Altcoins Price Analysis: Bears Counter Attack
Since the previous analysis, the crytpocurrency market cap has decreased by about 10% (from $ 307 billion to $ 266 billion). Despite this, the share of bitcoin in the total market capitalization slightly increased (from 44.8% to 45.3%).
Ethereum continued downward movement, breaking through the psychological level of $ 400. The next possible target could be the $ 275.35 - $ 222.94 area.
The uptrend development may be if the price will fix above the resistance marked by the red line, confirmation to which there will be an overcoming $471.94.
XRP/USD price chart shows the bearish trend. The price is in the downward channel and there are no reasons for the trend reversal.
The price has broken the resistance around $ 0.57. The next obstacle for the price is the $ 0.29. Assuming a reversal of the trend will be possible, if the price chart comes out of the bear channel, illustrated on the chart XRP/USD.
The price is testing the resistance in the area of $ 679.64 - $ 580.35. When fixing below this level the downtrend will proceed.
The psychological level of $ 500 is important too. To reverse the trend, the price will need to fix above the resistance level of $ 857.41.
The price broke the support around$ 113.62 - $ 104.44, after which it faced a rather strong resistance:
According to chart the price of Litecoin has not been able to get out of this downtrend for a long time. The continuation of the downward movement will be indicated by the consolidation below the support level of $ 113.62 - $ 104.44, as well as overcoming the important psychological level of $ 100.
Trigger to strengthen the uptrend for the coin will be consolidation above the red line (Figure 5) and above the horizontal resistance level $ 7.00-7.40.
In general, despite the recent impulse rising price surge, the downward movement of EOS continues. Based on this, we can expect the continuation of the price movement to the level of $ 4.54. In case of consolidation below this level, we can talk about the continuation of the downtrend, the target for which will be the range of $ 3.65 - $ 2.85.