Three days ago, Ether (ETH), the second-largest cryptocurrency, broke the $400 resistance level due to an increased amount of bulls. The coin was on its way to test the $415 resistance when prices started fluctuating, and it began a gradual drop the next day. Since the crash that saw prices drop from more than $400 to $384, ETH continued to push back.
Traders started buying the cryptocurrency to propel the prices back up. The efforts by traders paid but not for long. Traders woke up this morning to see prices crashing from $390 to $377 at writing. The crash is a clear indication of the change in market sentiment: the bears are in control. The current chart pattern is forming a bull flag that signifies a near price breakout to the upside.
The current RSI is moving towards the oversold region, indicating that prices may drop further if traders don’t rally the market back up. At the time of writing, ETH is testing the $377 support level. The $377 support may give if the current market sentiments do not change. If traders get more bullish, the $382 resistance will break.
Yesterday, XRP broke the $0.247 resistance level, thanks to how traders participated in the market. So far, the coin also enjoyed its bullish moments that have now come to an end. At the time of writing, bears control the market as the current RSI indicates XRP is oversold.
As a result of the bearish, prices are down to $0.233 and ready to test the $0.230 resistance level. If traders rally the market up, prices may push back and break the $0.236 resistance level, but if it doesn’t, prices will drop further.
The ninth cryptocurrency by market cap, Litecoin, is back to bullish ways as the current RSI signifies that traders are rallying the market up. In recent hours, LTC was heading for the oversold region when traders rallied the market up. The sharp depreciation in RSI brought prices from $55.7 to $53.1.
At the time of writing, a litecoin is $53.27; if the current RSI continues to improve, traders may see prices break the $53.50 resistance level, and if more bulls are present, the $54 resistance may also flip.
DOT is the eighth largest cryptocurrency by market cap. It is on the rise and rising gradually. The $4.05 resistance level is on the verge of flipping if the bullish run continues. With the increase of RSI, traders can expect to see prices as high as $4.1 if all things remain constant.