Bitcoin price & Altcoin analytics

Unsteadily, Ethereum bounced back above $120 but struggles at the $133 resistance. For the past one week, the bulls have failed to penetrate the first resistance at $133. The market fluctuations continue within the price range for the past week. Ethereum has remained subdued as it continued to head southward.

Expectantly, Bitcoin fell and rebounded above $6,500 on December 18. The $6,500 was the previous low of November 25. The market respected the historical price level and rebounded. Bitcoin would have been in a disadvantageous position if the previous low had been broken. The bears could have taken the price to a low of $5,500. The rebound or the upward movement is a positive move as it will clear any dent on sentiment.

The coins listed below are in bear markets. The Bitcoin SV, Tezos (XTZ) and Cosmos (ATOM) have exhausted their bearish run as the coins rebounded from their respective markets. The coins are making positive moves in the bullish trend zone. Nonetheless, the selling pressure has been overdone on DASH and Binance coin. The bearish pressure seems to be unending.

Regrettably, ETH sunk to a $120 low after the bulls failed to check the rampaging bears at $140. Initially, the coin had a breakdown at $160 support and XRP fell beneath $140. The retest at $160, confirms the resumption of a downtrend as XRP fell to $120 low.

In the last two weeks, the bears bravely overwhelmed the bulls as the price dropped from $0.23 to $0.17. Sellers have been consistent in the downward move. Firstly, the bulls were repelled at $0.23.and the coin retraced to $0.21500. A retest at $0.22 pushes the coin down to the low of $0.20. After fluctuation between $0.20 and $0.23, the downtrend resumed and the $0.20 low was breached.

Expectantly, the bears broke the price range between $42 and $50. Litecoin fell to the $36 low but instantly pulled back to retest the price at $42. LTC fell back to a sideways move. However, since the retest was repelled, LTC is likely to fall. The price action is expected to reach the $36 low.

The bears' overwhelming control above the bulls took the coin to a low of $170. Subsequently, the price corrected and retested the resistance at $190. The coin pulls back and makes a sideways move. The bulls have retested the resistance twice as it continues its sideways move.

The cryptocurrency market has experienced massive losses and the situation continues to threaten many investors. In fact, the losses have already wiped away year-long gains. Veteran traders including Jacob Canfield and Peter Brandt predicted Bitcoin price to be at $5,500 by July 2020.

Ethereum collapsed, as bears made a final downward push to the $120 support. The bears have been consistent in the downward move as ETH finds support at current level. The buyers had earlier curtailed sellers above $140 before the recent breakdown. Incidentally, as ETH reaches the currently low, it gets deeper into the $120 support level.