10 Oct 2014
Bitcoin struggles around USD 360.00, Litecoin falls
FXStreet (Mumbai) - Bitcoin is trading lower today, breaking a 4-day rally as prices continue to struggle around USD 360.00 levels. BTC/USD failed to sustain above USD 360 despite hitting a high of 380.95.
The virtual currency has been under pressure, off-late due to manipulation by speculators and due to the possibility of it being brought under official regulation.
Meanwhile, Litecoin is trading 1.68% lower at USD 3.79. Prices failed to break above the resistance level of 4.00 yesterday, opening doors for a further sell-off.
Bitcoin Technical levels
Bitcoin has an immediate support level of 340 (low of 18th Aug, 2014), below which prices can drop to 320 levels. On the flip-side, prices can rise to 380.95 (yesterday’s high) if the immediate resistance of 360 is taken out.
The virtual currency has been under pressure, off-late due to manipulation by speculators and due to the possibility of it being brought under official regulation.
Meanwhile, Litecoin is trading 1.68% lower at USD 3.79. Prices failed to break above the resistance level of 4.00 yesterday, opening doors for a further sell-off.
Bitcoin Technical levels
Bitcoin has an immediate support level of 340 (low of 18th Aug, 2014), below which prices can drop to 320 levels. On the flip-side, prices can rise to 380.95 (yesterday’s high) if the immediate resistance of 360 is taken out.