Downtrend

Ethereum has continued its consolidation above $100 and $140 since March 12. The price consolidates with small body indecisive candlesticks like Doji and Spinning tops.

The cryptocurrencies are all in bear markets. The altcoins have reached the oversold regions. Consequently, the emergence of bulls contributed to the upward movement of the coins.

The sideways moves are ongoing, as Ripple continues to trade between $0.12 and $0.17. Unfortunately, neither the bulls nor the bears have broken the key levels.

Bitcoin Cash is making a steady upward move after the last bearish impulse. At the low of $140, the bulls have pushed the price back to the high of $240. However, the bulls are finding penetration difficult at the current resistance.

After the last bearish impulse on March 12, Ripple dropped to a low of $0.12 but moved up to resume consolidation. The breakdown was from the previous high of $0.20 to a low of $0.12. The bulls made an initial effort to make an upward move but were resisted at $0.17. With this resistance, the selling pressure will be at a lower price range.

Last week, the bears pushed Ethereum to the bottom of the chart. Ethereum nosedived to the low of $101 but pulled back above $120 to resume a sideways trend. The bulls could not push price above $140 resistance. Ether is also repelled each time price tested the resistance level. This also explains that ETH lacks buying power at a higher level.

The downtrend continued to a low of $101 on March 12. Later, Ether pulled back above $120 and resumed consolidation. As the market is oversold, buyers are likely to emerge. The uptrend is likely if the price is sustained above $120 support.

Surprisingly, after impressive moves to a high of $246 on March 7, Ether has dropped to a low of $147. The initial fall was to a low of $200. After three days of consolidation above $200, the bears took the initiative to continue the selling pressure. The market has reached a low of $147. There is a likelihood that the fall will extend to a low of $125.

Bitcoin Cash has a breakdown as it falls from a high of $350 to a low of $250 on March 7. The market has remained in consolidation since after the breakdown. All the positive moves to breach the breakout level of $360 were dashed. The downtrend has broken important support levels like $306 and $270.