Breakdown

Over the weekend, on May 10, Ethereum suffered a breakdown from its recent high of $210. The market made a sharp drop to $180 low. After the breakdown, the crypto went into three days of consolidation above $180.

In its last attempt to break the $280 overhead resistance, BCH suffered a breakdown. The bears broke through the support levels to reach the $227 low.

The rejection at the $50 resistance complemented the breakdown of Litecoin. In its last bullish move, Litecoin rebounded twice to break the $47 resistance but was unable to breach the next resistance at $50.

For the past week, Ripple has been trading above $0.21. There was a major selloff last Saturday as the bears broke the next support at $0.020500 and slumped to $0.17501 low. The bulls managed to push price to $0.20 resistance.

Finally, the $200 support has been broken after a general breakdown of the cryptocurrency market. Ether was previously in a downward move when ETH was overbought at $227.

Today, the below-listed altcoins are experiencing a downward move after a breakdown.  Bitcoin fails to breach the psychological level of $10,000. Consequent upon that the king coin crashed to $8,000.  The market is making an upward correction. The altcoins listed below are equally affected by the downtrend.

Today, Ethereum is still consolidating above $200 after facing rejection at $225. Its second attempt to move up was repelled at $216. The coin is fluctuating with a gradual downward move.

Presently, Bitcoin Cash is consolidating above $220 after the breakdown of April 9. The pair's impressive runs in March and April resulted in the coin to attain a high of $280.

Yesterday, the bears showed their supremacy over bulls at the $7,000 overhead resistance. Bitcoin rebounded at $6,797 to reach a high of $7,200. Immediately, the bulls were resisted as price slumped to $6,600.