As altcoins enter bullish trend zones, cryptocurrencies are making a comeback. However, once the market enters the overbought zone, it is unlikely that prices will continue to rise. If the overbought region rejects cryptocurrencies, selling pressure could return.
Cryptocurrencies are in a downtrend after being rejected at the superior resistance levels. Altcoins are in a move below the moving average lines. There is a risk of further decline when the price bars are below the moving averages.
On August 17, cryptocurrencies experienced a meltdown as altcoins fell back to previous lows. The worst-performing cryptocurrencies risk further declines if current support levels are breached. Cryptocurrencies will continue another round of downtrend.
The cryptocurrencies listed below are unlucky but seem to be the best performing cryptos of the week. EOS and CHZ are trading in the uptrend zone as the altcoins resume their uptrend. Meanwhile, TRX, BCH and PAXG have resumed their downward correction as cryptocurrencies risk another decline.
The cryptocurrencies listed below are in a downward correction as buyers fail to sustain bullish momentum above the moving average lines. The bottom line is that these worst performing cryptocurrencies risk a decline to their previous lows.
The altcoins listed below are in a downward correction as cryptocurrencies fluctuate below their moving average lines. In other words, they risk further decline while facing rejection at the 21-day line SMA.