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.
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 Russian arms producer, Soyuzmash, seeks to bypass US sanctions using cryptocurrency. The Union of Machine Builders recently requested permission from the Central Bank of Russia to allow it accept payments in Bitcoin for all its activities related to weapons. They believe this will enable them doge the US and other existing international sanctions. Russia is the world’s second main exporter of arms, commanding 21% of the global market, following the US with around 36%.
Dogecoin’s price has declined for two months already. A small rebound is not strong enough to change the downtrend. Moreover, while most cryptocurrencies fall, buyers pay attention to DOGE least of all.
Last week the cryptocurrency markets had no dramatic volatility or movements to please crypto traders. Investors were in no hurry to take risks and invest in bitcoin or altcoins. Temporarily, a slight equilibrium was established between buyers and sellers.
Prices for the most popular cryptocurrencies are now in growth again. Continuous price corrections against the US Dollar, which lasted for nearly a month, seem to comes to an end. In the coming days we expect altcoins to reach new support and resistance levels.