Cryptocurrency Brief: Altcoins continue downtrend tracking Bitcoin, Salt Lending Holdings faces U.S. SEC probe over $50 mln token sale – Friday, November 16

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Cryptocurrency Brief: Altcoins continue downtrend tracking Bitcoin, Salt Lending Holdings faces U.S. SEC probe over $50 mln token sale – Friday, November 16

BTC/USD: Bitcoin prices continued to downtrend for the third consecutive day, during late European session Friday, tracking pessimism from the United States Securities and Exchange Commission’s (SEC) annual enforcement report, where it penned down several regulatory actions against the ICOs and digital assets taken so far this year. At the time of writing, BTC/USD fell 1.55 percent to 5,647.50. Meanwhile, the near-term support is seen at $5,000.00 and resistance at $6,000.00.

Market Update: According to a report from CoinTelegraph, “Crypto loans company Salt Lending Holdings Inc., once associated with high-profile crypto industry stalwart Erik Voorhees, is facing a U.S. Securities and Exchange Commission (SEC) probe over its 2017 $50 million token sale.”

ETH/USD: In line with Bitcoin, Ethereum also remained lower, following concerns over SEC’s regulatory norms; the day’s high was seen at $185.17 and low at $176.00. At the time of writing, ETH/USD lost nearly 2 percent to 180.60. Meanwhile, the near-term support is seen at $170.00 and resistance at $190.00.

XRP/USD: Ripple, also remained in the red zone, after witnessing a sharp fall on Thursday, tracking similar movement in all its peers. At the time of writing, XRP/USD slumped nearly 2 percent to $0.48058. Meanwhile, the near-term support is seen at $0.4000 and resistance at $0.5200.

BCH/USD: Bitcoin Cash, too matched the shadows of its immediate peers; however, the trend is little range-bound for the day, having the high at 408.00 and low at 365.12. At the time of writing, BCH/USD plunged 2.25 percent to $385.02. Meanwhile, the near-term support is seen at $350.00 and resistance at $450.00.

EOS/USD: Nothing different, the EOS, also suffered as investors await to find direction in the digital currency market amid mixed news. At the time of writing, EOS/USD traded 2.48 percent lower at $4.6507. Meanwhile, the near-term support is seen at $4.30 and resistance at $4.80.

LTC/USD: Litecoin, also matched its counterparts, losing out proportionately by the similar amount. At the time of writing, LTC/USD suffered 2.56 percent to trade at $43.549. Meanwhile, the near-term support is seen at $40.00 and resistance at $51.00.

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