Following the bullish surge of the last two days, the cryptocurrency market went through a phase of bearish connection. Currently, it is hard to predict how long the correction will last, but it looks like the bulls have fought back and stalled any further downward momentum. As earlier reported by FX Street:
“While crypto enthusiasts believe that the worst is over and the market is on the verge of a new bull run, some experts warn that the rally any be temporary if institutional investors and consumers do not support it.”
Top-3 coins price overview:
- BTC/USD went down by $153 in 15 mins. The coin has also lost 9% of its value in 2 hours, going down from $5,334 to $4,890. However, the bulls remained strong and put the price back near the $5,000 range.
- ETH/USD went down from $165 to $158.50 this Wednesday. ETH/USD lost 11% of its value within 2 hours. However, the 15-min chart then charted a morning star pattern and bulls managed to reverse the momentum and take the price above $160.
- XRP/USD crashed from $0.34 to $0.37 within 2 hours. The bulls are valiantly fighting back and stalling any further downtrend.
Bitcoin Cash and Litecoin bulls pick up price despite crash
- BCH/USD crashed from $345 and went all the way down to $284 within 2 hours. However, the bulls have stalled the momentum and are re-testing resistance at $300 again. Currently, BCH/USD is $53 up ($243 to $296) over the last 24 hours.
- LTC/USD bulls failed at the $100 mark and the price crashed down to $82 from $98.50. The bulls are since trying to recover the price as LTC/USD is currently trading for $86.50. LTC/USD are still enjoying an 11.6% gain on a daily basis.
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