Downtrend

Today, Bitcoin Cash is hovering above a $300 low after the market has plunged into the oversold region. BCH is in a downtrend because the coin was earlier in an overbought region. In that region, sellers were generated as the coin was being pushed downward.

For the past two weeks, Ethereum was stuck between the levels of $238 and $286. Earlier on the bulls made three failed attempts to break the resistance at $286. Later, Ether was compelled to a sideways move between the levels of $238 and $286. 24 hours ago, the bears broke the support at $238 as the price fell to a low of $215.

Bitcoin Cash has been on a downward move since BCH reached the overbought region of the market. Today, the market has fallen to a low of $320 from the recent high of $497. Recently, BCH fell to the breakout level of $360 on February 20. The market paused and the bulls resumed an upward move but were repelled at the $400 resistance.

Today, Bitcoin descended to the support at $9,200 after several failed attempts at the $10,400 resistance. It was indicated in the earlier article that if the downtrend extends beneath $9,400, the selling pressure will continue. At present, BTC is reaching the low of $9,200 but may face minor resistance from the bulls.

Today, Bitcoin is currently facing price rejection at the $10,000 resistance. Bitcoin has a price breakdown that resulted in the $9,290 low on February 19. The bulls embarked on another move to revisit or retest the $10,400 overhead resistance. The upward move was short-lived as the bulls were repelled at the $10,000 minor resistance.

Ethereum has continued its consolidation without significant price movement over the last 48 hours. The slight uptrend has resulted in a major downward move to retest the lower price range. Incidentally, Ether is fluctuating between $238 and $288 and the levels have remained intact for some time.

Recently, Litecoin made an impressive move to reach a high of $80. LTC could not continue with the uptrend. The bulls failed to push the price over the resistance. As a result, the bulls were resisted as the price fell to $65 low. It should be noted that Litecoin traded and reached the overbought region of the market.

In the last 24 hours, Ripple has been fluctuating above the $0.27 support level. In the first bearish impulse, XRP fell and found support at the low of $0.27. Soon after that, the price rebounded and reached a high of $.30. The price retested $0.30 resistance twice before it fell to the same support at $0.27.

Recently, Bitcoin Cash reached its peak of $497 during an impressive run. On February 15, BCH made a sharp correction as it dropped to the low of $380. The pair was in the overbought region of the market. In the overbought region, buyers are not available to push Bitcoin Cash upward. Rather the presence of sellers in the overbought region cause BCH to fall.