Bitcoin price & Altcoin analytics

Desperately, the bulls put up a fight and defended the $0.18 low and pushed the price upward. The $0.18 low is an oversold region of the market which invited the bulls to take control of price. Ripple plunged to this low as a result of the inability of buyers to defend the $0.22 price level. The upward correction is facing resistance at $0.20. This was the previous support which has turned to resistance.

Bitcoin plunges below $7,000, and stands the risk of further depreciation. The coin may have a free fall except when it falls and find support at the $6,500. As the coin fumbles southward, it may not face serious resistance as it approaches $6,500. Attention will be focused on the critical support of $6,500. Two things will happen at the critical support level.

Finally, the support at $200 has been breached as BCH makes a sharp drop to a low of $176. The support had been holding since September during which the coin was fluctuating between the levels of $200 and $240. In November the selling pressure becomes much as the coin concentrated its fluctuation between $192 and $227.

Suddenly, the low at $42 was beached after three weeks of defense by the bulls. Litecoin has been in a small range of $42 and $50 over a month ago. The bears have been longing at the edge of the support of $42 to break it. Now the low at $42 has been broken, the downtrend has resumed as expected.

Despairingly, Ripple drops again after failing to jump over $0.22. The Market has taken a new shape, as price broke the $0.20 support level. The bear movement is ongoing as the price reaches a low of $0.19. Without any doubt, the coin is likely to find support at a low of $0.18.From the look of things, the bears are still in control of price.

The coins under review are all trading in a bear market except Cardano and EOS which have been in a sideways trend since September. Distinctively, one common feature of all of the cryptos is that the bulls are making frantic efforts to defend the various support levels. The selling pressure is so much that it reaches a point of breakdown.

Buyers and sellers are unrelenting as the tussle for price possession continues unabated beneath the horizontal channel. Last week, the bearish trend was from a high of $152 to $140. The coin rebounded at $140 and moved up to $145.

Notwithstanding the price fluctuation, XRP has been trading consistently above the $0.22 price level. This is an added advantage for the bulls to bounce at this price level. This can be done by the introduction of more buyers at this price level.

Litecoin is still crawling as market forces seem to be at equilibrium. The bulls and bears have no overwhelming authority over each other. The coin is still trading in a tight range of $42 and $50.