Investing

Ripple began a downward move soon after XRP was overbought at $0.34. In the last two weeks, XRP has dropped to a low of $0.22. During its downward move, the $0.28 price level has been knotty. The first bearish impulse was at the low of $0.28 where the bulls and bears tussle for a price over a week. Eventually, the bears have the upper hand, as XRP drops to the low of $0.26.

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.

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.

On February 25, Litecoin attains the high of $80 but the bulls have made concerted efforts to push the price above the resistance. LTC fell to a low of $72 because of the bull’s inability to break above the current resistance. It is noteworthy to know that the current resistance has not been broken since August 2019. On February 13 and 14, the current resistance was partially broken by the bulls as the price reached a high of $84.

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.

After its impressive runs, Ethereum forms a range at the top of the chart. Ether fluctuates between $238 and $288 as indicated by the blue horizontal lines. The range that was formed included two tops.

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 its recent move, Ethereum reached a peak price of $286 on February 14. Ether has been retracing thereafter because it reached the overbought region of the market. The pair retraced to the low of $237 and rebounded. The second upward move reaches the previous high but the bulls could not push the price above it. ETH fell again and dropped to a low of $250.