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The scrambled market continues to bleed, although there is some light at the end of the tunnel. Today it is red and green mixed with Bitcoin which corrects the 1.87% lower of the day while trading at $ 3,826. NEO is the biggest loser of the day among the top 20 digital resources, it is recording a 5.31%. Dash was not spared from the selling pressure that yielded to the decline with daily losses of 4.46% at the time of writing. The rest of the market is mixed red and green, but most of the cryptography is in red. Experts and industry analysts believe that the collapse will soon hit the plan and the recovery will begin in the first quarter of 2019.
XRP (XRP)
XRP, the token issued by the San Francisco blockchain company Ripple continues to struggle with the pressure of the bear that fails to exit the short-term downtrend channel. The business is down 1.25% the day after the opening of trading at $ 0.3515. You are exchanging hands at $ 0.35.
Towards the end of November, XRP corrected higher after the decline reached the balance at $ 0.34. The rebound rose above $ 0.4, however, the trend has run out of steam resulting in a retracement that tested the Fib level of 23.6% taken between the highs of $ 0.4089 and the lows of $ 0.3375. There was a slight recovery from this level, but the XRP price became bearish at the beginning of December. In fact, the new declines resumed on Monday this week, when the XRP / USD explored the lows of the current month (low swing).
The activity has been deflated within a downward channel in the last week. The upside is limited by the upper trend line while the lower trend line works as a support. Both the 100 SMA and the 200 SMA will limit the gains to the seller's concentration zone to $ 0.4. Currently, it appears that XRP has found intraday support at $ 0.4 and the stochastic shows that the trend will probably continue in the lateral direction.
Cardano (ADA)
We can see that the bulls are out of hibernation at the time of writing with Cardano who interrupted the resistance of the short-term trend line in the 15-minute interval. CoinMarketCap shows that the asset is down 4.39% in the last 24 hours. The lock-step trading yesterday ended in a slide below the $ 0.037 support. The ADA / USD reached a minimum of $ 0.0364 before the start of the current bullish correction.
Cardano is currently trading at $ 0.037. The trend is bullish with eyes locked at $ 0.038, which will open the door for gains towards $ 0.04. The stochastic is moving upward to confirm that the bulls will keep control in the short term. However, the price is still trading below the moving averages. To get out of the bear's reach, Cardano must recover position above $ 0.04.
Ethereum (ETH)
The third largest crypt by market capitalization seems to have found a fund. The resource has undergone a lower correction since January. From the historical highs traded at the end of last year, Ethereum has lost more than 90% of its value. After the fall of last month, ETH / USD resumed the trend from the main support to $ 100. The recovery, however, lost a short momentum of $ 130 postponing the resource to the drawing board.
Currently, Ethereum trades at $ 108 and uses the Fib level of 23.6% with the last swing maximum of $ 114.28 and the swing minimum of $ 107.49. The 100 SMA is surpassing the 200 longer term SMA while the bulls regain control. Technical indicators such as the Stochastic are overbought, meaning that the price of Ethereum could start cutting intra-day earnings. Initial support at $ 105 will continue to remain firm but ETH has more support at $ 100.
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