[ad_1]
Market Overview
The cryptocurrency market is still stuck in a range while digital assets are in danger of falling further towards the December lows. Bitcoin (BTC), for example is trading at $ 3,421 after correcting lower 1.82%. XRP (XRP) continues to hold ground above $ 0.30. Ethereum (ETH) is correcting lower by 2.78% and has broken below the support at $ 90.00 at the time of writing. The crypto community in the United Kingdom will be paid in Bitcoin. In other news, at Bitcoin ETF is not possible this year, in addition to the February 2019 deadline could end up in the paper being rejected or approved. However, the market is still battling to find a bottom in the ongoing declines.
Litecoin (LTC)
Litecoin has embarked on a sideways trading trend after it is snapped out of the descending trendline. In the past four weeks explored not only new annual lows but also new monthly lows. The trading since January 2018 has seen Litecoin trend lower side by side with other digital assets. The asset has lost more than 90% of its all-time value.
At the beginning of December LTC / USD is exchanged hands roughly at $ 32. There was a bullish correction above $ 35.00 but the asset started to be lower than $ 36.00. Litecoin price then formed a downward slopping channel that has seen the test at $ 22.00. The battered buyers have managed to escape the channel resistance, although they lack a catalyst to push for gains towards the hurdles at $ 28.00, $ 30.00 and $ 36.00. LTC / USD is trading at $ 23.9 with the 21 SMA immediately limiting gains. The long term 50 SMA will also hinder recoil at $ 2464. LTC / USD is primed for an upside move as the stochastic is heading towards the overbought region.
Pundi X (NPXS)
Pundi X, like most of the assets in the market is still exploring new annual lows. Recovery has been a coveted move that is currently out of reach for the bulls in the market. The $ 79 million crypto has corrected lower 1.60% in a 24-hour period against the US dollar. It has a trading volume in the same period that stands at $ 1.5 million.
Pundi X is trading at $ 0.0004797 at the time of press. The bearish trendline that has been limiting gains is still in position. Pundi X is testing the annual lows and is on the verge of setting. Dominated the trend. The stochastic has retreated from the oversold zone.
Recovery will be an uphill task for Pundi. The range resistance at $ 0.0007694 is the significant hurdle. A correction above this could open the door for more gains towards $ 0.001. Meanwhile, keeping the price above the annual lows is the main task for the buyers, for now.
Qtum (QTUM)
Qtum is steadily revamping the trend. In fact, the asset has added 3.95% to its value on the day while there is an ongoing bullish trend at the time of the press. QTUM / USD is trading at $ 1,645 and is holding onto the support at the 50% Fib retracement level taken from the highs of $ 1.77 and the lows of $ 1.48.
The digital asset has been correcting higher using a subtly upward slopping trendline as a bounce wall since December 7. However, upward movement remains capped at $ 1.75. The trend has been more or less lock-stepped but inclined towards the upside two to the higher lows and higher highs recorded. In case of a reversal, other support levels at 23.6% Fib level and the swing low support at $ 1.48.
