Downtrend

Surprisingly, after an impressive upward move to a high of $64, the bears struck and a breakdown occurred. From a high of $64, the downward move extended to a low of $48. At the low of $48, the bulls pulled back above $50.

Despite its impressive move to a high of $246, the bulls face selling pressure above the $246 price level. Recently, the bulls broke the $238 lower price range to reach the range-bound zone. Our bullish expectation was dashed as the bears overwhelmed the bulls at a recent high. Ether fell to a low of $200.

There seems to have been no major price movement in the last 48 hours. Another constraint is the absence of buyers in the oversold region of the market. Ripple has remained in the oversold region since February 26 without the appearance of  bulls. As a result, XRP has remained in consolidation between $0.23 and $0.24 without price change.

Bitcoin Cash is in an uptrend as the bulls attempt to breach the breakout level of $360. The bears have unceasingly defended the $360 resistance during the downtrend. Nonetheless, the downward correction is over as the bulls emerge from the oversold region of the market. During the downward correction, BCH fell to $300 low but move up to consolidates above $320.

Last week, Bitcoin Cash survived further selling below $300 because the market had earlier slumped into the oversold region. By default, buyers are expected to emerge in the oversold region to push BCH upward. Positively, if the price is above $360 and the momentum is sustained, BCH will be back to its uptrend.

The bears have successfully defended the resistance levels, including $9,800, as the market drops to an $8,600 low. Further downward move or an upward move has been put on hold as Bitcoin resumes consolidation. The bears have not been able to push below $8,400. In the same vein, the bulls have not been able to push above $8,800. In other words, Bitcoin fluctuates between $8,400 and $8,800.

Over the past two days, XRP fell to a $0.22 low and reached the oversold region of the market. In the long run, buyers are on hand to push XRP upward. Unfortunately, the uptrend is hampered as the bulls are repelled at $0.24 resistance. Buyers came back to retest the resistance but continue to push the price over it.

The bulls have held onto the support at $216 for the past four days as Ether continues a gradual upward move. It appears the downward move has ended as the bulls approach the lower price range to push the price above it. The bears have earlier broken below it during the downtrend. Buyers will be on the path of recovery if the market is above the lower price range.

Finally, LTC slumped to a $60 low after several attempts at the $80 resistance. The bears are undone as they threatened to push LTC downward. Earlier on LTC dropped to $58 low but pulled back to retest $64 resistance.