Downtrend

Although the general trend of the cryptocurrency market seems to be bullish, some altcoins recorded a significant decline in the last 7 days. However, the downtrend might be short-lived.

The price of Ethereum (ETH) has been falling steadily over the past four days, hitting a low of $4,175. Today, there are signs that the largest altcoin will continue to fall.

Last week, Bitcoin (BTC) price fluctuated above the psychological price level of $60,000. Today, the cryptocurrency is trading at $60,626 and fluctuating between $60,000 and $63,000.

Since October 27, the price of Uniswap (UNI) has been forced to move sideways after buyers failed to keep it above $27.50. This constraint has resulted in the cryptocurrency trading in a narrow range between $23 and $26.

The price of Ripple (XRP) has been stuck below the $1.20 resistance level after the altcoin fell to a low of $1.06.

Today, Bitcoin (BTC) is consolidating above $58,000 support after being rejected at the $64,000 resistance zone. This resistance has caused the price to fall and break the $60,000 psychological price level.

Today, the price of Bitcoin Cash (BCH) broke below the moving averages as the altcoin hit the low of $533 and retreated. With the price breaking below the moving averages, the selling pressure is likely to continue downwards.

The price of Uniswap (UNI) has fallen above $25 support, or the 21-day moving average line, as buyers try to resume a new uptrend. Today, sellers are threatening to push the altcoin further down to the $22 low.

Ripple (XRP) has been fluctuating above the $1.07 support level for over a week now. It is also above the 50-day moving average line. Today, XRP is trading at $1.10 and continues its uptrend.