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.
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.
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.
The following coins namely: Bitcoin SV (BSV), Litecoin (LTC), EOS, Binance Coin (BNB), and Tezos (XTZ) are back in a bull market. The coins are making frantic effort to break the current resistance to be out of the downtrend zone. One common feature among the coins is that the coins are in strong bullish momentum.
The coins under review are all trading in a bear market except Cardano and EOS which have been in a sideways trend since September. Distinctively, one common feature of all of the cryptos is that the bulls are making frantic efforts to defend the various support levels. The selling pressure is so much that it reaches a point of breakdown.
The altcoin under review were making an impressive move in previous weeks. However, as most of the coins reach their major resistance levels, the various coins dropped in price valuation. Some of the coins are in a sideways move, pending the determination of the next price direction.