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The value of cryptocurrencies continued to worsen following the sudden declines that took place in November 2018. Most of the digital resources led by the largest, Bitcoin has explored the annual lows over the last three weeks. The market seemed to have found a fund towards the end of November, however, we have witnessed new declines that have broken critical support areas, especially for the largest coins on the market. The total market capitalization currently stands at $ 125 billion, down from the $ 205 billion recorded on November 1, as noted on Blockmodo. The volume of trade in the last 24 hours is in balance at $ 13 billion, compared to $ 10 billion compared to November.
Stellar (XLM)
Stellar has found a new home after moving Bitcoin Cash (BCH) since 4th position in the market. The currency has performed relatively well despite the downward trend in the market over the last two months. Initially it has exceeded EOS in terms of market capitalization becoming 5th the biggest crypt before fighting BCH.
The token took a downward spiral in the second week of November by canceling out most of the gains that hit $ 0.3 on the upside. XLM / USD has slipped into a resistance range with the interval limit at $ 0.1798 while the range support is conveniently at $ 0.1385. The stellar price is trading at $ 0.14775 after breaking below the short-term triangular support marginally above $ 0.16. There was a recovery from the range support, but the bulls lost steam short of the range limit.
At present, XLM is bearish with stochastic exploration levels in the oversold region. Furthermore, the gap between the 100 SMA and the 200 SMA is widening to show that the presence of bears is also increasing. Since the short-term SMA 100 exceeded the 200 SMA last month, the price remained in bearish trend. It is essential that buyers defend the support at $ 0.1385, although a break above the $ 0.1798 obstacle will put XLM on a recovery path above $ 0.2.
Litecoin (LTC)
Litecoin is also stuck in the radius of action just like Stellar. Digital assets have not been spared from the prevailing bear pressure in the market. Also, there was a drop below $ 30.00 with the LTC / USD trading lows around $ 27.45. The bulls took control of the price in the last week of November, however, they lacked the steam to break and support the movement over the obstruction at $ 36.00. The resistance of the range at $ 37.40 is also a significant obstacle.
The price is trading below the simple moving averages in the 2-hour range with the 100 SMA hindering growth to $ 32.72 and the SMA 200 to $ 33.90 respectively. LTC / USD trades at $ 30.81 after correcting 5.38%. Litecoin showed a potential for recovery after passing the declining trend of December 1, but the failure to exceed $ 36.00 was sending the coin to the drawing board. Initial support is the trendline (currently being tested) and the second support area is observed at $ 27.45. The stochastic has recovered from the deeper levels of the oversold point and is currently held at 23.43% to show that the bulls are present. Trading above the immediate resistance at $ 32.00 will open the recoil route, which could retest $ 36.00.
Bitcoin (BTC)
The bloodbath in the crypto market is still in full swing. The bitcoin price is close to the monthly lows and is trading at $ 3,820 at the time of printing. Furthermore, the downward trend line started in November indicates that a reversal is either impossible in the short term or will be an uphill task for buyers. Furthermore, the price is still blocked below simple moving averages (hourly interval).
On the other hand, the Stochastic is relatively bullish at 34.62 after recovering from levels close to 15%. The initial resistance of Bitcoin to the Fiber retracement level of 23.6% with the last maximum of swing of $ 5.6565.36 and the minimum of swing of $ 3.480.10 is a psychological level that would open the door for gains towards the second resistance level at $ 4,250. Bitcoin must correct above the supply zone for $ 4,349.76 to get out of the bear area.
