Demand

The cryptocurrency market has reached bearish exhaustion as Dogecoin and NEO have already shown. NEO has breached the resistance line and fled to the lower high. Lack of demand at a higher price level frustrated the bullish move. The downward move on Monero and Stellar may have been overdone as the coins consolidate at the bottom. ChainLink is in a range bound movement

In the last 24 hours, buyers came back to stop the bearish run at $120. Interestingly, buyers are fully committed as the market moves and approach the $131. The bottom line is that buyers intend to move above the $140 where the coin had an initial breakdown. The coin's inability to go up has been held back because of a lack of demand at higher levels.

After a brief consolidation, Litecoin is still in a downward move. The bulls have intended to break the initial resistance at $42 and rally above $50. The upward move may not likely hold as the selling pressure is ongoing. The bottom line is that if the coin falls and breaks below the $39 support, LTC will retest the previous low at $36.

Interestingly, BCH is making another impressive move to get to the supply zones. Can it breach the $197 supply zone? After the coin dropped to $170 low, the bulls were repelled at the $197 supply zone. The coin drops to $184 low. Today the bulls are making a repeat attempt on the supply zones.

Undeniably, the downward move has become unavoidable as the coin continues to fall. The bulls have made two unsuccessful attempts at the $135 supply zone. After the first attempt, the ETH found support at $127.50 price level but the coin moved up for a second retest. The second retest was repelled as the coin fell to a low of $125.

A week ago, XRP was in a bearish run as Ripple reached the $0.17600 low. Proficiently, the bulls defended the $0.17 low as more buyers at a lower demand zone were encouraged. The eventual rise was interrupted at $0.20 supply zone. The bulls were not able to break through the $0.20 price level.

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.

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.

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.