The altcoins are trading in their respective bull markets. Nonetheless, as the coins reached the overbought regions, there was a change in the trend. The cryptos resumed trading in a sideways trend. A rebound or breakout is possible at the overbought regions which will propel the coins to resume the uptrend.
The cryptocurrencies are still grappling with the bear markets. The altcoins have all exhausted selling pressure but the bulls lack buying power to come out of the downtrend. The coins are in a downward correction.
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In the week under review, DASH, Dogecoin, Cardano, and TRON were previously making positive moves. In recent times, all the coins have dropped in value as the coins hit the overbought region. Stellar also is in a downward movement as it reaches the overbought condition.
The cryptocurrencies under review are in the bullish trend zone. In other words, Binance Coin, Cardano, TRON and MIOTA are trading above the EMAs which mean the coins intend to rise, retest or break the resistance levels. HOT has been in a sideways trend and the coin is facing further selling pressure.