, the price of XRP has surged near the $0.47 as the market currently trades around $0.455.
The price increase in the last 24 hours has pushed Ethereum above $280, which has been a tough level for the market for the past five weeks. Now, the question is if ETH can remain above this threshold. The answer to this question will surface if the daily candlestick manages to close above the mentioned price.
