Crypto Currency Brief: Bitcoin in red zone again; Coinbase launches new plugin system for payments; Bitcoin Superstore adds XRP to list of cryptocurrencies - Monday, August 6th, 2018

BTC/USD: After recovering slightly over the weekend, Bitcoin prices again entered the red category and falling below the $7,000 mark. The price action is completely in contrast to news that San Francisco-based crypto giant Coinbase has launched a new plugin that will now allow merchants to accept payments from both Bitcoin as well as Litecoin directly through Coinbase Commerce. At the time of writing, BTC/USD traded 0.58 percent down at $6,984.90. Meanwhile, the near-term support is seen at $6,808.73 and resistance at $7,274.40.

ETH/USD: Following Bitcoin’s trend, Ethereum prices also disappointed during European session Monday. Amongst news of Coinbase’s launch of new plugin system, NewsBTC has reported that South Korea’s two largest crypto exchanges -- UPbit and Gopax are backed by the country’s biggest bank and internet company Shinhan Bank and Kakao, which might to some extent, help restoring faith among crypto investors. At the time of writing, ETH/USD traded 0.45 percent down at $406.83, hitting day’s low of 406.06. Meanwhile, the near-term support is seen at $401.06 and resistance at $420.00.

XRP/USD: The ripple community remained in distress despite news that XRP has now been added to the list of cryptocurrencies by Bitcoin Superstore, allowing customers to purchase from over 200k online retailers via XRP and 5 other cryptocurrencies, Coingape reported. At the time of writing, XRP/USD traded 1.52 percent down at $0.42800. Meanwhile, the near-term support is seen at $0.4207 and resistance at $0.4450.

BCH/USD: For reasons unknown, Bitcoin Cash also remained in the dark, following the footprints of its wider peers in terms of price action. At the time of writing, BCH/USD traded 1.76 percent down at $696.90. Meanwhile, the near-term support is seen at $677.23 and resistance at $726.43.

EOS/USD: EOS had started recovering during end of last week but failed to hold on to its momentum and started down-trending again at the start of trading week Monday. This is the after-effects of recent media reports that a spam attack has caused tremendous rise in transaction volume amid others hints of pessimism that continues to dig a hole in the daily performance of major cryptocurrencies. At the time of writing, EOS/USD fell nearly 1 percent to $6.9675. Meanwhile, the near-term support is seen at $6.8179 and resistance at $7.2347.