The cryptocurrencies are in bear markets. The altcoins have all exhausted selling pressure and are in downward corrections. The bulls are making concerted efforts to push the price to the uptrend zone.
Virtually, all the coins are under selling pressure as they trade in the oversold region. Buyers are expected to emerge to push crypto currencies upward. The coins may remain in the oversold region if buyers fail to emerge.
In the week under review, DASH, Dogecoin, Cardano, and TRON were previously making positive moves. In recent times, all the coins have dropped in value as the coins hit the overbought region. Stellar also is in a downward movement as it reaches the overbought condition.
Cryptocurrencies are gradually entering a bull market as the downtrend ends. Bitcoin SV, DASH, Monero and NEO are making impressive moves but their prices dry up at higher price levels. Dogecoin is bearish as it continues its downward move.
Undoubtedly, the coins under review were in consolidation in December but are making a surprising bullish move. DASH, Dogecoin, Monero, and Cosmos broke over EMAs which is a positive sign that the coins are going to rise. Meanwhile, Stellar is consolidating above $0.045low and it has failed to rebound.
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.