Downtrend

After two days of struggle on May 8, the bulls were unsuccessful in breaking the $10,000 resistance. It was a hurdle too high to jump over.

Today, the below-listed altcoins are experiencing a downward move after a breakdown.  Bitcoin fails to breach the psychological level of $10,000. Consequent upon that the king coin crashed to $8,000.  The market is making an upward correction. The altcoins listed below are equally affected by the downtrend.

Ethereum has continued its running battle to defend the $200 support level. In the last downtrend, the bears sank Ether to a $197 low.

In recent times, most cryptocurrencies are faring well as the cryptos trade in bull markets. The recent surge of Bitcoin has pushed the listed coins to rise. Dogecoin and Skycpoin are making impressive runs. The coins are likely to be out of the downtrend zone with a break above their respective resistance lines.

The Bitcoin halving draws nearer as it is expected to take place in just under two weeks, and the expectations for price increases among several cryptocurrency investors are extremely high, though the uncertainty of the current market might push it into a negative sentiment.

Cryptocurrencies are recovering from the bear markets. Monero, Zcash, and Chainlink are almost out of the downtrend zone as the cryptos make positive moves. Bitcoin SV and Stellar are currently in a sideways trend as the coins battle to come out of the downtrend zone.

Recently, Ethereum has been having an impressive run. Possibly a break above $200 will certainly take the altcoin out of the downtrend zone.

Today, BCH is consolidating above $216 after a fall from the $250 resistance. The bulls have been facing resistance at $250 after the downtrend of April 9.

Buyers have successfully broken the knotty $175 resistance to reach a high of $190. However, this recent high fell short of the earlier suggested price of $200.