Downtrend

Since December 1, Bitcoin Cash has been consolidating between $280 and $300 after the bulls failed to break the $320 resistance level. The bulls have earlier been repelled at the $360 overhead resistance.

For about two weeks, Bitcoin bulls have been struggling to break the $19,740 to $20,000 resistance zone. After four failed attempts, the BTC price was finally repelled.

After the November 26 breakdown, Ripple corrected upward and resumed a sideways move below the overhead resistance. The bulls could not retest the $0.75 overhead resistance as the coin was repelled at $0.65.

On December 1 uptrend, Litecoin retested the resistance at $90 and was repelled. The coin plunged to $80 low and immediately corrected upward.

Following the recent breakdown on November 26, buyers have been attempting to push BTC to the previous high above $19,400. Bitcoin has earlier plunged to $16,400 for failing to breach the $19,400 resistance.

The biggest altcoin has been in a downward move soon after its rejection at the $620 resistance. Ether fell and found support above the $480 price level.

Ripple has fallen and found support above $0.52. On November 24, XRP declined because of the presence of a long candlestick wick which suggested a downward movement of the coin.

Following the recent price surge above $360 resistance on November 24, the Bitcoin Cash (BCH) uptrend has been terminated.

On November 24, Litecoin rallied to $94 high but could not continue the uptrend. LTC retraced to the $86 low and resumed consolidation between $84 and $90.