Demand

It is worthy to note that BCH had a remarkable run above $200 and that the bullish move is ongoing. Undoubtedly, it is probable for the coin to attain the $227 or $240 price levels. Hopefully, BCH has crossed into the former larger price range. There are no foreseeable barriers as the coin accomplishes the previous highs.

Ripple is moving up while trading in the $0.17 to $0.20 range. The bulls have consistently tested the $0.20 price level for the fifth time but are unable to break it. On each unsuccessful attempt, the market retraces and falls to the $0.18 support. One cogent reason for bulls’ inability to penetrate the $0.20 price level is because of a lack of demand at higher price levels.

Litecoin made a bold move as it traded into the range of between $42 and $50. In the previous week, the bulls impressively reached a high of $44 but were resisted. The coin retraced and found support at $42. Incidentally, the coin has come back to its original range to resume fluctuation. It is expected that the demand zone at $42 will hold, if it does, Litecoin will reach the high of $50 and break it.

The cryptocurrency market has reached bearish exhaustion as Dogecoin and NEO have already shown. NEO has breached the resistance line and fled to the lower high. Lack of demand at a higher price level frustrated the bullish move. The downward move on Monero and Stellar may have been overdone as the coins consolidate at the bottom. ChainLink is in a range bound movement

In the last 24 hours, buyers came back to stop the bearish run at $120. Interestingly, buyers are fully committed as the market moves and approach the $131. The bottom line is that buyers intend to move above the $140 where the coin had an initial breakdown. The coin's inability to go up has been held back because of a lack of demand at higher levels.

After a brief consolidation, Litecoin is still in a downward move. The bulls have intended to break the initial resistance at $42 and rally above $50. The upward move may not likely hold as the selling pressure is ongoing. The bottom line is that if the coin falls and breaks below the $39 support, LTC will retest the previous low at $36.

Interestingly, BCH is making another impressive move to get to the supply zones. Can it breach the $197 supply zone? After the coin dropped to $170 low, the bulls were repelled at the $197 supply zone. The coin drops to $184 low. Today the bulls are making a repeat attempt on the supply zones.

Undeniably, the downward move has become unavoidable as the coin continues to fall. The bulls have made two unsuccessful attempts at the $135 supply zone. After the first attempt, the ETH found support at $127.50 price level but the coin moved up for a second retest. The second retest was repelled as the coin fell to a low of $125.

A week ago, XRP was in a bearish run as Ripple reached the $0.17600 low. Proficiently, the bulls defended the $0.17 low as more buyers at a lower demand zone were encouraged. The eventual rise was interrupted at $0.20 supply zone. The bulls were not able to break through the $0.20 price level.