Weekly price analysis: Litecoin (LTC) and EOS challenge the bear market while the collapse of BCH and BSV continues

The total market capitalization has fallen to 104 billion US dollars. With the exception of Litecoin, all the crypto currencies in the top 10 have lost ground. Bitcoin Cash and Bitcoin SV even faced price losses of over 20 percent.

The cryptic market continues to dance on the abyss. Currently, the price of Bitcoin is only slightly higher than the moving average of the last 200 weeks. Especially Bitcoin Cash and Bitcoin SV had to record 22% higher price losses. Litecoin is completely out of line: with a 9% price increase, Litecoin challenges the bear market. Meanwhile, Tether was in fourth place in terms of market capitalization. The head-to-head race between Stellar and Tether continues.

Market capitalization is also at a minimum for the year. It has declined further and now stands at 104 billion US dollars.

For the most part, the price situation is not yet rosy. Apart from Bitcoin SV, Litecoin and Tron, the outlook is quite negative everywhere. So, if the medium is violated, short positions are a good choice.

Best price: Litecoin (LTC)

Litecoin was able to record a nine percent price increase. With this increase, Litecoin's price rebounded on support at 23.14 US dollars. With this increase Litecoin was able to rise above Bitcoin Cash and Bitcoin SV.

A negative MACD, but a slight increase and a growing RSI give a general bullish impression. The Aroon indicator does not suggest a bear market and at least does not contradict this assessment. Therefore, a long choice is the obvious choice, where the objectives are given by the two resistances at 29.12 US dollars and 36.84 US dollars. Support at 23.14 US dollars is a good stop loss. If the price falls below these, you could open a short position in which the resistance at 29.12 US dollars can be used as a stop loss and the second support at 15.45 US dollars as a target.

Worst Performance: Bitcoin SV (BSV)

As won, as a merger: the increase in the share price of Bitcoin-SV had to be abandoned. The price fell below the MA140 and MA50 moving averages and tested a support that was still a drag at the end of November. Meanwhile, the share price has recovered slightly and is still well above this support.

The MACD is negative, but strongly increasing. The RSI is currently around 50 and the Aroon indicator confirms a bullish sentiment. If the price of the Bitcoin SV exceeds the resistance to $ 81.18, you can think of a long position with a tight stop loss at around $ 75 US. A significant goal would be on the height of the plateau around the 90.12 US dollar. If the price falls below the second support level of 57.62 US dollars, a short position would be a good choice, where the stop loss is 65.43 US dollars and the target is 42.00 US dollars.

Stability of the Top 10

The most dramatic struggle is between Stellar and Tether: less than one percent separates the market capitalisations of the two crypto currencies. But the gap between EOS and Litecoin is also quite limited, respectively at four and thirteen percent. Likewise, the dispute over the supremacy of Litecoin, Bitcoin Cash and Bitcoin SV has not yet been resolved. The market capitalization of Litecoin and Bitcoin Cash only differ 12 percent and between Bitcoin SV and Bitcoin Cash lie only nine percent. After all, Tron's market capitalization is only 14 percent higher than Cardano's, so many things can happen in the back.

Winners and losers of the week

On average, all cryptographic currencies fell by three percent and therefore posted significantly better results than Bitcoin. For the first 100, the result is less clear: they have decreased by an average of six percent. The winners of the week were TenX and Waves, which recorded a price increase of over 50 percent. The loser of the week is CERA. The encrypted currency had to face losses of over 30 percent.

48% of the first 100 cryptocurrencies performed worse than BTC. The dominant position on the BTC market remained at 55%.