Analytics

Bitcoin (BTC) makes a gradual decline to the previous low of $7,000. Now traders may expect Bitcoin to rebound if the market gets a low of $7,000.

Litecoin (LTC) is range-bound between the levels of $43 and $50. The market has been characterized by low price movement.

The XRP/USD pair is trading amid the levels of $0.20 and $0.23. It is assumed that consolidation may occur at a price of $0.22.

Ripple (XRP) is making an impressive move but may face resistance at $0.23.

The Persistent tussle between the bulls and bears over the support at $0.22 has given the bears an advantage over the bulls. Buyers could not sustain hold above the support because of the absence of buyers at the previous highs. Yesterday, XRP dropped suddenly to $0.21, but a pullback was not sufficient to keep the coin above the $ 0.22.

Since November 29, the bears are in control of price as the selling pressure persists. The price movement has been insignificant as the coin gradually depreciates daily. On December 2, Bitcoin dropped to a low of $7,302, while today the market is approaching the low of $7,100 as at the time of writing.

Bitcoin Cash continues its bearish run but may revisit the price at $192. It has maintained its fluctuation within the price range of $200 and $240. Nevertheless, the bears had at one time broken the support as the price reaches another low of $192. There was a spontaneous pullback as BCH moved up toward the earlier range.

Ripple's impressive run is over as buyers are overwhelmed after an initial uptrend. Thereafter, the price commenced dropping gradually from $0.02330 to $0.22138. Ripple depreciated as a result of the absence of buyers. However, Ripple fell and found support at $0.22 which may face further selling.

As bulls and bears struggle below the resistance at $50, the bears seem to have the upper hand. On November 29, the bulls were resisted at $50, and the coin drops to a low at $46. The bulls pulled back and retested the resistance at $48. Litecoin is now in a downward move and it is likely to reach the previous low at $43. A break below the previous low at $43 will depreciate Litecoin to drop at $36. Meanwhile, a defense by the bulls at the current support will make the coin resumes a sideways move and probably form a price range. From every indication, the coin may fall since it is under bears’ control.