Downtrend

Ripple is faced with a setback as the bears erase all the bullish gains. The bulls had earlier moved up to a high of $0.34 after rebounding from the low of $0.28. Similarly, the bulls could have risen above $0.40, if they were successful above the resistance of $0.34.

For the past two days, Ethereum’s upward move has been put on hold as ETH resumed retracement from the $290 resistance level. The pair has been overbought in the last two days as buyers were unavailable to push Ether upward. Sellers at the overbought region have pushed Ether to the low of $251.

In the week under review, DASH, Dogecoin, Cardano, and TRON were previously making positive moves. In recent times, all the coins have dropped in value as the coins hit the overbought region. Stellar also is in a downward movement as it reaches the overbought condition.

Ripple’s final push to a new uptrend is here as the bull battles the resistance at $0.34.Earlier on the bull has overcome the resistance levels of $0.28 and $0.31 to reach the next one at $0.34. For the first time in six months, XRP has successfully penetrated the $0.31 resistance. Nonetheless, in the last 24 hours, the market has reached a high of $0.34.

Recently, Ethereum made a sharp rally after breaking above the $235 resistance. The rally happens while ETH is in the overbought region. In the last 48 hours, ETH has risen from $270 to $290 and the coin is still overbought. In the interim, Ether is retracing after being resisted at the $290 price level.

For the past four days, Ethereum has been hovering between $220 and $230.Expectantly, the much-awaited breakout occurred as the price pulled through the $230 resistance and reached a high of $270. Ether is out of the downtrend zone as it breaks above $235 price level.

Ethereum is making another move as it breaks over the $223 to attain a high of $230. The present uptrend has been neutralized as Ether was resisted. The uptrend could not be maintained by the bulls. ETH retraced back to the price at $223. Regrettably, if the bears succeed in breaking beneath $223, Ether will go down to the support at $197.

The following coins namely: Bitcoin SV (BSV), Litecoin (LTC), EOS, Binance Coin (BNB), and Tezos (XTZ) are back in a bull market. The coins are making frantic effort to break the current resistance to be out of the downtrend zone. One common feature among the coins is that the coins are in strong bullish momentum.

In the previous week, Litecoin rebounded at the $66 low which catapulted LTC to a high of $73. Presently, LTC is threatened by the bears at the $73 resistance. The resistance has caused LTC to a sideways move above $72.