Downtrend

Since May 14, Ripple’s bulls have failed to sustain the price above the $0.205 resistance. In the several attempts made at the resistance, buyers have found penetration difficult and have resorted to sideways movement below it.

Yesterday, Litecoin further depreciated to $42 after the bulls failed to push price above the $46 resistance. It has been on a downward move after the crypto achieved its peak price of $50.

Litecoin has not made any significant price movement. There seems to be a striking balance between the bulls and bears.

Bitcoin Bulls have consistently made attempts to retest the $10,000 resistance. This becomes possible because buyers hold prices above the major support at $9,200.

About 48 hours ago, buyers took the initiative to reach the $0.20500 resistance but were resisted. Before now, Ripple has been sunk to $0.17500 low after a breakdown on May 10.

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.

Bitcoin remains in the uptrend zone despite its recent fall. In the last 48 hours, it dropped again to $8,200 low and moved up.

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.