After the last bearish impulse on March 12, Ripple dropped to a low of $0.12 but moved up to resume consolidation. The breakdown was from the previous high of $0.20 to a low of $0.12. The bulls made an initial effort to make an upward move but were resisted at $0.17. With this resistance, the selling pressure will be at a lower price range.
The bears are unrelenting as they push Bitcoin to the bottom of the chart. In the last bearish impulse, Bitcoin dropped to a low of $4,607 and then moved up to resume consolidation above $4,500. The price movement has been relatively stable in the past five days as the price fluctuates between $4,500 and $5,500.
Enjin Coin, Holo Coin, Ontology and VeChain are in a sideways trend as the coins fail to break their respective overhead resistances. OmiseGo is in the overbought region as the market crashes to its low.
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.
Ripple has finally plunged to a low of $0.12 after breaching the $0.20 support level. The bears have earlier overwhelmed the bulls at $0.24 to reach the $0.20 support level. However, the bulls defended the $0.20 support for five days before the bears broke the support level.
For the past two days, Litecoin has been fluctuating between $50 and $48 before the downward move. Currently, the market has dropped to a low of $28 as of March 12. The price makes a sharp drop and breaks the $40 horizontal line to close below it.