While the crypto bulls had something to cheer up over the weekend after a rally attempt in the majors, the move once again failed to improve the technical set-up in the segment, and the best coins quickly their earnings. Now, most of the coins are traded near the bottom of their short-term ranges and the techniques continue to point to the continuation of the bear market.
The correlations are still very high, there is no sign of developing bullish leadership, and with none of the key currencies showing bullish momentum, the bulls are facing strong adverse winds. While trade volumes and volatility remain relatively low thanks to the range trading environment, a move below primary support may soon lead to major moves in the majors.
The long-term negative trends are not yet in danger and, although there is still a slight chance of a failed breakdown model in the market, the odds also favor a short-term downtrend. With this in mind, traders and investors should not yet enter positions here, with our trend model being selling signals on both times in the case of most coins.
BTC / USD, 4 hour chart analysis
Although Bitcoin is still relatively stable compared to its major peers, it returned all weekend earnings and fell below the $ 3600 support / resistance level. Now, BTC is threatening with a break below the previous one. low, and given the recent weakness, our trned model is now in a short-term selling signal.
While bulls can still be saved with a move above $ 3850, failed rally attempts warn against the sale of pressure, and a bearish continuation is more likely here. Further strong resistance is in the lead between $ 4000 and $ 4050, with support zones still found near $ 3250 and $ 3000, and traders should not yet enter positions.
ETH / USD, analysis of the 4-hour chart
Ethereum lost its relative weakness during this weekend's rally attempt, and is now very close to a break below the minimum of key swing, which would likely lead to a shift to the key support zone between $ 95 and $ 100. The currency remains in the single market to sell both time frames and with a bearish market test near the $ 80 level it seems likely in the coming weeks.
Strong resistance is ahead just above the current price level and close to $ 130, with additional areas at $ 145, $ 160 and around $ 180 while weak short-term support is close to $ 112, and weakness in currency is a negative sign for the entire segment.
Altcoin still weak despite attempting to meet
STR / USD, analysis of the 4-hour chart
Although none of the major masses broke the main levels of short-term support, the general picture remains bearish and we have not seen signs of resilience indicating a short-term minimum and the resumption of the countertrend move.
Stellar, which has been among the bearish leaders towards the end of 2018, is once again showing relative weakness as it follows trends in the broader market, if the currency violates the $ 0.10 level, a quick to new lows of the Bear market would be likely, with the $ 0.09 level being the only solitary defense for the bulls.
XRP / USDT, 4 hour chart analysis
Ripple still looks very fragile from a technical point of view, and a move below $ 0.30 seems inevitable in the coming weeks, with a probable bearish market test near $ 0.28. The $ 32 support / resistance level remains in focus, but given the weak rally attempts and the long-term bearish asset, we do not expect the currency to return to the $ 0.3550 level in the next period.
Our trend model is still characterized by both-time selling signals, with further strong support found near the $ 0.26 level, with resistance close to $ 0.3750, and in the long-term key area between $ 0.42 and $ 0.46.
LTC / USD, 4 hour chart analysis
Litecoin is back near the key support zone $ 30- $ 30.50 after the volatile weekend, and looks ready to fall below that area, even if the short-term trading range is still intact. The strong downtrend in the long term is intact despite the recent countertrend move, and traders and investors should not enter positions here, with the short-term configuration also bearish. Strong endurance is ahead near $ 34.50, $ 38 and $ 44 with additional support found near $ 26 and $ 23.
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Disclaimer: the analyst possesses cryptocurrency. It holds investment positions in currencies, but does not carry out short-term or day-trading transactions, nor holds short positions on any of the currencies.