Bitcoin has remained stable after it turned down on April 30, because of the bulls’ inability to sustain the uptrend above $9,200. The market retraced to $8,597 low and resumed fluctuation between $8,500 and $9,500.
Despite its sharp drop to $0.21, the bulls are aggressively defending the current support. Recently, Ripple’s bulls made another attempt at $0.23500 resistance, but the upward move was repelled at $0.22500.
In recent times, most cryptocurrencies are faring well as the cryptos trade in bull markets. The recent surge of Bitcoin has pushed the listed coins to rise. Dogecoin and Skycpoin are making impressive runs. The coins are likely to be out of the downtrend zone with a break above their respective resistance lines.