Risk

There are doubts about the upside correction in cryptocurrencies, as altcoins are under selling pressure every time they rally. The upside moves are merely a "bull trap".

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.

The cryptocurrencies listed below are in a downward correction as the altcoins trade below their moving average lines.

LRC and XTZ have bullish momentum again as the altcoins break out above the moving average lines. The other altcoins like LEO, AMP and TRX are in a downward correction as they risk another decline.

Altcoin season is long over before it ever truly started. Unlike previous cryptocurrency bull markets, the crypto industry only saw a handful of mega performers.