Following the massive bullish action on the 16th, we see the bears responding over the last two days, bringing the BItcoin market close to its 50-day moving average of $40,321 per coin; from the above chart, we see the bears succeeded in bringing the market below its 50-day moving average; however, we also see a quick rejection by the bulls to keep the market above its 50-day moving average.
On the 17th of March, the bears responded to previous bullish action after flipping an initial bullish action indicated by the wick above the candle, which denotes the highest Bitcoin trading price for the day at $41,486 per coin. The bearish dominance of the day was met with significant bullish opposition, reducing the losses seen during the day as indicated by the wick below the candle, Denoting the lowest trading price of Bitcoin for the day at $40,521 per coin. With the bearish dominance of the day, the Bitcoin market fell by 0.43%, bringing the price of each coin to $40,950 per coin.
At the start of the 18th of March, the bears are continuing their previous momentum, bringing the market closer to its 50-day moving average. With the early start to the day, the Bitcoin market is down by 0.86%, bringing the Bitcoin price to $40,598 per coin, with the highest and lowest trading prices seen standing at $40,969 and $40,261, respectively.
On the 17th of March, the bearish action resulted in a fall of the RSI to 52.95, and the continued bearish move on the 18th of March, we see a fall in the relative strength index to 51.76.
The histogram shows bullish dominance of the momentum as it is above the zero line. Similarly, we see the MACD gaining towards the zero line above, which signifies bullish control of the market momentum and creates a positive outlook for the asset.
The above chart shows that the steady growth seen in the ETH market continues as the asset has moved back above its 50-day moving average of $2,483 per coin, placing the market in an uptrend.
On the 17th of March, the bulls continued their previous momentum after flipping an initial bearish start to the market indicated by the wick below the candle, which denotes the lowest trading Ethereum price for the day at $2,747 per coin. With the successful bullish dominance of the market, the bulls influenced a 1.43% rise in the ETH price, bringing the price of each coin to $2,814. The chart also illustrates the bearish rejection of further bullish action, indicated by the wick above the candle, placing the highest trading price of ETH for the day at $2,839 per coin.
At the start of the 18th of March, the bulls have continued their market momentum, resulting in a 0.19% increase in the ETH price, translating to $2,534 per coin, while the highest and lowest trading prices have seen so far stand at $2,537 and $2,497, respectively. Nevertheless, with the market still hours from its close, we likely would see changes in these values.
The relative strength index of the ETH market indicates a market in strong control by the bulls as its value over the last two days stands above the 50 mark.
On the 17th of March, the bullish action resulted in a rise of the RSI to 54.69, and with the bearish start on the 18th of March, we see a fall in the relative strength index to 54.32.
The MACD remains below the zero line, indicating a bearish hold on the market. However, we see the histogram above the zero line due to the consecutive bullish action over the last two days. The MACD continues its journey toward the zero line, increasing bullish entry into the market.
The Ripple market has been sustained above its 50-day moving average of $0.745 per coin by consecutive bullish action; however, we see the bears pushing back to bring the market below the 50-day moving average.
On the 17th of March, the bulls gained dominance of a heavily contested market with significantly reduced gains, resulting in a 0.16% price increase, bringing the Ripple price to $0.794 per coin, while the wick above and below the candle denotes the highest and lowest trading prices seen in the market at $0.801 and $0.783, respectively.
At the start of the 18th of March, the bears respond to previous bullish momentum after flipping a massive bullish start to the day, indicated by the wick above the candle, which also denotes the highest trading price of Ripple, so far at $0.800 per coin. With the bearish start to the day, we see a 1.08% drop in the Ripple market, bringing the price of each asset to $0.785 per coin. With the market still in its early hours, more volatility is expected in the day. Nevertheless, as of the writing of this piece, the lowest trading price point seen in the market stands at $0.783.
With the bearish start on the 18th of March, we see the relative strength index fall towards the 50 mark, below which indicates a bearish dominance.
On the 17th of March, the bullish action resulted in a rise of the RSI to 55.04. With the bearish action at the start of the 18th of March, we see a fall in the relative strength index to 53.66.
Despite the sustained bearish action over the last two days, the MACD and histogram remain above the zero line, reflecting a market still within bullish control.
On the 17th of March, the bears started a momentum after flipping an initial bullish move, indicated by the wick above the candle, denoting the highest trading price of LTC for the day at $111 per coin. With the bearish dominance of the day, the LTC market is up by 0.98%, bringing the asset price to $110 per coin. The wick below the candle indicates a bullish attempt to minimize the day's loss, placing the lowest LTC trading price at $108 per coin.
