On March 14, the cryptocurrency market started off with some stocks rebounding, but the decline in the afternoon strengthened. At press time, seven of the top ten stocks fell, and 70 of the top 100 were lit red, indicating a stronger drop. Among the top 10, it’s only Bitcoin SV, EOS and Binance Coin that are still resisting the forces of falling.
By March 9, 2020, Chainlink, Binance Coin and Monero had fallen to their respective lows as the markets held or faced further selling pressure. Conversely, Stellar and Maker have continued their sideways moves.
The following coins namely: Bitcoin SV (BSV), Litecoin (LTC), EOS, Binance Coin (BNB), and Tezos (XTZ) are back in a bull market. The coins are making frantic effort to break the current resistance to be out of the downtrend zone. One common feature among the coins is that the coins are in strong bullish momentum.
The cryptocurrencies under review are in the bullish trend zone. In other words, Binance Coin, Cardano, TRON and MIOTA are trading above the EMAs which mean the coins intend to rise, retest or break the resistance levels. HOT has been in a sideways trend and the coin is facing further selling pressure.
The coins listed below are in bear markets. The Bitcoin SV, Tezos (XTZ) and Cosmos (ATOM) have exhausted their bearish run as the coins rebounded from their respective markets. The coins are making positive moves in the bullish trend zone. Nonetheless, the selling pressure has been overdone on DASH and Binance coin. The bearish pressure seems to be unending.
Binance Coin, EOS, Monero, and TRON are all trading in the bull market. The coins made an impressive positive move as the bearish trend lines were all broken by the respective coins, paving the way for a change in trend.
Last month (March, 2019) brought some hope and confidence to the crypto community after a protracted bear market, with some digital currencies including Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Binance Coin (BNB) and others, recording notable performances. All the top 10 cryptocurrencies by market capitalization (MC) are in green, also allowing for exclusion of the stablecoin.