Downtrend

Ethereum breaches key levels as the bulls reach a high of $196 and pull back. Ether has one more hurdle to jump over if the coin is to be out of the downtrend zone. The bulls have broken the resistance levels of $173 and $186. Recently, the market reached a high of $196 but the price retraced to the support above $188.

Unarguably, Bitcoin Cash is out of the downtrend zone as the bulls break key resistance levels. Especially, the bulls broke the $360 resistance which had earlier remained unbroken since August 2019. Earlier on, BCH was faced with price rejection at the $400 on January 18. The resultant breakdown lasted until the low of $300 was reached.

Cryptocurrencies are gradually entering a bull market as the downtrend ends. Bitcoin SV, DASH, Monero and NEO are making impressive moves but their prices dry up at higher price levels. Dogecoin is bearish as it continues its downward move.

Unfortunately, Litecoin reached its target price of $60 but could not hold on to a price above it. Litecoin has already fallen to $55 low. The current price level at $55 was a historical price level.

Litecoin makes impressive moves and attempts to move out of the oversold area. Unfortunately, LTC reaches its first target price of $60 but struggles to break it. LTC is in a sideways move while the bulls attempt to breach the high of $60.

Notwithstanding the brief upward move and subsequent fall, the bulls defended the low at $136. The price moves up to $143 after a successful defense of the support. Luckily, Ether is in the bullish trend zone. The upward movement will likely continue to the recent highs. Assuming, the bulls sustained the price above EMAs, then we should expect the market to reach a high of $157.

Surprisingly, Ripple has fallen to a low of $0.20; notwithstanding its earlier rally to $0.22. It is a fact that Ripple had been trading between $0.18 and $0.20 since December 17. The sharp upward move was presumed to be a positive move to take the coin out of the downtrend.

Bitcoin effectively breached the resistance levels, as the bulls' target $9,200. The bulls have made a consistent move as it breaks the resistance levels of $7,600 and $7,800. The market is now trading above $8,000 price level.

Litecoin has made a convincing bullish move and it is approaching the overhead resistance. Despite its previous disappointing moves, the coin has proven every wrong right. Meanwhile, the coin is facing initial resistance at $46. LTC upward move may continue if price finds support after a retracement.