Downtrend

Ethereum is falling and the current downtrend will extend to the low of $1,560 if the selling pressure persists. The recent downward move is caused by the bull’s inability to sustain the bullish momentum above the $1,800 support.

On March 1 Ethereum had risen above $1,500 at the time of writing. The market is likely to rise if the current bullish momentum is sustained but face resistance at the $1,700 high.

Bitcoin (BTC) price has commenced the resumption of upward move above the $44,000 support.

Yesterday, Bitcoin rebounded above the $45,000 support and rallied above the $50,000 high. Buyers are still struggling to push the price to the previous highs. In the previous price action, the bulls fail to break the resistance at $58,000.

Ethereum (Ether, ETH) declines after buyers fail to convincingly break the $2,000 overhead resistance. The bulls broke the overhead resistance twice but could not sustain the bullish momentum.

Over the past 48 hours, Bitcoin’s price has been fluctuating between $55,000 and $58,000. Buyers could not reach the $60,000 psychological price level as the uptrend was interrupted at the recent high.

Dogecoin has been in a downward move after attaining a peak price of $0.0888. After rejection from the recent high, the coin fell to $0.0505 low as price corrected upward. The price correction was terminated at a high of $0.0649.

Today, XRP is in a downward move after the uptrend was repelled at the $0.50 resistance. However, after fluctuating above the $0.45 support, the price retested the $0.47 high and resumed the downtrend.

Since January 28, the altcoin has been in an upward move. EOS reached a high of $3.37 but failed to continue the uptrend. Today, the market is falling and it is likely to find support above the lower price range.