At the start of the 18th of March, the bears are seen continuing their previous momentum together with a bullish opposition indicated by the wick below the candle, which also denotes the lowest trading price of Litecoin for the day at $107 per coin. The Litecoin market is down by 0.65%, translating to $109 per coin, with the bears being ahead. The wick above the candle denotes an initial bearish start to the market and the highest trading price of Litecoin seen so far at $110 per coin.
The LTC market remains bullish, which is seen on the relative strength index chart as the value stands slightly above the 50 mark despite bearish opposition.
On the 17th of March, the bearish action resulted in a rise of the RSI to 51.62, while the bearish start on the 18th of March has resulted in a rise of the RSI to 50.84
The MACD shows a deflection to the upside, which indicates increasing bullish activity in the market; however, with the MACD still below the zero line, the bear maintains control of the market. The histogram stands above the zero line, indicating increasing bullish action in the market.
On the 17th of March, the bears gained control of the Bitcoin Cash market. With this move, the losses seen on this day stood at 1.16%, placing the price of Bitcoin Cash at $296 per coin. The highest and lowest Bitcoin Cash trading price for the day stood at $301 and $294, respectively.
At the start of the 18th of March, the bears are seen attempting to begin momentum. Still, they face significant bullish opposition, indicated by the large wick below the candle, which denotes the lowest Bitcoin Cash price seen at $290 per coin. With the struggle for market dominance still well on the way, the Bitcoin Cash bears have influenced a minute 0.06% drop in the asset’s price, bringing its cost to $296 per coin. The wick above the candle denotes bearish resistance to an initial bullish action at the start of the day, placing the highest BCH price so far at $298 per coin.
The Bitcoin Cash market is yet to see significant price action. With the contested price actions over the last two days, the market remains below its 50-day moving average of $306 per coin, indicating a market yet to break out of bearish control.
We see the relative strength index of the market remains below the 50 mark, illustrating a predominantly bearish market.
With the above statement, the relative strength index on the 17th and 18th of March stands at 48.46 and 48.32, respectively.
The histogram shows growing bullish entry into the market and is placed above the zero line. At the same time, the MACD remains below the zero line indicating a bearish control of the market and a negative outlook for the asset.
The ADA market remains under a bearish downtrend, following as indicated by the market trading below its 50-day moving average of $0.960 per coin.
On the 17th of March, the bears initiated a momentum after flipping an initial bullish action indicated by the wick above the candle, which denotes the highest trading price of ADA for the day at $0.858 per coin. With the bearish dominance of the market, the bears influenced a 0.33% decrease in the ADA price, bringing the price of each coin to $0.836. The chart also illustrates the bull's rejection of further bearish action, indicated by the wick below the candle, placing the lowest trading price of ADA for the day at $0.828 per coin.
At the start of the 18th of March, the bears are continuing their momentum, resulting in a 1.05% drop in the ADA price, translating to $0.827 per coin, with the highest and lowest price points seen so far standing at $0.842 and $0.823 per coin. Nevertheless, with the market still hours from its close, we likely would see more volatility.
The relative strength index of the ADA market remains below the 50 mark, showing bearish control of the market momentum.
On the 17th and 18th of March, the relative strength index stands at 44.36 and 43.29, indicating a bearish effect.
The histogram shows growing bullish activity in the market as it stands above the zero line, and the MACD though below the zero line, illustrates increasing bullish entry into the market as it deflects towards the zero line. However, the market retains a bearish outlook with the MACD below zero..
The Dogecoin market remains below its 50-day moving average of $0.133 per coin, depicting a market under bearish control.
On the 17th of March, the bears initiated a move, resulting in a 0.51% drop in the Dogecoin price, translating to $0.116 per coin. The highest and lowest Dogecoin trading prices for the day stood at $0.119 and $0.115, respectively.
At the start of the 18th of March, the bears are seen continuing their previous momentum. With the move, the Dogecoin market is down by 1.29%, translating to $114 per coin. With the market still far from its close, we will see more volatility in the day.
Nevertheless, as of the writing of this piece, the highest and lowest trading prices of Dogecoin stand at $0.116 and $0.114, respectively.
The Dogecoin market remains with the bears dominating the market strength as indicated by the relative strength index of the market being below the 50 mark.
The relative strength index on the 17th and 18th of March stands at 40.89 and 39.47, respectively. In correlation to the RSI, the MACD portrays a market within bearish control as it is placed below the zero line, creating a negative outlook for the asset.
